- Sub City
- Property Type
Nyala Insurance S.C. (NISCO) is one of the leading Insurance Companies in Ethiopia in terms of performance growth and financial position.
It was established in 1995 to engage in general insurance business pursuant to the enactment of the Insurance Business Proclamation 86/1994 with a subscribed capital of Birr 25 million and paid-up capital of Birr 7 million.
In 2005, NISCO turned into a composite insurer by adding life business and increasing its paid-up capital to Birr 35 million. During the last five years, NISCO has grown very quickly and currently, its Paid-up capital reached Birr 600 million.
With a head quarter in Addis Ababa, Nyala Insurance S.C. operates in almost all regional states in Ethiopia through a network of 46 service outlets (35Service Centers and 11 Contact Offices)distributed all over the country.
In 2020, NISCO wrote Birr 565.3 million of premium income and realized a gross profit of Birr 149 million, and while its total assets were Birr 2.2 billion.
NISCO has profoundly revised its previous course of business situation, and keenly formulated a forward-looking Strategic Plan that would help the Company efficiently deploy its financial, physical and human resources towards achieving higher growth.