About us

An overview

Nyala Insurance S.C. (NISCO) is a leading insurance company in Ethiopia known for its strong performance, growth, and financial position. Established in 1995 with a subscribed capital of Birr 25 million and paid-up capital of Birr 7 million, NISCO initially focused on general insurance business.

In 2005, it expanded to include life insurance and increased its paid-up capital to Birr 35 million.

NISCO has experienced rapid growth, with its paid-up capital reaching Birr 1.2 billion.

Headquartered in Addis Ababa, NISCO operates through a network of 48 service outlets (43 Customer Experience Hubs and 6 Contact Offices) across Ethiopia.

In 2024, the company wrote Birr 1.6 billion of premium income, realized a gross profit of Birr 636 million, and had total assets of Birr 4.5 billion.

NISCO has shifted its focus to digital insurance services and introduced a five-year strategic plan called "DigiLeap." This plan aims to digitize the insurance business and reflects the company's forward-thinking approach.

 

Registered Office 

Protection House, Mickey Leland Street 
P.O.Box 12753, Addis Ababa, Ethiopia 
Tel. 251-11-6626667 
Fax 251-116626706 
e-mail nisco@ethionet.et
Website www.nyalainsurancesc.com  

 

VISION

 

To be the preferred provider of insurance solutions in all markets we serve .

 

MISSION

 

To help our customers manage their risks, recover from the unexpected, and achieve peace of mind.

 

VALUES

 

CARE WITH PROTECTION :- We care for and financially protect our customers, stakeholders, and employees.

INNOVATION: - We innovate and adapt to meet the changing demands of our customers.

AGILITY: -We act with speed and purpose.

PRUDENCE: - We employ prudence in all our business practices.

BEING EASY TO DO BUSINESS WITH: -We strive to meet and exceed customers' expectations by being responsive and efficient.

 

LOGO

 

The Nyala HEAD superimposed on the traditional Ethiopian SHIELD is chosen as the company's LOGO for the following reasons: In recognition of the role the Ethiopian patriots and the conservationists played in "Caring" and "Protecting" Ethiopia and its resources, human as well as natural, and in declaration of our pledge to give deserving "Care and Protection" to our customers, their dependents and their hard-earned assets.

The Head:

The Mountain Nyala, once known as "Queen of Sheba's Antelope, was some 40 years ago dangerously close to extinction. Thanks to the "CARE and PROTECTION" both National and International friends of wild life, the risk was averted and presently the Nyalas are proliferating. The Head, therefore, signifies the commitment our staff have to always give "CARE and PROTECTION" to their business partners.

The Shield:

History tells us that Ethiopia's gallant people "protected" Ethiopia and their fellow Ethiopians from the risk of being colonized with heartfelt dedication and hand held "TRADITIONAL ETHIOPIAN SHIELD". The "SHIELD" therefore signifies our colorful history of freedom and no colonial past! It doubly signifies our commitment of "CARE and PROTECTION" to our business partners.

 

MOTTO

 

 ”አለኝታዎ” in Amharic

“PROTECTION WITH CARE” in English    

Auditors

Tafesse Shisema and Ayalew Certified Audit Partnership

Bankers

 
Dashen Bank
Bank of Abyssinia 
Nib International Bank   
United Bank
Zemen Bank
Commercial Bank of Ethiopia
Wegagen Bank
Awash International Bank
Abay Bank
Bunna International Bank

 

Human Resources

 

Nyala Insurance S.C. has skilled, young, and motivated workforce.  The Company’s Human Resource Policy is to follow “Grow Own Trees” strategy and recruit young and dynamic graduates mostly direct from higher learning institutions. One amongst such endeavors is Nyala Insurance Graduates Trainee Program (NISCO GTP) that is directed towards recruiting and developing exceptional performers in order to ensure the sustainable supply of skilled manpower needed to execute its strategy.

In view of delivering a superior Customer Service, the training and development activity is considered as an investment that is geared towards producing flexible and multi-skilled human resource.  On- the -job coaching and intensive formal/informal trainings conducted locally and abroad are the Company’s routine staff development programs. 

NISCO has a strong stance that promotion always depends on merit and the right person for the job principle only. The manpower strength of the Company stood at 377 of which 52% are male while the remaining 48% are female.  Out of the total employees, about 80% have 1st Degree & above and about 72% of the employees are below 40 years of age with an immense potential to become future leaders in in the financial Industry.

The Company always strives to be a preferred choice where employees are whole heartedly happy and devoted to work.

 

An overview

Nyala Insurance Share Company (NISCO) was founded in July 1995 following the liberalization of the insurance business to the private sector in 1994 with the Licensing and Supervision of Insurance Business Proclamation No. 85/1994. Read more...

Investments

Apart from its major investments in real estates in the downtowns of Addis Ababa, Bahir Dar and Nazareth, Nyala Insurance selectively invests in various financial institutions like Dashen Bank, which have potentially high investment returns. Read more...

Links

Contact us

Protection House, Mickey Leland Street

Tel: +251-11-6626679/80/76

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