About Lion Insurance Company S.C. (LIC)
It gives us great pleasure to declare Lion Insurance Company’s keen desire to establish a mutually beneficial business relationship with your esteemed organization. Allow us therefore to reintroduce Lion Insurance Company (S.C.) and its services. To this end, we are pleased to hereby file the Company’s profile on the Ethiopian insurance industry for your records
Lion Insurance Company (S.C) liable to its policyholders by transferring risk from an individual and business to the company. The Company was established in June 2007 by over 300 shareholders and has a broad public base. The company was registered at an ever higher initial paid-up capital of Birr 16 million and a subscribed capital of Birr 66.4 million which was one of the highest capitalized companies in the private insurance sector at formation. Lion Insurance Company (S.C) provides Non Life (General) Insurance and Life Assurance service to the Public.
Company performance of the 30 July, 2023 fiscal year.
- Paid-up Capital Birr 250,613,101.00.
- Total Assets Birr 1.7 Billion.
- Total Equity Birr 118.3 Million.
- General Insurance Gross Written Premium (GWP) of ETB 761 Million as of May,2023.
- Gross profit or Loss of last year as of June 2021-22 is Birr 66.2 Million
- Subscribed Capital Reached Birr 300 Million.
The Company has acquired its own recovery yard area 7200 m2 at Akaki/Kality Sub City near Midroc Terminal and also owns a G+7 & G+6 building for its Head Quarter built on 1000 m2 area which is found on the street of Haile G/Sellasie Avenue, Lion Insurance Building.
Organization & Management
Lion Insurance Company (S.C.) is organized in such a way that it would easily to provide an efficient service to its customers. It is characterized by a flat organization structure with all units having broad authorities and thus customers’ cases shall be resolved expeditiously. The Board of Directors is the highest management body of the Company (S.C.). The Board is composed of renowned entrepreneurs and professionals who are highly dedicated to employ their expertise and experience to the Company’s growth and development.
The Executive Management as well represents a team of qualified and experienced professionals and practitioners in the insurance industry who tirelessly work towards the achievement of the Company’s objectives and to the satisfaction of its customers. Short profile of Management Teamof the Company is appended at the end of the document.
Lion Insurance Company has total employees of 347 where 71.7%were core staffs and the remaining 28.3% were support staffs as well as 47.5% were males and 52.5% were females (June, 2021).
The Company’s service philosophy centers on indemnifying its customers with equitable compensation and timely service. To make efficient to claims service, decentralization has been made to the outlying branches Mekelle, Adama, Gondar, Hawassa, Bahir Dar, D/Markos, Adwa and Shire with authority limit from 30,000 up to 100,000 ETB.
The Management of the Company is guided by adhering to applicable professional standards, ethics of conduct and good governance in implementing its goals and objectives. Furthermore, in Lion Insurance Company, as core stakeholders, clients are encouraged to participate in all corporate decision making processes in general and in claims handling service.
The Following Mission, Vision & core values of the company are taken from the existing strategic plan and put as it is.
Committed to serve our customers by offering quality and innovative insurance solutions, and capitalize shareholders’ wealth by diversifying investment, through the culture of client .centricity, by means of cutting age technology, the best professionals and discharging corporate social responsibility.
To be the leading private insurer in Ethiopia by 2031
- Ongoing responses
- Team work
- Yielding partnership
Hard Workers Employees
Our Major Clients
In the very short period of time the Company has been in operation, has managed to win the clientele of many big organizations among which are the following:
- NE-TSA P.L.C.
- Selam Bus P.L.C.
- Grand United Transport Cross Border Level 1,A Fright Transport Owners Association.
- Unity Freight Transport Owner Association P.L.C.
- Union Freight Transport Owner Association P.L.C.
- Yetebaberut transport Owner Association P.L.C
- Sebrina Transport Owner Association
- Wolele Transport Owner Association.
- Dalolle Transport
- Gehone Transport
- Arvind Life Style P.L.C.
- AL-ASR Textile Factory
- AL-Hassen Food Industries
- Al-Mehdi Group of Industries P.L.C.
- Avon Industries P.L.C.
- EAB Technology Solution P.L.C.
- ECC Energy
- Crown Textile P.L.C.
- Dubai Auto Gallery
- SRBC Addis Engineering
- China Highway Group Limited
- China Railway 7th Group Ethiopian Branch
- Syno-Hydro Corporation
- CGCOC Overseas Construction Eth. Ltd(Road Bridge Project)
- Cross Land Construction PLC
- China Jiangaxi Corporation for International & Economic Technical Cooperation.
- AhmetAydeniz Construction Co- Bokra Construction P.L.C.
- Flower Construction P.L.C.
- Melcon Construction P.L.C.
- Zamra Construction
- Gallob Real Estate Dep’t P.L.C.
- United Construction P.L.C.
- Craft Construction P.L.C.
- Ayro Construction P.L.C.
- Zeta Construction P.L.C.
- Mohan P.L.C.
- Habesha Cenent S.C
- Getas International P.L.C.
- Gumsa Trading P.L.C.
- AGRISHER Trading P.L.C.
- Mulugeta Mekonnen
- A.G.T.A. P.L.C.
- Alba Business P.L.C.
- ALSAM P.L.C.
- Ambassador Garment & Trade P.L.C.
- Aqua Pure General Trading
- Associated Transit, Transport & Shipping P.L.C.
- AZ P.L.C.
- Baba International
- Basefa Trading P.L.C.
- Comet Trading House P.L.C.
- Country Trading P.L.C.
- Dag Trading P.L.C.
- Et-taz International Trading
- Eyasu Drug & Medical Supplies Import & Distributor
- Firdows General Import & Export Commission Agent Golagul Trading P.L.C.
- Tamirine International Trade
- Tekaf Trading P.L.C.
Hotels, NGOs, Educational Institutions & Financial Institutions
- Harmony Hotel
- Holiday Hotel P.L.C.
- InterContinental Hotel
- Nigist Saba Hotel
- Kaleb Hotel
- Abyssinia Renaissance Hotel
- Radisson Blue Imperial Hotel
- Africa Humanitarian Aid &Dev’t Agency.
- Care Ethiopia
- Tetra Tech (ARD)
- Cord Aid
- Tigray Development Association
- The Development Fund (FD)
- Mercy Care Ethiopia
- Admas University
- SRI SAI Consultants, Mgnt& Business
- work with all Banks