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
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.
Company performance of 2024.
- Paid-up Capital Birr 450.07 Million
- Total Assets Birr 2.8 Billion.
- Total Equity Birr 689.7 Million
- Gross Written Premium (GWP) of ETB 1.2Billion
- Authrized Capital Reached Birr 1.2 Billion
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 life Assurance products.
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.
The manpower status Lion Insurance Company has total employee of 344 where 59% were core staffs and the remaining 41% were support staffs as well as 36% were males and 64% were females (May, 2024).
Service Philosophy
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 limit authority.
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 to improve and maximizing our service Excellency.
Company Statement
A company statement is a brief description of a company’s values, mission, and overarching goals. It is often used to communicate the essence of the organization to employees, stakeholders, and the public.
Mission
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.
Core Value
- Protection
- Reliability
- Innovation
- Ongoing responses
- Responsibility
- Integrity
- Team work
- Yielding partnership
Business People
Branch
Customers
Hard Workers Employees