About Nyala Insurance
Establishment: Founded in 1995, Nyala Insurance S.C. (NISCO) is a prominent insurance company in Ethiopia, initially focusing on general insurance business.
Capitalization: Started with a subscribed capital of Birr 25 million and a paid-up capital of Birr 7 million, NISCO expanded its paid-up capital to Birr 35 million in 2005. Over the past decade, its paid-up capital has surged to Birr 830 million.
Operational Presence: Headquartered in Addis Ababa, NISCO operates through a network of 48 service outlets, including 41 Service Centers and 7 Contact Offices, spread across Ethiopia.
Financial Performance (2023): In 2023, NISCO wrote Birr 1.3 billion of premium income, realized a gross profit of Birr 303.6 million, and managed total assets worth Birr 3.8 billion.
Strategic Direction: NISCO has adopted a forward-thinking approach by shifting its focus to digital insurance services. The company introduced a five-year strategic plan named “DigiLeap,” aiming to digitize its operations and enhance customer experience.
Vision: Aspires to become the preferred provider of insurance solutions in all markets served.
Mission: Committed to helping customers manage risks, recover from the unexpected, and attain peace of mind.
Core Values:
Protection with Care: Emphasizes care in relationships with customers and employees.
Professionalism: Engages in professional conduct adhering to ethical standards.
Accountability: Ensures accountability to customers, shareholders, employees, competitors, and society.
Integrity: Conducts business honestly, ethically, and consistently.
Excellence: Strives to achieve excellence through innovation, learning, and agility.
Teamwork: Believes in collaborative problem-solving with colleagues and customers.
Innovation: Promotes innovation, creativity, and continuous improvement to meet and exceed customer expectations.
Address and Contact Information
Head Office: Protection House, Mickey Leland Street, Addis Ababa, Ethiopia
P.O.Box 12753, Addis Ababa, Ethiopia
Phone: 251-11-6626667
Fax: 251-116626706
Email: nisco@ethionet.et
Website: www.nyalainsurancesc.com
Board of Directors
- Dr. Sara surur (Chair of BoD)
- Ato Asfaw Alemu (Member, Dashen Bank S.C)
- Ato Yonas Duguma (Member)
- Ato Hussen Ahmed (Member)
- Ato Solomon Bedane (Member)
- Ato Ayalew Yimam (Member, Equatorial Business Group PLC)
- Ato Tahir Mohammed (Member)
- Wro. Mintewab Abebe (Member)
- Ato Hussen Saeed (Member)
Executive Management Team
- Yared Mola – Chief Executive Officer
- Astatekie Lulseged – EO, Claims Management
- Woinshet Gossaye – EO, Finance & Investment
- Tegegn Masresha – EO, Marketing & Business Development
- Zewdu Beyene – EO, Underwriting
- Nebiyat Markos – Manager, Engineering Services
- Getu Melkie – Manager, Legal Services
- Abiy Worede – Manager, Strategy & Change Management
- Asratu Aemiro – Manager, MIS
- Hussen Ahmed – Manager, Internal Audit & Quality Assurance
Annual Reports
Please visit http://nyalainsurancesc.com/?q=article/annual-reports
