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E 41 of the Monetary and Banking Proclamation No. 83/1994 and Article 42 of the Licensing and Supervision of Insurance business Proclamation No. 86/1994. Definitions In these Directives, unless the context provides otherwise: "Related parties" shall mean directors, founders, principal officers, employees and other businesses in which they have direct interest. "Residence" shall have the meaning assigned to it under Article 174 of the Commercial Code of Ethiopia. "Proclamation" shall mean proclam.

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Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance.

ing to the Ethiopian Commercial Code, a code governing Insurance policies, an Insurance policy is “a contract whereby a person called the insurer, undertakes against payment of one or more premium to pay to person, called the beneficiary, a sum of money where a specified risk materializes.

The findings of the paper indicate that lack of qualified insurance professionals, retaining existing customers, existing of price war among companies and increasing number of motor vehicles accidents are the current challenges of the insurance industry in Ethiopia.

The Ethiopian insurance industry is regulated by the NBE.

Proclamation No. 86 /1994, which is named as “the Licensing and Supervision of Insurance Business”, is presently used as a legal base for insurance industry in Ethiopia. To liberalize insurance sector, this proclamation allows domestic private sectors to invest in insurance industry.

The Ethiopian insurance market will remain at an embryonic stage of development over the medium term, characterised with low levels of insurance penetration and density. The market is dominated by non-life insurance, with life insurance only accounting for around 7% of total insurance premiums written.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232