The Board Chairman of Serene Insurance Limited – a member of the First Sky Group, Charles Edem Gidi, has been inducted into the 2023 Corporate Hall of Fame at the sixth edition of the Ghana Corporate Executive Hall of Fame awards held in Accra.
The sixth edition was held on the theme ‘Guiding corporate Ghana through the economic challenges of 2023’.
The Corporate Ghana Hall of Fame is an avenue targetted at rallying corporate/institutional board chairpersons – and in some cases non-executive directors – as a public policy advocacy group and business strategy think-tank, while creating a business leadership networking platform and management capacity building vehicle to drive policy formulation for the sectors they operate in.
The prestigious award is in recognition of Mr. Gidi’s exemplary and visionary leadership in steering Serene Insurance Limited to become a strong household brand in the general insurance sector of the economy.
Sharing the honour with other captains of industry at the induction, a citation accompanying the induction with a plaque and medal noted that Mr. Gidi’s exceptional leadership, character, vision, integrity and focus to continuously provide direction and deliver projects impacted directly on positioning Serene Insurance Limited as the insurance company of choice in the country.
Commenting on the award, Board Chair of Serene Insurance, Mr. Gidi said: “I am humbled by this recognition, which is an indication that we are doing something worthy of note. It is therefore pleasing to know that the presence of Serene Insurance impacts positively on the overall agenda to deepen insurance penetration so as to boost business competitiveness in the country. There is more to be done in this regard, and I am more than motivated to continue pushing further to consolidate the brand of Serene Insurance”.
Since its inception in late 2018, Serene Insurance has built a privileged reputation as a provider of reliable and cost-effective insurance products and services which address needs of the insuring public, having been adjudged the fastest-growing insurance company in Ghana for 2022.
Serene Insurance has demonstrated strong growth in key financial metrics across its various business segments, as it recorded about GH¢43.3m in gross written premiums for the 2021 financial year – representing a 50 percent increase as against GH¢21.7m in 2020.
Serene Insurance is well capitalised with about GH¢59million and was the first insurance company in Ghana to officially announce full capitalisation in January 2021 – far above the limit set for new capital requirements by the regulator, the National Insurance Commission, for insurance firms.
From the outset with one branch, today Serene Insurance boasts nine branches with over 68 staff and a more than 40,000 institutional and retail client base, showing steady growth and penetration into the market in Ghana during a space of four years.
About Serene Insurance Company Limited
Serene Insurance as a member of the First Sky Group has First Sky Construction – one of the largest local construction firms in Ghana – and Volta Serene Hotel, the only luxury hotel in the Volta Region, as its primary shareholders. Having been incorporated in 2016, Serene Insurance was officially outdoored in September 2018 to bring innovation, speed and agility to the delivery of insurance products and services within the country – anchored on the belief of a satisfied client telling the good Serene Insurance story to others.
Serene Insurance’s existence is anchored on the following pillars: (a) to build a strong foundation of customer advocates; (b) the customer experience must drive our marketing efforts; (c) We believe in a satisfied client telling the good Serene Insurance story to others; (d) Prompt claim payment service will drive customer referrals.