The CEO/Managing Director of ACTIVA International Insurance Company (Gh) Limited, Mr. Solomon Lartey, has been adjudged Best General Insurance CEO of the Year, 2019.
The award was conferred on him at the 2019 Ghana Insurance Awards ceremony held in Accra on Friday.
In a citation read for the award, the technical committee and awarding board noted that Mr. Lartey has steered the affairs of Activa International Insurance diligently and consistently grown the company’s Gross Premium by 20% in 2018 – at a time when the entire industry grew by 3.4%, making it the 7th-largest insurance company on the market out of 29 non-life companies. The company’s Gross Premium Grew by 35% in 2017. They added that the year under review also saw Activa grow its profit by 47%, from GH¢4.8million in 2017 to GH¢7.1million in 2018.
Commenting on the award, Mr. Solomon Lartey said it has come at a time when insurance companies are fraught with challenges; notably low insurance penetration, and also commencement of a new Minimum Capital Requirement regime in the industry.
He said despite the fierce competition in the Ghanaian insurance industry with 54 companies and more than 80 broking firms, not much has been seen on the side of insurance penetration – adding that the time has come for insurance companies to innovate or face extinction.
In 2018, Mr. Lartey was adjudged Insurance CEO of the Year at the 8th Ghana Entrepreneurs and Corporate Executive Awards, which was organised by the Entrepreneurs Foundation of Ghana.
Activa International Insurance is rated in the A category by Messrs. Global Credit Rating (GCR), and was adjudged Insurance Company of the Year by the Chartered Institute of Marketing Ghana (CIMG) at its 2018 awards ceremony in Accra. Activa Provides world-class insurance services in over 48 out of the 54 African countries through its Globus Network. The company is the foremost insurer of Corporate Ghana and the preferred partner and representative of some of the world’s largest and best insurance groups, like Chubb, Zurich, IF and many other respectable global insurance groups and organisations.
The Ghana Insurance Awards were organised on the theme ‘Stewardship, Standards, Product Innovations, ICT and Corporate social responsibility’, and held under the special guest of honour, Hon. Daniel Nii Kwartei Titus Glover – Deputy Minister of Transport.
In his address, Hon. Titus Glover asked insurance companies to increase claims payments in respect of property damage. He also revealed that, very soon, all public buses will have a manifest system that records names and contact numbers of passengers; so that in case of accidents, families can be reached for insurance claims and support.
The ceremony, which was attended by captains of the insurance industry, saw Mr. Daniel Kwaku Afriyie, a fellow of the West African Insurance Institute in Ghana and the Gambia, receiving the Life Time Achievement award.
Other recipients included Ms. Aretha Duku, Insurance Personality of the Year; Mrs. Elizabeth Wyns Dogbe, Life Insurance CEO of the year; and Nancy Ampah of Nationwide Medical Insurance, Private Health Insurance CEO of the year. The Young Achiever of the year award went to Achumile Majija, while Daniel Gyasi Nyarko received the Unsung Hero Award. In all, 40 awards were bestowed on Insurance companies and personalities who had distinguished themselves in the year under review.