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2025-04-30T16:41:20Z

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==Procedure==
'''Apply In-Person:''' 
#To Obtain Insurance Agent License, the applicant has to approach National Bank of Ethiopia [https://nbebank.com/contact-us/ contact link]
#Applicant has to get the form from the respective officer.
#Applicant has to fill-in all the necessary details in the application form.
#Make sure that the applicant has to attach the documents mentioned in the “Required Documents” section of this page.
#Applicant has to attach the photocopies along with the application form.
#Submit the completed form and the necessary documents to the officer.
#The applicant has to pay the Investigation fee of Birr 300 and Licensing fee of Birr 250.
#The authority officer will review the application and process the application.
#Once the process is completed, the license is given to the applicant within the stipulated processing period of time.
 
'''Note:'''
*An applicant intending to carry on business as an insurance sales agent must have attended a mandatory pre-licensing insurance sales agency training, offered by institutes acceptable to the Bank, in the main line of business that he/she is applying for license.
*A licensed insurance agent shall attend at least 30 hours of refreshment course every five years, focusing on insurance products covering, but not limited to, subjects such as motor, property, workmen’s compensation, life and permanent health assurance; sufficient to deliver technical information essential for maintaining a level of expertise that will continue to benefit insurance consumers.
 
 
==Required Documents==
*A duly completed application form
*The name and occupation (including date and address of previous employment) of the applicant.
*Two passport size recent photographs of the applicant or the chief executive officer
*Curriculum Vitae of the applicant or the chief executive officer
 
 
==Office Locations & Contacts==
'''National Bank of Ethiopia''' 
P.O Box: 5550 
Tel: +251 115 517 430 
E-mail: nbeinfo@nbe.gov.et 
Fax: +251 115 514 588 
Contact details [https://nbebank.com/contact-us/ link] 
Location details [https://www.google.com/maps/place/National+Bank+of+Ethiopia/@9.017326,38.751141,17z/data=!4m5!3m4!1s0x0:0x3e8d5c6bcdfdf02c!8m2!3d9.0172!4d38.7504908?hl=en link] 
 
==Eligibility==
'''If the applicant is a natural person, the person:''' 
*Shall be an Ethiopian national
*Shall at least have completed general secondary school level of education or equivalent
*Shall attend compulsory insurance sales agency training as stated under article 5 of these directives; or must have, at least, five years of experience obtained through working in the underwriting and/or claims department of an insurance company;
*Has not been convicted by court of law in any country, for an offense involving dishonesty.
 
'''If the applicant is a juridical person:'''
*It shall be formed in accordance with the requirements of the provisions of the Commercial Code of Ethiopia and that of Proclamation No. 86/1994
*It shall be fully owned by Ethiopian nationals
*It shall have its head office in Ethiopia
*The chief executive officer of the agency should at least meet the education, training and/or experience and other requirements
*The owners and the chief executive officer have not been convicted by court of law in any country, for an offense involving dishonesty.
 
'''If an application is made to carry on business:'''
*As a general insurance agent or as a long-term insurance agent, the applicant shall deposit Birr20,000 (Birr twenty thousand) with the Bank, or shall maintain a professional indemnity insurance cover of Birr20,000 (Birr twenty thousand); or
*As both general and long-term insurance agent, the applicant shall deposit with the Bank Birr40,000 (Birr forty thousand), or a professional indemnity insurance cover of Birr20,000 (Birr twenty thousand), in respect of each main line of insurance agency business he/she is applying for.
 
 
==Fees==
*A person applying for a license to carry on business as an insurance agent shall pay an initial investigation fee of Birr300 (Birr three hundred).
*A person applying for a license to carry on business as an insurance agent shall pay an initial license and subsequent renewal fee of Birr250 (Birr two hundred fifty).
 
 
==Validity==
*Validity of the license is for 1 year.
 
 
==Documents to Use==
Guidelines [https://nbebank.com/wp-content/uploads/pdf/directives/insurancebusiness/30.pdf link] 
 
==Sample Documents==
Please attach sample completed documents that would help other people.
 
 
==Processing Time==
*Processing time of this procedure takes up to 30 days.
 
 
==Related Videos==
Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external
websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.
 
 
==Instructions==
*Applicant must complete the application form before submitting. Incomplete applications will not be accepted.
*Applicant must provide genuine information while applying for this procedure.
 
 
==Required Information==
*Name
*Address
*Contact number
*Email
*Gender
*Age
 
 
==Need for the Document==
*“Insurance Agent” or “Agent” shall mean a person licensed by the Bank as an insurance agent who, acting for and on behalf of one or more insurers, engages in: (a) soliciting or procuring insurance business; (b) work preparatory to the conclusion of, or in concluding of insurance; and (c) activities relating to the continuance, renewal or revival of contracts of insurance or in assisting in the administration and performance of such contracts.
 
 
==Information which might help==
Enter other information which might help. 
 
==Other uses of the Document/Certificate==
Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.
 
 
==External Links==
Place some other external links 
 
==Others==
More information which might help people.
 

[[Category:Ethiopia]]

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