Zemen Insurance – Zemen Insurance

Zemen Insurance Share Company (ZISC) is a Private Insurance Company which was established by 926 shareholders and registered at Ministry of Trade and Industry on January 24, 2020 and obtained nonlife or general insurance license by National Bank of Ethiopia on January 17/2020. The company has started insurance operation as of June 5/2020.

The number of branches has currently reached to Thirty-Five /35/ and planned to add more branches to outreach the total number of branches to thirty-seven /37/ in the year 2025/26 both in Addis Ababa and outside Addis Ababa.

Fifth Year Anniversary and Staff Day Celebration
Fifth Year Anniversary and Staff Day Celebration
Cybersecurity awareness training has given to the management and to senior staffs in collaboration with INSA Cybersecurity experts!!

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GENERAL

General Insurance also called non-life insurance: This category includes property and liability.

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LIFE

Zemen Insurance S.C is not providing life insurance products. It is working on a project to launch life insurance by mid-2026.

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TRAVEL

Travel Insurance: Zemen Insurance S.C launched a travel insurance program for international travelers in collaboration .

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Our Vision

To be one of the top five Insurance company in Ethiopia by 2035

Our Mission

To render outstanding insurance service to its customers by using qualified staffs, state of the art technology, sustainable, vigorous growth and ensuring profitability through socially responsible manner and contribute the insurance industry’s growth.

Our Core Values

T=Timely-Provide Timely Response

R=Resourceful-build capacity and professional

U=unique-add value through innovation & creativity

S=Service-Provide Quality Service

T=Teamwork-collaborate openly and Honesty

We TRUST and value our customers!

CEO’s Remark

Dear Shareholders, Distinguished Guests, and Partners,
It is my great pleasure to welcome you all to this important gathering and to present the CEO’s remark for the 2024/25 fiscal year. This year has been one of both meaningful progress and profound lessons for Zemen Insurance S.C. We navigated an operating landscape characterized by economic uncertainty, regulatory shifts, rising competition, and organizational transitions. Yet, despite these challenges, our company demonstrated resilience, discipline, and strategic focus achieving commendable performance in growth, profitability, and institutional strengthening.

Our Gross Written Premium Income (GWPI) reached Birr 699.5 million, marking a 28.27% growth from last year, an achievement realized despite delayed branch openings, high staff turnover, and market distortions affecting pricing and fair competition. While we fell short of our target, the growth underscores our expanding customer base and increasing market relevance. Profitability also showed a strong performance: Zemen registered Birr 211.8 million in gross profit 40.3% above budget and a 19.54% increase from last year.

Our paid-up capital grew substantially to Birr 415.3 million, strengthening our financial foundation, while total assets surpassed Birr 1.36 billion, reflecting a solid and growing balance sheet.