A common insurance market in West Africa will lead to important prospects as well as bring about cost savings, among other benefits to the population, according to Mr Mamadi Dampha, deputy permanent secretary at the Ministry of Finance and Economic Affairs.
The National Insurance Commission (NIC) has reiterated that it is working to improve access to insurance products and services to promote financial inclusion.
The Ghana Private Road Transport Union (GPRTU) has appealed to the National Insurance Commission (NIC) to reconsider the 'No premium, no cover' insurance policy to enable some of its members to buy comprehensive motor insurance.
Approximately nine out of every 10 employed individuals polled in a survey lack life insurance coverage, according to the findings of the 2023 Old Mutual Financial Services Monitor.
Mr Seth Kobla Aklasi, who is chairman and CEO of Donewell Insurance, has said that during his new term as president of the Ghana Insurers Association (GIA), he intends to address key issues that the industry faces.
Macroeconomic developments continue to be the topmost risk for Ghana in 2024, as was the case in 2023, according to Allianz Commercial, which is Allianz Group's corporate insurer.
The Ghanaian Parliament has passed the Value Added Tax (VAT) Amendment Bill that will impose a 21.9% VAT on all non-life insurance products.
The National Insurance Commission (NIC) has taken steps to tackle the growing trend of underwriting losses recorded by insurers in recent years.
The regulator of Ghana's insurance industry, the National Insurance Commission (NIC), has released the findings of its Public Perception, Awareness and Confidence of Insurance Survey (PPAC) for 2022.
Ghana Reinsurance's operating performance is assessed as adequate, reflecting the company's modest overall profitability on an inflation-adjusted basis and volatile underwriting performance, as demonstrated by a five-year (2018-2022) return-on-equity ratio of 11% and weighted average combined ratio of 102.1%, notes AM Best.