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About Lion Insurance

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 vis-à-vis the Ethiopian insurance industry for your records

Establishment

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.

Currently, the position of the Company has:

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.

Lion Insurance Company (S.C.) has been licensed to transact all life and non-life insurance products. Currently, the company is providing a full range of non-life products and just to launch the life insurance products.

Organization and Management

Lion Insurance Company (S.C.) is organized in such a way that it would easily be able 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 Company is organized with three decision making layers:

GA

General Assembly

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.

BD

Board of Director

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.

EM

Executive Managment

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 Team of the Company is appended at the end of the document.

The manpower status of the Company in the period under review stands at 347, while the headcount stood at 338 at the start of the budget year which is the result of 38 recruitments and 29 terminations.

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).

Company Statement

M

Mission

To excel in performance to the satisfaction of all stakeholders in providing comprehensive insurance covers and venturing to engage in diversified investment by employing competent expertise and applying up-to-date technology.

V

Vision

To be the most competent, dependable, reliable and preferred insurance service provider in Ethiopia

CV

Core Values

  • Passion for Customers
  • Professionalism
  • Empowerment
  • Integrity
  • Team Work
  • Cooperation and partnership
  • Social Responsibility

N.B:- Lion Insurance Company (S.C.) has never been blacklisted from any Government, Semi-Government and other Autonomous body.