National Bank of Ethiopia expands regulatory oversight across insurance sector
New directive extends supervision beyond shareholders to agents and intermediaries
Insurance agents now subject to stricter licensing, reporting, and compliance requirements
Insurers required to ensure accountability across entire distribution chain
Directive strengthens enforcement on misconduct and regulatory breaches
Reform aims to improve transparency, governance, and consumer protection
Applies to all insurance companies operating in Ethiopia
Why it matters?
The directive increases compliance costs and operational control requirements for insurers, while tightening oversight of distribution networks and improving market discipline.