The Ethiopian Insurance Industry is Regulated by the National Bank of Ethiopia

Date: 2015-09-01

“• The Ethiopian insurance industry is regulated by the National Bank of Ethiopia.

• Motor third-party liability insurance and professional indemnity insurance for insurance intermediaries are compulsory classes of insurance.

• Composite insurance is permitted in Ethiopia.

• The government does not permit FDI in the insurance industry.

• Non-admitted insurance is prohibited in Ethiopia. However, unauthorized reinsurance companies can reinsure risks located in Ethiopia on a cross-border basis.”

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