The finance sector investment including insurance in general is characterized by high public interest. Companies are owned by a number of shareholders regardless of the size of the share by each holder. Citizens decide to relay their businesses with confidence that government can protect their interest. Having in place the legal and regulatory frameworks is crucial for the stability of the insurance industry and reinsurance market. The Ethiopian industry has existed long without it. Quantitative and qualitative data research and analysis reveal that awareness gap regarding reinsurance business circumstances persist on all management levels.