Central Bank Approves Industry Veteran to Lead Standard Insurance

Oct 5 , 2025

The National Bank of Ethiopia (NBE) has appointed Solomon Assefa as the founding CEO of Standard Insurance S.C. A veteran with over 20 years in the insurance sector, Solomon holds an Executive MBA from Addis Abeba University, a BA in Business Administration from the University of Gondar, and a diploma in Accounting from Bahir Dar University. He has also completed specialised courses in insurance, strategy, leadership, and capital markets. Solomon praised the vision and dedication of the Forming Committee and Project Team for bringing the insurer to life. “This is more than a career milestone; it’s the start of an important journey,” he said. Backed by 1,747 shareholders and 135.6 million Br in paid-up capital, Standard Insurance plans to expand its capital to 900 million Br by 2027/28. The firm was established by Awach Savings & Credit Cooperative.