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Global Insurance

Area of work
• Insurance

About Global Insurance Company (GIC)

Global Insurance Company (GIC) was established in 1997 by 23 founding members at an initial paid up capital of 3.75 million Ethiopian Birr in a small office in the old airport area and one contact office in Arada Sub City. In June 2010 GIC had paid up capital of 20 million Ethiopian Birr from 135 shareholders. It is now operating in 12 branches of which 7 are in Addis Ababa. The company has 131 employees. The new 8 story GIC Head Office Building at area known as Somali Tera has now been completed at a cost of 20 million Ethiopian Birr from own fund and has started operation as of October 2008.

Our Vision

Play dynamic role in the local market

Our Mission

  • Provide efficient and effective service to customers
  • Focus on viable investment alternatives

Our Goals

  • Seek long-term relationships with our customers, based upon quality of service and productivity improvement, not lowest price
  • Respect the dignity, rights and contributions of our employees
  • Attract and retain a skilled workforce by adhering to a stringent recruitment policy
  • Continue to improve the quality of our services for our customers
  • Continue to improve the mechanism for identifying and satisfying customer needs through our Insurance Total Quality Management Program.


Engineering insurance

Erection all Risks (EAR) : The Erection All Risks policy is a comprehensive insurance, which provides complete protection against all types of risks associated with erection, testing, commissioning of machinery, plant and equipment during constructional stage. Erection All Risks Insurance embraces a wide variety of plant and machinery at all levels of complexity, ranging from the relatively straight forward positioning and connecting up of single manufactured items of equipment such as small pumps or electric motors to complete major industrial complex such as a large power station or manufacturing facility.

Contractors Plant & Machinery Policy:

Whereas the Insured named in the schedule hereto has made to the M/S Global Insurance Company (S.C) (hereinafter called "the insurers") a written proposal by completing a questionnaire which, together with any other statement made in writing by the insured for the purpose of this policy, is deemed to be incorporated herein.

Now this Policy of Insurance witnesses that, subject to the insured having paid to the insurers the premium mentioned in the schedule and subject to the terms, exclusions, conditions and provisions contained herein or endorsed hereon.

The Insurers hereby agree with the insured that if at any time during the period of insurance stated in the schedule or during any subsequent period for which the insured pays and the insurers may accept the premium for the renewal of this policy, the items (or any part thereof) entered in the schedule, whilst at the location or in the geographical area mentioned therein, suffer any unforeseen and sudden physical loss or damage from any cause not specifically excluded in a manner necessitating repair or replacement.

The insurers will indemnify the insured in respect of such loss or damage as hereinafter provided by payment in cash, replacement or repair (at their own option) up to an amount not exceeding in any one year of insurance in respect of each of the items specified in the schedule the sum set opposite thereto and not exceeding in all the total sum expressed in the schedule as insured hereby.

This policy shall apply whether the insured items are at work or at rest, or being dismantled for the purpose of cleaning or overhauling, or in the course of the aforesaid operations themselves, or in the course of subsequent re-erection, but in any case only after successful commissioning.

Come and talk to us for more of our products and advice.

Global Insurance Head office
Gobena Aba Tigu Street /Somale Tera Global Insurance Main Building
180112 Addis Ababa, Addis Ababa
Phone: +251 111 56 74 00
Fax: +251 111 56 62 00
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