RE: COMPANY PROFILE

NYALA INSURANCE S.C. (NISCO)

It gives us great pleasure to formally file our companys profile for your record. This is of
course in line with our desire to establish/strengthen a business relationship with your
good selves.

1. Nyala Insurance S.C. (NISCO) is established in July 1995 with a vision of To be the
preferred provider of insurance solutions in all markets we serve and a mission of
guaranteeing Care and Protection to clients. The attached annual report would show the
financial position and the management strength of the company.

2. NISCO is represented in all the 9 regions and the 2 city administration of the country and
has 32 Service Centers (Branches) and 13 contact offices. While 19 branches are located in
Addis Ababa, 25 are located outside Addis Ababa in Awassa, Bahir Dar, Dire Dawa,
Dessie, Jimma, Mekele, Nazareth, Gondar, Woldia, Jijiga ,Dilla, Woldya, Logia , Assosa ,
Nekempt , Shashemenie , Debreberhan, Debre Markos, Welayta Sodo , Asebe Teferi
,Gambela, Axum, Shshemene and Furi. This has made NISCO the only private company
with such vast branch network and area coverage. It would in particular be advantageous
to the company to efficiently and quickly handle claims of its clients where the accident
takes place.

3. NISCO provides nationwide continuous service from 8.00 to 17:00 hrs and 24/7
emergency assistance service .We issue Call for Assistance tag for each Motor policy holder
to be placed at a visible place inside their vehicle to help them call the nearest
branch/contact office.

4. NISCO demonstrates its Care and Protection commitment through its Advisory Service
responsible for giving free training and risk management advice to its major existing and
potential customers. Areas to be covered include safety, security, equipment management,
risk management as well as areas where the customer may get benefit if indeed the option
of self-insurance is preferred.

5. NISCO has given protection covers for many big organizations among which only few
are the following.

NYALA INSURANCE S.C. Furi Service Center

Protection House Tell. +251-1-662-6667 P.O.Box: 12753
Mickey Leland Street Fax. +251-1-662-6706 Tell: 0113-805096/0960-367831
P.o.Box 12753 Fax: 0113-805079
Addis Ababa, Ethiopia email: yohannesh@nyalainsurancesc.com
 a. General Property and Casualty Sector:- Derba Cement Factory, DIAGEO Meta Abo
Brewery, BGI Ethiopia, Habesha Brewery S.C, Heineken Breweries S.C, Sheraton Addis,
Intercontinental Hotel, The Emerald Addis (Radisson Blu Hotel), Dangote Industries
ethiopia, Ethiopian Commodity Exchange(ECX), Wabishebele Hotel, Rainbow Travel,
National Mining Corporation, MOHA Soft Drinks Industry, World Health Organization
(WHO), World Food Program(WFP), Ethiopian Meadows Plc, Karaturi flowers League
of Arab States, German Technical Cooperation(GTZ), DKT Ethiopia, BAMBIS Plc
,German School, Greek Community School, Karuturi Agro Products Investment, Future
Talent Academy, Save The Children Denmark, Embassy of Kenya, Embassy of Djibouti,
Embassy of Turkey, Embassy of Tunisia, JHPIEGO Ethiopia, Equatorial Business
Group, Nyala Motors, Sheba Steel Mills Industry, Gelan Metal Industry, Target
Industries PLC, Habesha steel Mills Plc , National Motors Corporation, Modern
Building Industries, Varnero Construction, ABC Car Rental ,Universal Metal and
Minerals PLC,OK Plastics Plc, ROTO plc, Mersa Tannery, Crystal Tannery, Ethio
Leather Industries S.C., Ethiopia Cuttings (Syngenta), GlaxoSmithKline, British Council,
Florensis Ethiopia, VSL Limited , Arab Contractors Plc, Kokeb Flour and Pasta Facatory,
GAB Ethiopia Manufacturing, Chinese Medical Team, World Food Program (WFP),
DELOITE/HST, Norwegian Refugee Council, AARTI Steel Plc, ALSTOM SAS Ethiopia,
Millennium Development Ethiopia, Belayab Motors Plc, Kadila Pharmacituticals,
Meskel Flower Hotel, Addika Plc, and many more.

