The Ghana Revenue Authority (GRA) and National Insurance Commission (NIC) will from next year roll-out a system that ensures importers are paying fair insurance on their goods brought into the country; thereby ending the age-old flat rate system which sometimes slaps higher charges on them.
Currently, importers are charged a...
Unique Insurance Company, one of the pioneer insurance companies in the country, has met the regulator’s new minimum capital requirement which has its deadline set at the end of 2021.
The company’s ability to raise the money came from a smart move from its major shareholder, the Ghana National Association...
The West African Reinsurance Corporation (WAICA Re) has announced that its underwriting profit grew from US$5.0million in 2019 to US$8.8million in 2020, a growth rate of 77 percent
The company at its 8th Annual General Meeting (AGM), held virtually at the weekend, recorded a net claims of US$30.5million in its...
Dr. Aaron Issa Anafure, Managing Director-Quality Life Assurance Company (QLAC), has authored a comprehensive book in life insurance titled ‘Practice of Life Assurance in Perspective’.
It was launched at the auditorium of the National Insurance Commission. The launch was attended by the crème de la crème of political big-wigs,...
The National Insurance Commission has presented an additional cheque for GH¢300,000 to the Ghana National Fire Service to complete an ongoing three-story forensic laboratory in Accra; this amounts to a total GH¢800,000 for construction of the laboratory building which will cost an estimated GH¢3.7million.
The laboratory unit when completed will...
AM Best has affirmed the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Rating of ‘bbb-’ (Good) for WAICA Reinsurance Corporation PLC (WAICA Re) (Sierra Leone). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect WAICA Re’s balance sheet strength - which AM...
The Chief Executive Officer of Allianz Insurance, Darlington Munhuwani, has called on African innovators aiming to provide insurance services to focus more digital distribution on the continent to increase penetration and growth.
“You are contributing to the development of insurtech solutions that will not only make a difference to the...
The Managing Director of Vanguard Life, George Kojo Addison, has stated that, among the factors contributing to the poor patronage of insurance in the country, mistrust and the challenging economic environment are the two key factors.
He made these remarks when responding to questions on why the growth rate of...
First Insurance Company Limited, a life insurance underwriter, has paid an amount of GH¢204,000, 40 percent on a GH¢510,000 sum assured, in claims to a single policyholder.
The claimant who applied for a critical illness claim earlier this year, has been with the company since October 2019. However, after developing...
As part of the International Insurance Awareness Day commemoration, Ghana’s Insurance Commissioner Dr. Justice Ofori has appealed for all road users and motorists to be more disciplined.
Speaking at the launch in Ghana, hosted through a webinar presentation, the Commissioner advised motorists and pedestrians that: “Life has a way of...
