By Elliot WILLIAMS
In line with Ghana Reinsurance Company PLC’s commitment to build the capacity through technical support for its cedants (the insurance and reinsurance brokers that give it business) the company is organising this year’s edition of its annual Life Training on the topic: Annuities Management – The Principles and Practices.
The six-day training programme will take place at the Volta Serene Hotel, Ho from Sunday June 22 to Friday, June 27, 2025.
This year’s Life Training by Ghana Re aims to give technical support to 45 participating life insurance practitioners, actuaries and product designers, who have been drawn from 15 life insurance companies, a reinsurance company, a reinsurance brokerage and the National Insurance Commission which is the industry regulator.
The topic has been selected because annuities is a fairly new class of life insurance in Ghana’s jurisdiction, but one which holds tremendous potential for retirement planning and is a veritable investment tool.
An insurance annuity is a written contract typically between a client and a life insurance company in which the insurance company makes a series of regularly spaced payments to the client in return for a lump sum premium or regular premium payments paid by the client.
While a life insurance policy protects the client’s family’s financial well- being in case he or she passes away, annuities help protect the customer’s own well- being by providing a pension –like stream of income that one can use during one’s retirement.
The objective of this year’s Life Training is to give cedants the opportunity to engage openly and practically on the principles and practices of annuities and explore strategies to unlock the potentials of this product class.
The training will be conducted by William Stanley Owusu and Isaac Kweku Gyasi, both of them senior professionals with Ghana Re.
The list of invited companies is as follows: Glico Life Insurance; First Insurance Company: SanlamAllianz Life Insurance; Vanguard Life Assurance; Star Life Assurance; SIC Life Company; Quality Life Assurance; Prudential Life Assurance; Old Mutual Life Assurance; Metropolitan Life Insurance; Impact Life Insurance; Hollard Life; Enterprise Life Assurance; Pinnacle Life; GN Life; KEK Reinsurance Brokers; and Mainstream Reinsurance.
The National Insurance Commission has also been invited to participate as the industry regulator.
