The United Insurance Company SC, better known as, <UNIC-ETHIOPIA>  was established by 87 Ethiopians (individuals and enterprises) in November 1994 with an authorized capital of Br 25 million and an initial paid up capital of Br 8.073 million. Following the merger with Lion Insurance Company SC in 2002, , is currently owned by more than 484 shareholders. As a result of the merger and the decision of the Seventh Extra-Ordinary General Meeting of shareholders, the Company’s authorized capital rose to Br 250 million. The paid up Capital is now Br 245 million. Further, on the 11^th extra-Ordinary meeting of shareholders in November 2018, a resolution is passed to increase the subscribed Capital to Br. 500 million. Currently the paid up capital of the company is Br. 436,228,000.

<UNIC-ETHIOPIA> aims to be the best insurance company in Ethiopia, most professional, most commercial, and most responsible by Providing complete insurance cover at economic rates, honest, prompt, and courteous claims services, to fully satisfy all its constituencies: Customers, Shareholders, Employees, Society and the Environment.