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| Establishment |
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Private Business Institution of whatever nature except the informal and uncontrollable economic sector, had been naturalized by the Socialist Regime prevailed from 1974 to 1993. During this period, all the existing Insurance Companies were taken over by government owned Insurance Corporation. However, following the change to market led economy in 1994, many private business institutions such as Banks and Insurance and others were established and Nyala was the NO.7 to be licensed in July 1995.
Nyala Insurance S. C. or “NISCO” was established with Birr 5.0 Million. capital and 7.0 Million. paid up, later increased to Birr 25.0 Million. in 19…. and at further increased to Birr 30.00 Million. as at July 2005.
The Staff, Management and the Board of Directors are all devoted to do their interest towards the realization of Company's commitments and value statements. |
| Vision |
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Guarantee "CARE and PROTECTION" to all our stakeholders and delivering it faithfully and responsibly. |
| Mission |
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Continuously interact with and recognize clients point of views. Ensure clients fully understood the term and conditions of protection policies before commitment. Ensure own staff always follow the company's business principles and practices. Implement a state-of-the art information system so that customer services are enhanced by way of providing timely and accurate information.In short, practice the old saying; "The Customer is The King ! " |
| Identity/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. |
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The Shield : |
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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 "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. |
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The Head : |
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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. |
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The Public opinion is that Nyala Insurance is in the fine front in the financial strength, underwriting production, up-to-date decentralized Management System Application of Information Technology and Service network penetration nation wide.
The Company has always shown year - to - year growth in manpower, business volume profitability, and above all public acceptance not only as “Caring and Protecting” institution but as part and parallel of the local community. |
| Directors: |
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Board Members: |
| Ato Mardouf S. Bazaham - Chairman |
| Ato Seid Hussein Ali-Al-Amoudi |
| Ato Abdella Hussein Ali-Al-Amoudi |
| Ato Tadele Tefera |
| Ato Nahu-Senaye Araya |
| Board Secretary: |
| Ato Hussien Ahmed |
| Management Team: |
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Ato Nahu-Senaye Araya - Chief Executive Officer |
| Ato Eyob Meherette - D/Chief Executive Officer |
| W/ro Sophia Belay - Executive Officer, Marketing and Customer Service |
| Ato Hussein Ahmed - Executive Officer, Finance and Property Management |
| Ato Alemnew Tegene - A/Executive Officer, U/W and Product Development |
| Ato Michael Kedir - A/Executive Officer, HR Administration |
| Ato Misrak Bogale - A/Executive Officer, Engineering and Risk Management |
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Ato Hailemariam Dinka - A/Executive Officer, Customer's Claim Service |
| Auditors |
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Nawar & Co. Chartered Accountants and Auditors |
| Bankers |
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Dashen Bank s.c. |
Commercial Bank of Ethiopia |
| Bank of Abyssinia |
NIB International Bank |
| Wegagen Bank |
Awash International Bank |
| Staff |
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Nyala Insurance has qualified, young, motivated and committed staffs. The Company's Human Resource Policy is to follow "Grow Own Trees" strategy and recruit young and dynamic graduate Ethiopians mostly straight from higher learning institutions. On the job coaching and intensive formal/informal training, local and abroad are the company's routine staff development program. At Nyala staff training is considered not an expense, but as an investment. |
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Staff Profile By Age: |
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Age Group |
% |
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Over 50 |
5 |
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41 to 50 |
12 |
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31 to 40 |
34 |
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Below 31 |
49 |
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Profile By Education: |
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Education |
% |
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2nd Degree |
5 |
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1st Degree |
45 |
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Diploma |
29 |
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High School |
31 |
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