Company Name: Awash Insurance Company S.C. (AIC)
Founded: October 1, 1994.
Commenced Operations: January 2, 1995.
Main Activity/Service: General Insurance and Long-term (Life) Insurance Business.
Ownership structure: A private share company with more than 1254 individual andBusiness Partner(s) and Bankers:
i. Awash Bank S.C, Our principal banker; AIC is the leading shareholder in the Bank;
ii. United Bank S.C.
iii. Abysinnia Bank S.C.
iv.Commercial Bank of Ethiopia.
v.Cooperative Bank of Oromia S.C.
vi.Oromia International Bank S.C.
capital ETB 242.5 Million as at May 31,2017.Asset:
ETB 1.2 Billion.Business Experience and Track Record:
- Profitable throughout its 21 years of service, with over 24% investment return on the average.
AIC’s Outstanding Features:
- 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.
- Owns ultramodern Headquarters building at the center of the metropolis;
- Provides technologically advanced and automated service through General Insurance Information System;
- Stability and remarkable business truck record;
- The solid foundation(our broad-based unique feature);
- Ever-growing size,national coverage & organizational strength;
- Service efficiency,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,the first private bank after liberalization of the economy three decades ago;
- Dependability of the Reinsurance Program; and
- Above all, our provision of highly tailored/affordable insurance covers suitable to the needs and fit to the needs and pockets of the customers.
Board Directors are nine prominent businessmen and professionals. Board Chairman:
Mr Hambissa Wakwaya. Management: The management team of AIC consists of twelve highly qualified and experienced professionals. Chief Executive Officer:
Mr Tsegaye Kemsi, FLMI. Staff : AIC has at present over 473 permanent employees and 27 contract employees.
Agents: The total number of our sales force is 440.
Branch: AIC has 42 None-Life branches and one Life branch and 2 underwriting contact offices.