b. Engineering Sector: - NISCO is one of the leading few insurers in the market with
respect to engineering risks owing to its reputable world class re insurers and highly
qualified and well organized engineering department better than any other company in
the market. The company has more than ample experience in this sector .It has managed
to give reliable protection to various mega projects and is steel the preferred one. The
following are some of the projects covered:-
CGC Overseas Construction Group Co. Ltd (CGCOC), Design & Build of
Diredawa Dewelle Road project, Birr 5,959,546,166.99.
Derba Midroc Cement, China National Building Materials & Construction
(CNBM) , Birr 600 million.
Air Field(runway) construction of Addis Ababa International Airport phase
I, Kajima J.V & Ethiopian Civil Aviation Authority, Birr 172,701,080.00
Nazareth Assela Road Upgrading Project, Sinohydro Corporation& ERA,
Birr 208,938,823.00
Chacha-Tarmaber Road Project, Sinohydro Corporation& ERA, Birr
649,101,655.13
Assosa-Sherkole Road Project, Sinohydro Corporation& ERA, Birr
236,031,528.00

NYALA INSURANCE S.C. Furi Service Center

Protection House Tell. +251-1-662-6667 P.O.Box: 12753
Mickey Leland Street Fax. +251-1-662-6706 Tell: 0113-805096/0960-367831
P.o.Box 12753 Fax: 0113-805079
Addis Ababa, Ethiopia email: yohannesh@nyalainsurancesc.com
 Magna-Gololcha-Mechara Road Project,CGC Overseas Construction Ltd.&
ERA, Birr 538,395,596.00
Electrification of Boarder towns, ETDE&EELPA., Birr 123,758,518.00
Harar Jijiga Road Project, Hunan Hunda Corporation & ERA, Birr
346,123,362.00
Dansha Humera Road Project, Hunan Hunda Corporation & ERA, Birr
346,179,223.00
Serdo Afdera haike Road Project, China Road& Bridge corporation & ERA,
Birr 446,040,951.00
Alamata Mehoni-Hewani Road Project, China Communication
Construction Com.& ERA, Birr 619,200,000.00
Electric Load Dispatch Centers, AREVA T&D and EELPA., Birr 261,289,206.10
Derba-Midroc Cement, China National Building Material & Equipment
Corp.and Midroc Cement PLC, Birr 3,041,475,511.00
Construction of Sub-stations, Siemens S.P.A and EELPA. Birr 101,086,584.00
and many more.
Besides the above listed examples the company has given protection to various projects
which are undertaken by local and international contractors and with the interest of
different private, public, and Government organizations.

a. Life and Health: - ITECH, UCSD, OSSREA, ARD, Ethio wet Lands, Addis Catering Plc,
Radisson Blue Hotel, NTO, DKT Ethiopia, Red Fox Ethiopia, ANNEKA, AKKAL,HOPE,
Glimmer of Hope, Norwegian Peoples Aid, Equatorial Business Group, and many
more.
b. Agro Industry: - Elfora Agro Industries Pvt. Ltd. Co, Amibara Agricultural
Development Plc, Middle Awash Agro Industry Plc, Omo Valley Agro Industry Plc,
Birale Agri-Development plc, Ethio-Coffee and Tea Plantation and Marketing PLC.
Ethio Agri-Ceft, etc
c. Transport: East West Ethio-Transport PLC, ABC Car Rental and many more.
d. Mining: Legedenbi Gold Mine and National Mining Corporation.
e. Aviation: Trans Nations Airways Plc, Suhura Airways
g. Horticulture: Sureya Blossoms PLC, Ethiopian Meadows Plc, Karaturi Flowers, Yassin
Legese Flower Farm, Margin Par Ethiopia PLC, Ethio Passion Agro Plc, TOP flower
PLC, Rainbow Flowers, Shiptack PLC, Jitu Horticuture , Saron Rose Agro Farm, AQ
Roses PLC, Herburg Roses Plc, Ziway Roses Plc & Greenspot Agro Farm.
h. CROP: Erer Farmers Union, Dedebit Credit & Saving Association & Various
cooperative around Southern and Northern Ethiopia.
NISCOs standard of service, responsiveness to customer issues as well as its claim settlement track
record can be checked from any of the above and/or others in your particular sphere of activities.

