Nib Insurance Company (NIC) was established by 658 shareholders with an authorized capital of Birr 50.0 million and a Paid-Up Capital of Birr 14.0 million in May 02, 2002 with 4 branches in Addis Ababa and a total staff size of not more than 50. Currently, the paid up capital has reached to Birr 250 million and the number of shareholders increased to 1,014. NIC provides both General (Non-Life) Insurance and Life Assurance Services to its clients.
The Company undertakes its operations through its Head Office, 42 branches and 1 Contact Office (For the General Insurance) and 1 Life Assurance branch. Twenty-Seven of the branches are located in Addis Ababa. Currently, the number of employees working for NIC has reached to 416.