The number of insurance companies increased to 14 as two more private insurance companies were opened during the year. Their branch network reached 221 following the opening of 11 additional branches during the same period. Except 1, all the other insurance companies with a branch network of 81.4 percent were privately owned. About 51% of these insurance companies are in Addis Ababa.

Top Insurance Companies in Ethiopia

 Oromia Insurance Company

Oromia Insurance Company S.C. is a profit making Insurance Company has been formed since February 2008 and is established in January 2009. Oromia Insurance Company has a vision “to be a leading insurer” which requires a sound insurance maker whose members should play their role to build a successful economy.

It will achieve its vision by:
- Building long-term beneficial relationship with its stakeholders and other business partners.
- Employing, developing and retaining highly motivated professional team of employees that add value to the company and its customers.
- Building profitability and financial strength suitable to be a lead insurer.
- Practicing fair business ethics and values.
- Using information and communication technology.

 Lion Insurance Company

Lion Insurance Company is an experienced workers' compensation provider covering an expansive spectrum of industries through our affiliated professional employer organization (PEO) SouthEast Personnel Leasing. The company's extensive experience gives them unique knowledge needed to help reduce workplace injuries, control claim costs, fight fraud and abuse and ultimately improve the bottom line.

 Africa Insurance S.C.