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Financial sector regulators must collaborate …to bring down interest rates,...

Senior Minister Yaw Osafo Maafo has called for increased collaboration between the Bank of Ghana (BoG), National Insurance Commission (NIC), National Pensions Regulatory Authority...

NIC approves US$10million for repatriation annually

The National Insurance Commission (NIC) says they are alarmed at the amounts of money repatriated as reinsurance premiums annually. According to the regulator, each year,...

Minimum capital for insurers to go up before end of year...

The current GH₵15million minimum stated capital for insurance companies will see a ‘significant’ increase before end of December 2018, the National Insurance Commission (NIC)...

10 top insurance brokers contributed 67% of total income

Latest National Insurance Commission (NIC) financial report released recently, have shown that the insurance brokerage business earned a total of GH¢89.8m in 2017. A...

Bancassurance Relationship   – How enforceable are the guidelines?

Banking here! Insurance there! The two come together to give birth to 'Bancassurance'. Thus, Bancassurance is an arrangement between a bank and an insurance...

General Insurers paid over GH¢500m in claims

The National Insurance Commission (NIC), regulator of the insurance practice in the country, has disclosed that claims incurred for 2017 accounting year was in...

Motor insurance premium contributes highest to market premium

Motor insurance portfolio has continued to dominate the contributions to the total premium income of general business underwriters over the years. Figures sighted by B...

NIC advises drivers against unlicensed insurance operators

National Insurance Commission (NIC), has issued a word of advice to drivers to desist from doing business with unlicensed insurance agents who sell insurance...

Insurance industry to publish claims paid on annual basis

The insurance industry intends to start publishing claims paid to clients, on an annual basis, in a bid to change the perception among members...

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