Nile Insurance Company S.C.

Nile Insurance Company (S.C.) was founded in April 1995 with a capital of 12.5 million Birr. With over 29+ years of experience in the insurance industry, it has grown to a capital of 1 billion Birr, expanded to 65 branches, and serves over 100,000 customers. The company offers general, long-term, and Takaful insurance services, with total assets reaching 3.6 billion Birr.

Vision

To be an insurer of the first choice

MISSION

To provide unmatched value in insurance services to our customers through high profile expertise and state of the art technology thereby maximizing shareholders’ value.

Core Value

Core value of Nile Insurance is

• Integrity
• Accountability
• Innovativeness and creativity
• Team work
• Socially responsible
• Customer focus

Nile Insurance offers the following products and services:

1) General Insurance

• Property Insurance: Coverage for damages to property due to various causes.
• Engineering Insurance: Insurance for machinery and engineering-related risks.
• Liability Insurance: Protection against legal liabilities arising from accidents.
• Pecuniary Insurance: Coverage against financial losses.
• Group/Personal Accident Insurance: Insurance for accidental injuries or death.

2) Life Insurance

• Term Insurance: Life coverage for a specific period.
• Endowments Insurance: Insurance combining life cover with savings.
• Whole Life Insurance: Lifelong coverage providing both protection and savings.

3) Takaful

• A Sharia-compliant insurance model based on mutual cooperation and shared responsibility.

Motor Insurance

• Motor Comprehensive Cover: Covers injury, death, property damage, fire, theft, Banda, and gorilla.
• Compulsory Third Party Cover: Mandatory coverage for third-party injury, death, or property damage.
• Third Party Fire & Theft Cover: Covers third-party damage and includes fire and theft.

Fire & Lighting Insurance

• Covers losses caused by fire and lightning, including smoke and water damage.

Marine, Inland Transit & Air Insurance

• Covers loss or damage to ships, cargo, terminals, and transport between origin and destination.

Burglary & Housebreaking Insurance

• Covers property loss due to theft by forcible entry or damage during attempted theft.

Plate & Glass Insurance

• Covers the replacement or payment for broken glass in the insured’s premises.

All Risk Insurance

• Covers property loss or damage from various risks, including theft and accidents.

Engineering Insurance

• Contractor’s All Risk Insurance: Covers loss or damage to property during construction, excluding certain risks like war.
• Machinery Breakdown Insurance: Covers unforeseen damage to machinery due to defects, accidents, or neglect.
• Electronic Equipment Insurance: Covers electrical equipment against damage while in use or storage.
• Boiler & Pressure Vessel Insurance: Covers damage to boilers and pressure vessels, and related legal liabilities.
• Erection All Risk (EAR): Covers loss or damage during the erection process of machinery or structures.

Liability Insurance

• Public Liability Insurance: Covers legal costs and compensation for injury or property damage to third parties.
• Product Liability Insurance: Covers manufacturers or suppliers against claims for defective products.
• Professional Indemnity: Covers professionals against negligence claims.
• Carrier Liability Insurance: Covers loss or damage to goods in transit.
• Workmen’s Compensation: Provides wage replacement and medical benefits to employees injured during work.

Pecuniary Insurance

• Money Policy (in Safe and in Transit): Covers loss or damage to money during transactions or in safes.
• Fidelity Guarantee Insurance: Covers fraud or dishonesty committed by an employee.
• Bonds

1. Performance Bond: Ensures contractors fulfill contract terms or compensates for defaults.
2. Advance Payment Bond: Ensures contractors fulfill terms for advance payments.
3. Supply Bond: Guarantees the delivery of specified supplies or materials.
4. Bid Bond: Guarantees suppliers fulfill contract terms or compensates for defaults.
5. Retention Bond: Protects the customer against defects after project completion.

Group Personal Accident (GPA)

• Provides lump-sum benefits for death, disability, and injury; covers surgery, fractures, loss of teeth, and loss of income due to sickness or injury.