Africa Insurance Company S.C. (AIC)

Africa Insurance Company (AIC) was established in 1994 as a privately owned insurance company under Ethiopia's Licensing and Supervision of Insurance Business Proclamation No.8/1994. It was founded with a paid-up capital of 30 million Ethiopian Birr, divided into 30,000 shares, making it one of the strongest private insurers in the country. Despite being a relatively young company, AIC has built a reputation for excellence due to its highly qualified personnel, who are committed to providing effective and quality service, guided by its corporate motto, "Committed to Excellence and Quality Services."

Vision

To shine as the most preferred, accessible and market leader insurance company in the nation as measured by our customers, employees and shareholders by the year 2025 G.C.

MISSION

To serve honorably the needs of the society by producing, delivering and maintaining full range of superior quality insurance services at a competitive price.

Objective

Objective of Africa Insurance is

• Pursue with commitment the professionalism and prosperity of employees.
• Ensure consistent development and profitability through proactive management and efficient allocation of resources.
• Contribute to the well-being of the society at large.

Core Value

Operating in accordance with a set of core values and beliefs including the provision of services with speed, efficiency and assurance, harmony and co-operating, courtesy and humanity with an all-around professionalism both to its clients and to its employees. These values are the corporate culture under which the Board of Directors, the Management and Employees of AIC are operating.

Afica Insurance offers the following products and services:

Life, Accident & Health Insurance

• Personal Accident - Individual (PA)
• Personal Accident - Group (GPA)
• Travel Insurance

Motor (For Private & Commercial) Insurance

• Third Party Including Yellow Card Cover
• Third Party, Fire & Theft
• Own Damage
• Comprehensive (Includes 1-3 Covers)
• Motor Trade

Aviation Insurance

• Aircraft Damage & Liability
• Premises Liability
• Hangar Keepers’ Liability

Marine Insurance

• Marine Cargo: Air & Sea
• Inland Transit
• Marine Hull

Fire & General Accident Insurance

• Fire and Material Damage: Commercial/Industrial
• Fire and Material Damage: Private
• Fire - Consequential Loss
• Fire - Stack Floater
• Burglary and House Breaking
• Domestic/Householders’ Package
• Plate Glass
• All Risk

Engineering Insurance

• Contractors’ All Risks (CAR)
• Erection All Risks (EAR)
• Contractors Plant and Machinery (CPM)
• Machinery Breakdown (M.B.)
• Consequential Loss
• Boiler & Pressure Vessels
• Electronics Equipment
• Deterioration of Stock

Pecuniary Insurance

• Money
• Fidelity Guarantee
• Bonds:
• Bid Bond
• Performance Bond
• Advance Payment Bond
• Different Custom Bonds
• Maintenance Bond
• Retention Bond
• Supply Bond

Liability Insurance

• Public Liability
• Product Liability
• General Liability
• Inland Carriers’ Liability
• Employer’s Liability/Workmen’s Compensation
• Professional Indemnity
• Occupier’s Personal Liability
• Director’s & Officers’ Liability

Agriculture Insurance

• Crop Insurance
• Farm Insurance
• Dairy Farms
• Poultry Farms
• Floriculture, etc.
• Livestock Insurance

Workmen's Compensation Insurance

• Workmen’s Compensation (8 to 24 Hours Cover)

Political Violence & Terrorism Insurance

• Political Violence and Terrorism

Micro Insurance

• Index Based - Crop Insurance
• Index Based - Livestock Insurance