Nyala Insurance S.C. Profile

Sections
Profile
Address
Board of Directors
Management Team
Annual Reports

About Nyala Insurance

Establishment: Founded in 1995, Nyala Insurance S.C. (NISCO) is a prominent insurance company in Ethiopia, initially focusing on general insurance business.

Capitalization: Started with a subscribed capital of Birr 25 million and a paid-up capital of Birr 7 million, NISCO expanded its paid-up capital to Birr 35 million in 2005. Over the past decade, its paid-up capital has surged to Birr 830 million.

Operational Presence: Headquartered in Addis Ababa, NISCO operates through a network of 48 service outlets, including 41 Service Centers and 7 Contact Offices, spread across Ethiopia.

Financial Performance (2023): In 2023, NISCO wrote Birr 1.3 billion of premium income, realized a gross profit of Birr 303.6 million, and managed total assets worth Birr 3.8 billion.

Strategic Direction: NISCO has adopted a forward-thinking approach by shifting its focus to digital insurance services. The company introduced a five-year strategic plan named "DigiLeap," aiming to digitize its operations and enhance customer experience.

Vision: Aspires to become the preferred provider of insurance solutions in all markets served.

Mission: Committed to helping customers manage risks, recover from the unexpected, and attain peace of mind.

Core Values:

Protection with Care: Emphasizes care in relationships with customers and employees.

Professionalism: Engages in professional conduct adhering to ethical standards.

Accountability: Ensures accountability to customers, shareholders, employees, competitors, and society.

Integrity: Conducts business honestly, ethically, and consistently.

Excellence: Strives to achieve excellence through innovation, learning, and agility.

Teamwork: Believes in collaborative problem-solving with colleagues and customers.

Innovation: Promotes innovation, creativity, and continuous improvement to meet and exceed customer expectations.

Address and Contact Information

Head Office: Protection House, Mickey Leland Street, Addis Ababa, Ethiopia

P.O.Box 12753, Addis Ababa, Ethiopia

Phone:  251-11-6626667

Fax: 251-116626706

Email: nisco@ethionet.et

Website: www.nyalainsurancesc.com

Board of Directors

1. Dr. Sara surur (Chair of BoD)
2. Ato Asfaw Alemu (Member, Dashen Bank S.C)
3. Ato Yonas Duguma (Member)
4. Ato Hussen Ahmed (Member)
5. Ato Solomon Bedane (Member)
6. Ato Ayalew Yimam (Member, Equatorial Business Group PLC)
7. Ato Tahir Mohammed (Member)
8. Wro. Mintewab Abebe (Member)
9. Ato Hussen Saeed (Member)

Executive Management Team

1. Yared Mola - Chief Executive Officer
2. Astatekie Lulseged - EO, Claims Management
3. Woinshet Gossaye - EO, Finance & Investment
4. Tegegn Masresha - EO, Marketing & Business Development
5. Zewdu Beyene - EO, Underwriting
6. Nebiyat Markos - Manager, Engineering Services
7. Getu Melkie - Manager, Legal Services
8. Abiy Worede - Manager, Strategy & Change Management
9. Asratu Aemiro - Manager, MIS
10. Hussen Ahmed - Manager, Internal Audit & Quality Assurance

Annual Reports

Please visit http://nyalainsurancesc.com/?q=article/annual-reports