Hibet/United Insurance S.C. (UNIC)

Hibret Insurance Company was established in November 1994 by 87 Ethiopian individuals and enterprises with an initial capital of 8 million Birr. It began as a non-life insurer and, in 1997, became the first private-sector insurer in Ethiopia to offer life insurance. In 2000, Hibret expanded by acquiring Lion Insurance, strengthening its market position. As of June 2024, the company had raised its capital to over 1 billion Birr, with plans to increase it to 1.5 billion Birr by 2027, positioning itself as a leading player in Ethiopia's insurance industry.

Vision

Hibret Insurance aims to be the best insurer in Ethiopia that is committed to a high standard of excellence.

MISSION

To provide complete insurance covers at economic rates, honest, prompt, and courteous claims services, through the aid of state-of-the-art technology to fully satisfy its constituencies: Customers, Employees, Shareholders, Society and the Environment.

Core Value

Core value of Hibret Insurance is

• Customer Supremacy

United/Hibret Insurance offers the following products and services:

General Insurance

• Motor Insurance: Protects against accidents, theft, and damage to vehicles.
• Home Insurance: Covers damage to homes due to fire, theft, or accidents.
• Burglary and Housebreaking Insurance: Provides compensation for loss or damage due to burglary.
• Fire and General Accident Insurance: Covers losses from fire and other general accidents.
• Property Insurance: Protects against damage or loss of physical property.
• Engineering Lines: Insurance for machinery, plant, and equipment.
• Travel Insurance: Covers unexpected issues while traveling, such as cancellations or medical emergencies.
• Group Personal Accident Insurance: Provides accident coverage for groups of employees or individuals.
• Aviation Insurance: Covers aircraft-related accidents and damages.
• Marine Insurance: Protects against loss or damage to cargo and vessels at sea.
• Liability Insurance: Covers legal liabilities arising from accidents or damage caused to third parties.
• Plate Glass Insurance: Insures against damage to plate glass in commercial properties.
• Political Violence and Terrorism Insurance: Provides coverage against risks from political violence or terrorism.
• Money Insurance: Insures against loss or theft of money in transit or at business premises.
• Guarantees and Bonds: Provides assurance against the failure of parties in contractual agreements.

Life Insurance

• Life Insurance: Provides financial protection for loved ones in the event of death.
• Health and Accident Insurance: Covers medical expenses and accidents.
• Saving and Investment Plans: Financial products to help build savings and investments.
• Group Personal Accident Insurance: Accident coverage for a group of individuals or employees.