Africa Insurance Company S.C. is privately owned composite insurance company established on December 8, 1994 in accordance with the Insurance Business Proclamation No. 86/1994 and the Commercial Code of the country. In addition it is engaged in investment business which includes bonds, equity shares, and other related areas which directly or indirectly have the potential to augment its core business activity.

The company was setup with the subscribed capital of ETB 30 million and paid up capital of ETB 15 million. As at June 30, 2025, it has registered paid-up capital of ETB 603 million. Furthermore, in its annual general meeting held in Addis, the shareholders pledged to raise the Company’s capital to ETB 2 billion in the coming three consecutive years aiming to put it as one of the strongest and vibrant Companies in the nation, whereby it is deemed to help as the building block towards its vision.

As of June 30, 2024, the number of employees reached 368.Over the years, the business of the Company has been growing significantly. As one of the pioneers in the sector, AIC has contributed its share in the growth of the insurance sector in particular and the financial sector in general.