NYALA INSURANCE S.C. Furi Service Center

Protection House Tell. +251-1-662-6667 P.O.Box: 12753
Mickey Leland Street Fax. +251-1-662-6706 Tell: 0113-805096/0960-367831
P.o.Box 12753 Fax: 0113-805079
Addis Ababa, Ethiopia email: yohannesh@nyalainsurancesc.com
NISCO encourages potential customers to check us out from any one of the above clients who gave
us the first choose to serve.

6. Companys Performance during the last three years:

Year: 2006 EC Year: 2007 EC Year: 2008 EC

Item Descriptions In Birr In Birr In Birr
a. Current Assets - - -
Fixed Assets (Property, Plant
b. & Equipment - PPE) - - -
c. Total Assets [a + b] 654,700,000.00 830,970,091.00 980,756,063.00
d. Current Liabilities - - -
e. Long-term Liabilities - - -
Total Liabilities/debt
f. [d + e] 395,800,000.00 520,969,953.00 625,503,785.00

g. Equity [c - f] 258,900,000.00 310,000,138.00 355,252,278.00

Capital Employed and
h. Liabilities [f + g] 654,700,000.00 830,970,091.00 980,756,063.00

i. Net Sales (Revenue) 282,633,226.00 327,440,529.00 365,395,325.00

Total Expenses (Selling and
j. Administration) 204,839,883.00 225,813,535.00 208,031,090.00

k. Profit before Tax[i - j] 77,793,343.00 101,626,996.00 77,364,235.00

l. Profit tax 11,731,513.00 14,761,998.00 5,933,597.00
Profit after Tax (Net
m. Profit) [k - l] 66,061,830.00 86,864,996.00 71,430,638.00

NYALA INSURANCE S.C. Furi Service Center

Protection House Tell. +251-1-662-6667 P.O.Box: 12753
Mickey Leland Street Fax. +251-1-662-6706 Tell: 0113-805096/0960-367831
P.o.Box 12753 Fax: 0113-805079
Addis Ababa, Ethiopia email: yohannesh@nyalainsurancesc.com
 7. Claim Authority limit :

All our service centers both inside & outside Addis Ababa will entertain claim as per their grade level
i.e. Grade I up to IV with paying power of Birr 30,000.00 to 50,000.00 respectively subject to relaxation
upon written approval.

Last but not least, NISCO also takes pride to have its Reinsurance treaty placed with a world class
Reinsurance Company such as Swiss Re of Switzerland, Munich Re of Germany, and Africa Re.

Rating
S.N Name of Reinsurer Description A.M. Best/
Standard & Poors
1 Munich Reinsurance It is world number one A.M. Best A+
Company Ltd German origin Reinsurer
2 Swiss Reinsurance It is world number two A.M. Best A+
Company Ltd Switzerland origin Reinsurer
3 Africa Reinsurance It is owned by all African A.M. Best A-
Corporation countries including the Standard & Poors A-
government of Ethiopia
4 PTA Re/ZEP RE It is owned by COMESA A.M. Best B+
5 XL Catline Re UK Lloyd Reinsurer Standard & Poors A+

We would like to express our gratitude in advance for showing interest in our Company and we
assure you of our best service in line with our standing motto Your Protection is Guaranteed!

Sincerely yours,

Yohannes Hibstu
Manager, Furi Service Center

NYALA INSURANCE S.C. Furi Service Center

Protection House Tell. +251-1-662-6667 P.O.Box: 12753
Mickey Leland Street Fax. +251-1-662-6706 Tell: 0113-805096/0960-367831
P.o.Box 12753 Fax: 0113-805079
Addis Ababa, Ethiopia email: yohannesh@nyalainsurancesc.com