Ethiopian Insurance Corporation
The Ethiopian Insurance Corporation is a state-owned insurance corporation headquartered in Leghar, Addis Ababa, Ethiopia. It was established in 1976 with initial capital of 11 million after taking over the thirteen nationalized private insurance companies liabilities and assets. The Ethiopian Insurance Corporation is a subsidiary of Ethiopian Investment Holdings, the sovereign wealth fund of Ethiopia.
History
The Ethiopian Insurance Corporation was established in 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 paid up capital.It is state-owned and profitable organization. As of August 2023, the Corporation profits plunged up to 1.4 trillion birr.