Global Insurance Company S.C. (GIC)

Global Insurance Company (GIC) was established in 1997 G.C. by 23 founding members with an initial paid-up capital of 3.75 million Ethiopian Birr. With over 25 years of experience, GIC has become a leading provider of insurance solutions in Ethiopia. Throughout its journey, the company has served more than two million customers, offering trusted protection for both individuals and businesses. Global Insurance continues to uphold its commitment to delivering reliable and quality services in the insurance industry.

Vision

To be the preferred insurance company in Ethiopia by the year 2023

MISSION

Provide financial protection and peace of mind for our customers through diligent underwriting and claims services by using business friendly solutions and up-to-date technologies, maximize company’s wealth by engaging in diversified businesses and investments through optimizing resources

Core Value

Core values of Global Insurance is

• Commitment to Mission
• High Value to Employees
• Learning Organization
• Team Work
• Integrity

Global Insurance Company offers the following products and services:

1. Property Insurance

• Motor Insurance: Protects vehicles against accidents and damage.
• Fire Insurance: Covers damage from fire-related incidents.
• Burglary Insurance: Protects against theft and burglary.
• Plate Glass: Coverage for broken or damaged glass.
• All Risk Insurance: Protects assets from a wide range of risks.
• Marine Insurance: Covers loss or damage to ships and cargo.

2. Engineering Insurance

• Contractor All Risks: Protects against risks during construction projects.
• Erection All Risks: Covers risks during the installation of machinery.
• Electronic Equipment: Insures electronic devices against damage.
• Plant and Machinery: Protects equipment and machinery used in business operations.
• Boiler & Pressure Vessel: Covers boilers and pressure vessels against damage.

3. Pecuniary Insurance

• Bond Insurance: Provides security against financial loss in contracts.
• Money Insurance: Protects cash and assets from theft or loss.
• Fidelity Guarantee: Insures against employee dishonesty or fraud.

4. Other Insurance

• Political Violence & Terrorism Insurance: Covers damage caused by political unrest or terrorism.
• Travel Insurance: Protects against risks during travel, such as medical emergencies or trip cancellations.

5. AHLI-Takaful (أهلي تكافل)

AHLI-Takaful (أهلي تكافل) is a Shariah-compliant insurance model that promotes social solidarity and mutual cooperation. It allows both Muslims and non-Muslims to participate and involves members collectively contributing funds to indemnify losses or damages experienced by any member of the group.