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EIC To Commence Branch Office In South Sudan

The Ethiopian commercial bank has already opened a branch in Juba

The state-owned Ethiopian Insurance Corporation (EIC), a provider of insurance services covering life, property and liability risks in Ethiopia, has stated that it will commence its first foreign branch office in south Sudan capital of Juba – reported Sudan Tribune.

As per the corporation, the final preparations of the opening of the branch are in progress. The Ethiopian commercial bank has already opened a branch in Juba.

After oil discovery in southern Sudan, the businesses have started to boom and the region is attracting a number of foreign firms.

This fiscal year, the insurance claims to EIC have risen by Birr31 million to Birr262 million. Despite the maximum amount of insurance claims filed, it has secured ETB637.2 million premiums.

The corporation has branch offices across all regional states of Ethiopia.