Nib Insurance partners with its sister company, Nib Bank, to launch premium financing scheme designed to owners of vehicles that provide public transport services.
The new scheme allows code 1 and code 3 public transport services providers to buy motor and life insurance policies for a premium payment of less than 30 Birr a day with a loan secured from Nib Bank.
Gasha Plc will serve as an agent to bring customers for the newly launched service, which ie expected to benefit over 10,000 owners of vehicles with a license to provide public transport services.
The new policy is available at 45 full-fledged and five satellite branches of Nib Insurance, which is among capitalised private insurers in Ethiopia with a paid-up capital of almost half a billion Br.
Established two decades ago, the assets of Nib Insurance now valued at 1.9 billion Br. The firm is also among influential shareholders of Nib Bank, which is among profitable private banks in the country.
