The National Insurance Commission (NIC) is exploring technology and artificial intelligence as important areas to make the insurance sector more innovative and responsive, according to Acting Commissioner, Dr Abiba Zakariah.
The National Insurance Commission (NAICOM) of Nigeria and Ghana's National Insurance Commission (NIC) have strengthened their partnership to reinforce the role of the industry in sustainable regional economic growth.
The government is positioning Ghana to become an insurance hub in the subregion to strengthen financial stability, according to Minister for Finance Dr Cassiel Ato Forson. He also said that a 10-year master plan would be unveiled to enhance a sustainable insurance sector.
The National Insurance Commission is holding discussions with the Bank of Ghana and the 24-Hour Economy Authority to develop a credit insurance guarantee scheme for small and medium-sized enterprises (SMEs).
Local insurance companies have the capacity to provide risk cover for marine/aviation cargo to safeguard import trade in the long term, according to the second Vice-President of the Ghana Insurers Association (GIA), Mrs Mercy Naa Koshie Boampong.
Ghana Reinsurance's (Ghana Re) adequate operating performance assessment reflects its track record of modest profitability on an inflation-adjusted basis, with the company reporting a return on equity ratio of at least 9% in each of the five years between 2021 and 2024, notes AM Best.
Ghana is moving from reactive disaster response to planned, predictable, and people-centred climate resilience, with the recent release of a sub-sovereign flood risk insurance product for the Greater Accra Metropolitan Area (GAMA).
Motor insurance products can only be purchased with a valid Ghana card from 1 January 2026.
The Ghanaian government has announced plans to list a portion of state-owned Ghana Reinsurance (Ghana Re) on the Ghana Stock Exchange (GSE) as part of efforts to strengthen the state-owned reinsurance firm's capital base and attract private investment.
StarHealth Insurance Company, a subsidiary of Star Assurance Group, has officially launched operations in Ghana after three years of groundwork.