Company Name

  • Awash Insurance

Founded

  • October 1, 1994.

Commenced Operations

  • January 2, 1995.

Country

  • Ethiopia.

Main Activity/Service

  • General Insurance, Long-term (Life) Insurance and Takaful Business.

Ownership structure

  • A private share company with more than 1,714 individual and corporate shareholders.

Principal banker

  • Awash Bank is our principal banker and Awash Insurance is the leading shareholder in the Bank.
Company Profile
AIC works with All Banks the major ones are

Awash Insurance works with All Banks the major ones are:

  • United Bank S.C.
  • Bunna International Bank.
  • Abyssinia Bank S.C.
  • Dashen Bank.
  • Commercial Bank of Ethiopia.
  • Debub Global Bank.
  • Cooperative Bank of Oromia.
  • Lion International Bank.
  • Oromia International Bank.
  • Nib International bank.
  • Enat Bank.
  • Wegagen Bank.
  • Abay Bank.
  • Zemen Bank.
  • Addis International Bank.
  • Zamzam Bank.
  • Berhan International Bank.

Capital

  • Subscribed ETB 4 Billion, and Paid Up ETB 1.9 Billion as at April 2023

Asset

  • Over ETB 6.8 Billion

Business Experience and Track Record

  • Profitable throughout its 29 years of service with a track record of remarkable investment returns.

Board Chairman

  • Mr Tadesse Gemeda

Management

  • The management team of Awash Insurance consists of fifteen highly qualified and experienced professionals.

Customer Base

  • Our Client base is one of the broadest among private insurance Companies
  • Many gigantic companies and organizations (private and public alike) are among our ever-growing customer base.

Directors

  • Board Directors are nine prominent businessmen and professionals.

Chief Executive Officer

  • Mr. Jibat Alemneh Faji

Human Capital (Staff)

  • Awash Insurance at present has over 750 permanent employees.

Agents

  • The total number of our sales force is over 285+.

Reinsurance Arrangement

  • The reinsurance program for Awash Insurance is one of the most highly dependable arrangements in the industry.
  • Munich Re and Africa Re led our treaty with ratings of A+ and A, respectively, by globally acclaimed rating companies like S&P and A.M. Best.
  • Treaty followers: (i) Ethio Re, (ii) PTA Re. (iii) East Africa Re. (please drop “n”) (iv) Societe Centrale de Reassurance, (v) Continental Reinsurance Limited. (vi) QBE Insurance, (vii) GIC Re
  • Reinsurance Brokers: Afro Asian, Nasco, Fair Insurance & Reinsurance, APEX and Genesis Risk Managers.

Branch

  • 70 branches from which 64 are Non-Life branches and 2 Life branch.The Company has also 4 underwriting Contact offices.

Awash Insurance Outstanding Features

  • Owns ultramodern Headquarters building at the center of the metropolis
  • Provides technologically advanced and automated service in General and Long Term Insurance Information System
  • Stability and remarkable business track record
  • The solid foundation of Shareholders (our broad-based unique feature)
  • Ever-growing size,national coverage & organizational strength
  • Service efficiency and 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, Awash Bank, the first private bank after liberalization of the economy three decades ago
  • Dependability of the Reinsurance Program
  • Above all our provision of highly tailored/affordable insurance products suitable and fit to the needs and pockets' of the customers.
AIC's Outstanding Features

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About Awash Insurance

Founded in 1994, Awash Insurance was launched following the liberalization of the financial sector in Ethiopia, making it one of the pioneer insurance companies in the country. Awash Insurance stands on a solid foundation with its richly unique and diverse composition, which speaks to our ability to understand customer needs. We continuously renew our commitment to perfecting our service towards excellence by ensuring the seamless delivery of digitally astute solutions with a human touch.

To be the leading and most dependable insurer of choice.

Awash Insurance Company exists as a trusted insurance partner for all stakeholders, by delivering value and financial security through innovative insurance solutions and excellent customer service.

The five core values of Awash Insurance, which read AWASH,are presented under here:

  1. Agility
  2. Winning Spirit
  3. Adaptability
  4. Social Responsiveness
  5. Harmony

Awash Insurance branches in Ethiopia

Awash Insurance operates throughout the country

We offer many more policies, over and above those listed within. We welcome you to contact us with your specific needs/requirements or concern areas, and together, we will explore and help you pick the most suitable policy to cater for your needs and budget.

Contact us

Reinsurers