Ethiopian Insurance sets foot in Sudan

The state-run company Ethiopian Insurance, (EIC), is about to open a branch in Juba in southern Sudan, pending the final approval of the Sudanese authorities. EIC will be the second Ethiopian company operating in Sudan after Commercial Bank of Ethiopia. EIC is the most important Ethiopian insurance company. State-owned since its beginning in 1976, it reported a profit of 10.7 million USD for 2009 thanks to its 39 sales offices spread out nationwide.