Ethiopian Insurance Corporation (EIC) was established in 1976 by proclamation No.68/1975. The Corporation came into existence by taking over all the assets and liabilities of the thirteen nationalized private insurance companies, with Birr 11 million (USD 1.29 million) paid up capital aiming the following objectives.EIC is administered by the Board of Management, which reports to Public Financial Enterprises Agency, which is accountable to the Prime Minister's Office.The top management team comprises the Managing Director, four Deputy Managing Directors, one Division and three service Managers.The operations function is supported by a technical service manager and a network of six main branches, twenty nine local branches and five contact offices.