Ethiopian Insurance Corporation

About Ethiopian Insurance Corporation

Ethiopian Insurance Corporation (EIC) was established in 1976 by proclamation No.68/1975. The Corporation came into existence by taking over all the assets and liabilities of the thirteen nationalized private insurance companies, with Birr 11 million (USD 1.29 million) paid up capital aiming the following objectives:

• Engage in all classes of insurance business in Ethiopia ;
• Ensure the insurance services reach the broad mass of the people;
• Subject to the provision of Article 18 of the Housing and Saving Bank establishment proclamation No. 60/1975, promote efficient utilization of both material and financial resources

Vision

The vision of the Ethiopian Insurance Corporation is to be a world class insurer.

Values

Ethiopian Insurance Corporation believes that:-

• The very existence of the Corporation is based on the satisfaction of its customers;
• A motivated and capable human resource is its main asset;  
• It must be a user of up to date ICT;
• It must be a learning organization;
• It must be a partner for development;
• It must develop transparency and accountability;
• It must provide professional advice to its customers on loss prevention; and
• It must play a pivotal role in developing higher professional ethics in the insurance industry.

Mission

Mission of the Ethiopian Insurance Corporation is to provide its customers an efficient & reliable insurance services which cover life, property and liability risks. EIC provides its service by giving a paramount importance to its customer’s safety and satisfaction; by making use of the right mix of expertise, the most up to date ICT and cost effective strategies.

Products

The Ethiopian Insurance Corporation provides more than 30 types of non-life Insurance policies. Non-life insurance policies are used to cover property and liability risks.

• Fire and Allied perils
• Burglary and House keeping
• Consequential Loss (Business Interruption)
• Motor Commercial vehicle
• Engineering

• Contractors all risk
• Contractors plant & machinery
• Boiler insurance
• Deterioration of Stock
• Erection All Risks
• Electronic Equipment Insurance
• Machinery Breakdown
• Machinery Loss of profit

• All risks
• Personal/Group Personal Accident
• Product liability
• Warehouse Operators Liability

visit our offices for more specific advice on our service and product.