National Insurance Company Of Ethiopia
National Insurance Company Of Ethiopia is a privately held Addis Ababa-based insurer, founded in 1994, underwriting personal lines — auto, travel, home, and personal insurance — for Ethiopian retail consumers with a 51-100 employee workforce.
- Company typePrivate
- Founded1994
- HeadquartersSan Antonio, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What National Insurance Company Of Ethiopia does
National Insurance Company Of Ethiopia (NICE) is a privately held, for-profit general insurer headquartered in Addis Ababa, Ethiopia, founded in 1994. The company underwrites personal lines of insurance — auto, travel, home, and personal insurance — serving Ethiopian retail consumers rather than commercial or institutional buyers. Its distribution model is anchored on its website (niceinsurance-et.com), which currently presents only a loader/verification page rather than a transactional portal, suggesting a broker-and-branch-led retail distribution rather than direct digital acquisition.
The company operates with a lean 51-100 employee base led by CEO Besrat Hailesilassie alongside COO Misrak Wondafrash and Chief of Strategy Gizeaddis Balemual. No information is available regarding its technology stack, claims platform, underwriting automation, reinsurance arrangements, capital structure, or ownership composition. The absence of disclosed financials, funding history, and product-level pricing means the firm's economics, unit economics, and capital adequacy cannot be evaluated from the public data.
NICE's product scope is narrow by regional standards — limited to four personal lines with no disclosed life, health, commercial, or reinsurance offerings. The Ethiopian insurance market remains underpenetrated (typically estimated at under 1% of GDP), positioning the firm in a market with substantial latent demand but constrained disposable income. The core open questions for any diligence effort are: (1) ownership and government linkage given the "National" branding, (2) the state of the digital distribution and underwriting infrastructure, and (3) regulatory capital adequacy and reserves given no disclosed solvency data.
National Insurance Company Of Ethiopia firmographics
Firmographics- Name
- National Insurance Company Of Ethiopia
- Website
- https://niceinsurance-et.com
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- National Insurance Company Of Ethiopia is a privately held Addis Ababa-based insurer, founded in 1994, underwriting personal lines — auto, travel, home, and personal insurance — for Ethiopian retail consumers with a 51-100 employee workforce.
- Ownership category
- akta.pro rank
National Insurance Company Of Ethiopia industry classification
Industry- Product category
- General Insurance
- NAICS
- Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro industry
- Personal Auto InsuranceTravel & Accident (Non-Life) Insurance
Keywords
Where National Insurance Company Of Ethiopia is headquartered
LocationHeadquarters
- HQ city
- San Antonio
- HQ country
- United States
- HQ region
- North America
Markets served
National Insurance Company Of Ethiopia business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
National Insurance Company Of Ethiopia product offering
Product offeringCore offering
National Insurance Company Of Ethiopia is a private Ethiopian insurance provider headquartered in Addis Ababa, founded in 1994. It sells general insurance products to individuals, including auto, travel, home, and personal insurance policies, distributed through a small team of 51-100 employees.
Differentiator
Problem solved
Functional benefit
Products and services
- Auto Insurance
- Travel Insurance
- Home Insurance
- Personal Insurance
Companies that use National Insurance Company Of Ethiopia
Customer profileIdeal customer profiles1 record
National Insurance Company Of Ethiopia technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
National Insurance Company Of Ethiopia partnerships and signals
Strategic signalRecent moves2 records
Expansion highlights2 records
National Insurance Company Of Ethiopia competitors and assessment
Company assessmentDirect peers
- Ethiopian Insurance Corporation: State-owned general insurer in Ethiopia offering motor, property, and personal insurance lines — the most direct domestic competitor to NICE on multi-line personal coverage.
- Africa Insurance Company S.C. Ethiopian insurance carrier offering general insurance products including motor and property — directly comparable Ethiopian market competitor.
- Nyala Insurance S.C. One of Ethiopia's largest private insurers offering motor, property, marine, and personal insurance — competes head-to-head with NICE on multi-line personal products.
- United Insurance Company (Ethiopia): Ethiopian insurer offering general insurance lines, competing in the same Addis Ababa domestic market on multi-line personal coverage.
- Awash Insurance Company S.C. Ethiopian general insurer providing motor, fire, and personal lines — a domestic peer with broader product breadth than NICE.
Broad incumbents
- Allianz: Global insurance leader with growing African footprint in motor, property, and travel insurance — relevant broad incumbent and potential strategic entrant or partner for Ethiopian insurers.
- Britam Holdings: Pan-African financial services group with insurance operations in Kenya, Uganda, Tanzania, and other markets — comparable as a broader incumbent offering personal insurance lines including motor and travel.
- AXA: Global insurance incumbent with emerging-market Africa operations offering motor, property, and travel lines — relevant broad incumbent peer and potential entrant into Ethiopia post-liberalization.
Regional players
- APA Insurance (Apollo Investments): East African insurer with general insurance and life operations across Kenya and Uganda — comparable on multi-line personal insurance product strategy in a neighboring market.
- Jubilee Insurance: East African insurance group operating across Kenya, Uganda, Tanzania, and Burundi with motor, travel, and personal lines — relevant regional peer given cross-border East African insurance dynamics.
Market position
Strengths3 records
Weaknesses3 records
Competitive moat3 records
Key risks4 records
Key highlights3 records
Customer concentration
National Insurance Company Of Ethiopia social profiles
Digital presenceNational Insurance Company Of Ethiopia financial estimates
Financial estimateRevenue estimate
Valuation estimate
National Insurance Company Of Ethiopia leadership team
Management profileNumber of profiles
Profiles3 records
National Insurance Company Of Ethiopia funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
National Insurance Company Of Ethiopia M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about National Insurance Company Of Ethiopia
What does National Insurance Company Of Ethiopia do?
National Insurance Company Of Ethiopia is a private Ethiopian insurance provider headquartered in Addis Ababa, founded in 1994. It sells general insurance products to individuals, including auto, travel, home, and personal insurance policies, distributed through a small team of 51-100 employees.
When was National Insurance Company Of Ethiopia founded?
National Insurance Company Of Ethiopia was founded in 1994. It employs 1 to 10 people.
Where is National Insurance Company Of Ethiopia based?
National Insurance Company Of Ethiopia is headquartered in San Antonio, United States, in the North America region.
Who are National Insurance Company Of Ethiopia's main competitors?
Direct peers on record are Ethiopian Insurance Corporation, Africa Insurance Company S.C., Nyala Insurance S.C., United Insurance Company (Ethiopia) and Awash Insurance Company S.C.. Broad incumbents are Allianz, Britam Holdings and AXA. Regional players are APA Insurance (Apollo Investments) and Jubilee Insurance.
Does National Insurance Company Of Ethiopia have an API?
No public API is recorded for National Insurance Company Of Ethiopia.
What industry is National Insurance Company Of Ethiopia in?
National Insurance Company Of Ethiopia's product category is General Insurance. Its primary akta.pro industry code is FSAJAMAA, Personal Auto Insurance, with a secondary code of FSAJAMAN, Travel & Accident (Non-Life) Insurance. Its NAICS code is 52412 and its SIC code is 6331.