Ethiopian Insurance Corporation
 | |
| Abbreviation | EIC |
|---|---|
| Formation | 1 January 1976 |
| Type | Governmental |
| Headquarters | Leghar, Addis Ababa, Ethiopia |
| Owner | Ethiopian Investment Holdings |
| Website | Official website |
The Ethiopian Insurance Corporation (Amharic: የኢትዮጵያ ኢንሹራንስ ኮርፖሬሽን; EIC) is a state-owned insurance corporation headquartered in Leghar, Addis Ababa, Ethiopia. It was established in 1976 with initial capital of 11 million (US$1.29 million) after taking over the thirteen nationalized private insurance companies liabilities and assets.[1] The Ethiopian Insurance Corporation is a subsidiary of Ethiopian Investment Holdings (EIH), the sovereign wealth fund of Ethiopia.[2][3]
History
The Ethiopian Insurance Corporation (EIC) was established on 1 January 1976 by proclamation No. 68/1975 by emerging takeover of the thirteen nationalized private insurance companies liabilities and assets, with birr 11 million (US$1.29 million) paid up capital.[4][1][5]
It is state-owned and profitable organization. As of August 2023, the Corporation profits plunged up to 1.4 trillion birr.[6]
References
- 1 2 "Ethiopian Insurance Corporation | ethioconstruction.net". ethioconstruction.net. Archived from the original on 2021-07-30. Retrieved 2025-01-16.
- ↑ Thomas, David (2024-09-05). "Ethiopian sovereign fund identifies ten state companies to list". African Business. Retrieved 2025-06-10.
- ↑ Thomas, David (2025-02-27). "Ethiopia's new stock exchange targets 90 listings in first decade". African Business. Retrieved 2025-06-10.
- ↑ Zeleke, Hailu (2007). Insurance in Ethiopia : historical development, present status and future challenges – via Semantic Scholar.
- ↑ "Ethiopian Insurance Corporation Profile". www.ethiopiancapitalmarket.com. Retrieved 2025-01-16.
- ↑ "State-owned Insurance Corporation Profitably Marches". Addis Fortune. Retrieved 16 January 2025.