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Africa 
Insurance Company

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(a) General Information

Year of Establishment1994

Africa Insurance Company is currently operating in:

• Tigray;

• Amhara and

• Oromiyaa.

Future Expansion Plan

Africa Insurance Company wants to expand its outreach in the Oromiyaa Regional state and open two additional branches within the coming three to five years.

Total Number of Branches Opened so far

Africa Insurance Company has 9 branches operating in Ethiopia.

Total Number of Clients Served So far/ Number of policies

8068, out of which 13 are rural clients.

(b) Terms and Types of Insurance Services/Policies

Time needed to process and get services and amount of premium

General Criteria for client (risk) eligibility of Insurance Coverage

• The client should clearly specify the type of coverage required and the insurer makes

• analysis of the requested coverage. The required coverage should be presented to the Company in writing.

• Proper safety measures should be taken by the insured;

• Financial position of the insured should be ascertained;

• Management experience of the insured is examined;

• The client should have insurable interest on the item to be insured;

• Past claim Experience should be disclosed;

• Condition of the property to be insured should be disclosed properly.

Type of clients addressed so far:

• Addis Tyre Factory (4 years);

• Akaki Spare parts Factory (3 years);

• Almeda Factory (6 years);

• Mestlo Cement Factory (5 years);

• Tekeze Hydro Power Plant (New);

• Shipping Lines (4 years);

• Sur Construction (5 years);

• Trans Ethiopia (5 years);

• Moenco

Application/proposal form:

Each insurance coverage has its own application/proposal form.

Plan to avail Services to Micro and Small Entrepreneurs (MSEs)

The Company has recently provided quotations to some MSEs.

Service Out-let

The services of the Company are accessible through its branch offices.

Frequency of revising loan policies

As it deems necessary.

Head Office

Telephone: +251-1-624579

E-mail : africainsmd@telecom.net.et

P.O.Box: 12941, Addis Ababa, Ethiopia

Contact Person: Mr. Eyobed Tibebu

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