How much is an insurance in Ethiopia?
Our Cost of Health Insurance Report 2020-2021, which is available for free download, reports that the average cost of health insurance for individuals and families in Ethiopia in 2020 was USD $3,333 and USD $9,329 respectively.
How many insurances are there in Ethiopia?
Under the Ethiopian commercial code, there are three types of insurances. They are insurance against damages, insurance of liability for damages and insurance of persons.
How many insurance companies are there in Ethiopia 2020?
The number of insurance branch offices all over Ethiopia has reached 424 showing a 13% growth over the same period last year. Furthermore, registered in Ethiopia were over 1,950 insurance sales agents, 53 insurance brokers, 97 loss assessors, 2 surveyors and 2 reinsurance companies namely, Africa-Re and Ethio-Re.
What is the insurance industry in Ethiopia?
The Ethiopian insurance industry is regulated by the NBE. Motor third-party liability insurance and professional indemnity insurance for insurance intermediaries are compulsory classes of insurance. Composite insurance is permitted in Ethiopia. The government does not permit FDI in the insurance industry.