Yared Mola Appointed New President of the African Insurance Organization
For the first time in the African insurance sector, Yared Mola, CEO of Nyala Insurance S.C. and President of the Ethiopian Insurance Association, has been officially elected as the new President of the African Insurance Organization (AIO). This leadership change was publicly announced during the closing ceremony of the 51st AIO Conference and General Assembly held on May 28, 2025, in Addis Ababa, Ethiopia.
This appointment marks a significant milestone both for the distinguished career of Yared Mola and for Ethiopia’s expanding influence within the African insurance market.
AIO Leadership Change: Yared Mola Ushers in a New Era
He succeeds Patty Karuaihe-Martin, CEO of NamibRe and outgoing AIO President, who focused her tenure on strengthening reinsurance capacity and encouraging innovation across African markets.
With the leadership baton now in his hands, there are high expectations that he will continue driving progress with a fresh vision and increased regional engagement.
Who is Yared Mola? A Proven Leader in African Insurance
Yared Mola brings a wealth of experience and a proven leadership record as he steps into the AIO presidency. Since 2013, he has led Nyala Insurance, one of Ethiopia’s first private insurance companies, transforming it into a resilient and innovative regional player.
In addition to his corporate responsibilities, Mola is the current President of the Ethiopian Insurance Association, representing both national and continental insurance interests.
Yared Mola’s Academic and Professional Background
Mola’s qualifications complement his industry experience. He holds degrees from prestigious institutions:
University of Greenwich (UK)
Paris School of Business (France)
Addis Ababa University (Ethiopia)
With over 30 years of experience in insurance and a strong academic foundation in finance and business, Mola is uniquely positioned to lead a continental organization like the AIO. His strategic insight is key to helping African insurers navigate globalization, regulatory changes, and digital disruption.
Yared Mola’s Vision for the African Insurance Organization
As AIO President, Mola is expected to prioritize several critical initiatives:
Increasing Insurance Penetration: Addressing the significant underinsurance across African markets by promoting awareness, accessibility, and affordability of insurance products.
Promoting Digitalization and Innovation: Leveraging his success at Nyala Insurance, where digital platforms and customer-focused products have flourished, to drive continent-wide digital transformation.
Enhancing Collaboration: Using his broad network, Mola aims to strengthen partnerships between insurers, reinsurers, and associations to tackle common challenges such as climate risk and regulatory complexity.
Fostering Capacity Building and Talent Development: Continuing his focus on human capital as seen in his leadership at the Ethiopian Insurance Association, nurturing skilled professionals for Africa’s evolving insurance industry.
Ethiopia’s Rising Role on the Continental Stage Under Yared Mola
The 51st AIO Conference hosted in Addis Ababa also spotlighted Ethiopia’s growing prominence within the African insurance fraternity. The election of Mola as AIO President symbolizes Ethiopia’s increased contribution to continental policymaking and industry best practices.
By appointing an Ethiopian CEO to lead the AIO, the organization acknowledges the maturity and potential of Eastern Africa’s insurance markets.
African Insurance Organization: Uniting Industry Leaders Under Yared Mola
Founded in 1972, the African Insurance Organization is a non-governmental body dedicated to fostering a healthy and dynamic insurance industry across Africa. Headquartered in Douala, Cameroon, the AIO promotes collaboration between insurers and reinsurers and serves as a key platform for advocacy, training, and regional integration.
The AIO’s annual conference remains a premier event, attracting stakeholders from over 40 member countries to discuss emerging risks, market growth, and regulatory alignment—all areas where Yared Mola’s leadership will be pivotal.
Future Outlook: Yared Mola Leading African Insurance into a New Era
With his blend of local expertise and global perspective, Yared Mola is set to lead the AIO into a promising future. His tenure will likely introduce policies and programs that elevate African insurers’ visibility and reinforce the sector’s resilience and inclusiveness.
As the continent’s insurance industry evolves amid economic shifts, climate challenges, and digital transformation, Yared Mola’s presidency promises impactful, cooperative, and visionary leadership.
Conclusion: Yared Mola’s Presidency Poised to Shape African Insurance
The appointment of Yared Mola as President of the African Insurance Organization represents a forward-thinking moment for African insurance governance. With his proven leadership, academic excellence, and collaborative vision, Mola is poised to fuel growth and innovation across the continent’s insurance markets.
Under his guidance, the AIO will remain central to shaping the future of African insurance, fostering a more dynamic, inclusive, and resilient industry for years to come.
