Awash













 
With Renewed Commitment to Excel in the New Millennium!

Company Name: Awash Insurance Company S.C. (AIC)

Logo

Company Logo On a sky blue circle background three letters, AIC (Awash Insurance Company) are engraved in white; a logo with trifoliate (three leaves in green) on top of the middle letter representing bright future, growth and prosperity.

Headquarters Address: The Awash Towers
Senga Tera
P.O.Box 12637
Addis Ababa, Ethiopia
Tel. +251-11-5570001
Fax +251-11-5570208
E-mail:aic@awashinsurance.com OR: aic@ethionet.et

Motto: Awash always flows, so does our company!
Non-stop care and services are guaranteed!


Our Vision

To be the leading and the best insurance service provider.

Our Mission

To provide diversified general and long-term insurance services to a continuously growing number of clients efficiently, competitively and profitably supported by modern technology as well as by well trained, professionally and socially responsible team of management and employees.

Our Values

  • We are commited to our clients.
  • We are committed to our staff.
  • We are punctual.
  • Honesty is our basic tenet.
  • Team-work is our organizing principle.
  • We keep our code-of-dressing.
  • We promote gender equality.
  • We are environment friendly.
  • Transparency is our guiding principle.

Aims

  • Carry out all types of general and long-term insurance and reinsurance businesses in Ethiopia and abroad;
  • Provide customers with clear, up-to-date and helpful professional advice on insurance and related matters;
  • Make sure that the protection provided is completely fit to the requirements of customers;
  • Invest in businesses incidental to insurance in accordance with the law;
  • Support social causes in undertaking its corporate responsibility;
  • Initiate, promote and uphold the actualization of lucrative businesses by financing or investing in them to maximize the Shareholders' benefits;
  • Work severally and hand-in-glove with all concerned to enhance the awareness about insurance among the general public;
  • Facilitate, guarantee and help accelerate socio-economic development of the country in serving as a rearguard;
  • And above all, contribute its part to the sustainable growth of the economy.

Licensed: October 1, 1994.

Commenced Operations: January 2, 1995.

Main Services: General insurance and Long-term (Life) insurance.

Ownership structure: A share company owned by more than 575 individual and corporate shareholders.

Business Partners and Banks:

  1. Awash International Bank S.C, Our principal banker; AIC is the leading shareholder in this Bank;
  2. Commercial Bank of Ethiopia
  3. United Bank S.C.
  4. Wegagen Bank S.C.
  5. Nib International Bank S.C.
  6. Oromia Cooperative Bank S.C.

Capital: Subscribed Capital, ETB 80,000,000.00
Paid-up capital, ETB 59,349,000.00

Business Experience and Track Record

Profitable throughout its years of service, with over 24% return on investment (ROI) on the average.

AIC’s Outstanding Features

The Outstanding features of AIC include, but not limited to the following:

  • AIC has stable and remarkable business track record;
  • Its broad-based nature is its solid foundation;
  • Continuous growth in its scope of operational coverages, national coverage & organizational strength;
  • Efficient and transparent service delivery;
  • Loyal, dedicated and professional management and staff;
  • Flexible and innovative approaches used in our service delivery;
  • The Company also has the most dependable reinsurers;
  • Above all, we provide highly tailored/affordable insurance covers that are suitable & fit to the needs of customers.

Directors: The company has nine Directors on its Board  who are both businessmen and professionals.

Current Board Chairman: Mr. Kanaa Daba.

Executive Management: The company has qualified and experienced professionals in the team of Executive Management.

Chief Executive Officer: Mr. Tsegaye Kemsi, FLMI

Staff : AIC at present has a total of 322 employees. We are gender sensitive; 50% are female.

Head Quarter
The New Headquarters of Awash Insurance Company and its sister company, Awash International Bank.


Awash Insurance Company S.C.