Company Name: Awash Insurance Company S.C. (AIC)
Founded: October 1, 1994.
Commenced Operations: January 2, 1995.
Main Activity/Service: General Insurance and Long-term (Life) Insurance Business.
Ownership structure: A private share company with more than 1370 individual and
corporate shareholders as at October 2015.
Business Partner(s) and Bankers:
i.Awash International Bank S.C, Our principal banker; AIC is the leading shareholder in the Bank;
ii. United Bank S.C.
iii Wegagen Bank S.C.
iv.Commercial Bank of Ethiopia
v.Cooperative Bank of Oromia S.C.Capital:
Business Experience and Track Record:
- Subscribed Capital, ETB 300,000,000.00.
- Paid-up capital, More than ETB 200 million.
- Profitable throughout its years of service, with over 24% investment return on the average.
AIC’s Outstanding Features:
- Our Customer base is the broadest among private Insurance Companies.
- Many gigantic companies and organizations(private and public alike)are among our ever-growing customer base.
- Owns ultramodern Headquarters building at the center of the metropolis;
- Provides technologically advanced and automated service through General Insurance Information System;
- Stability and remarkable business record;
- The solid foundation(our broad-based unique feature);
- Ever-growing size,national coverage & organizational strength;
- Service efficiency,transparency;
- Loyal and dedicated staff of growing quality(both young & experienced);
- Our willingness to serve customers flexibly and innovatively;
- That we have a sister Bank,the first private bank after liberalization;
- Dependable Reinsurance Program; and
- Above all, our provision of highly tailored insurance covers which are suitable to the needs of the customers.
Board Directors is composed of nine directors. They are prominent businessmen and professionals. Board Chairman:
Mr. Hambissa Waqwaya. Management:
The management team of AIC consists of highly qualified and experienced professionals. Chief Executive Officer:
Mr Tsegaye Kemsi, FLMI. Staff :
AIC has at present over 454 employees.