October 11, 2022

Legal Update on Minimum Paid-up Capital for an Insurance Company Directives Number SIB/57/2022

Introduction On September 15, 2022, the National Bank of Ethiopia issued Directive No. SIB 57/2022  on Minimum Paid-up Capital for Insurance Company (the Directive)  which replaces Minimum Paid-up capital for Insurers Directive Number 34/2013.   Increased Minimum Paid-up Capital RequirementGeneral Insurance License A general insurance license now requires 400 million birr as the minimum paid-up...
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