Company Profile

An overview

 

Nyala Insurance S.C. (NISCO) is one of the leading Insurance Companies in Ethiopia in terms of performance growth and financial position.

It was established in 1995 to engage in general insurance business pursuant to the enactment of the Insurance Business Proclamation 86/1994 with a subscribed capital of Birr 25 million and paid-up capital of Birr 7 million. In 2005, NISCO turned into a composite insurer by adding life business and increasing its paid-up capital to Birr 35 million. During the last five years, NISCO has grown very quickly and currently, its Paid-up capital reached Birr 416 million.

With a head quarter in Addis Ababa, Nyala Insurance S.C. operates in almost all regional states in Ethiopia through a networkof 46 service outlets (35Service Centers and 11 Contact Offices)distributed all over the country.

In 2019, NISCO wrote Birr 492 million of premium income and realized a gross profit of Birr 184 million. Its shareholders’ equity reached Birr 842 million while its total assets were Birr 2.1 billion. 

NISCO has profoundly revised its previous course of business situation, and keenly formulated a forward-looking Strategic Plan that would help the Company efficiently deploy its financial, physical and human resources towards achieving higher growth.

 

 

Registered Office 
Protection House, Mickey Leland Street 
P.O.Box 12753, Addis Ababa, Ethiopia 
Tel. 251-11-6626667 
Fax 251-116626706 
e-mail nisco@ethionet.et
Website www.nyalainsurancesc.com  

An overview

Nyala Insurance Share Company (NISCO) was founded in July 1995 following the liberalization of the insurance business to the private sector in 1994 with the Licensing and Supervision of Insurance Business Proclamation No. 85/1994. Read more...

Investments

Apart from its major investments in real estates in the downtowns of Addis Ababa, Bahir Dar and Nazareth, Nyala Insurance selectively invests in various financial institutions like Dashen Bank, which have potentially high investment returns. Read more...

Contact us

Protection House, Mickey Leland Street

Tel: +251-11-6626679/80/76