There are many insurance companies in Ghana. These are the top five per their reach, services and achievements.
Insurance companies in Ghana || Top Five
SIC Life recently won the CIMG award for Insurance Company of the year -Life Insurance Category on 22nd September 2017 at the Banquet Hall, State House. SIC Life has exhibited a good understanding of the market with the introduction of the Guaranteed Endowment Plan which contributed ie. (12.1%) in new business and posting a total turnover of GH¢212,960,892.00 in the period under review.
Hollard Insurance Ghana is an authorised General Insurance Provider which commenced in Ghana in as Madison Insurance in 1993, they were recapitalised and renamed Metropolitan Insurance Company Limited (MET) in 1997.In 2006, they took the decision to move their focus away from life insurance to other personal and commercial insurance products. In 2015, the Hollard Group acquired a majority shareholding in the company. .
Enterprise Insurance Company Limited is the oldest insurance company in Ghana having been in operation since 1924. It takes its roots from the Royal Exchange Assurance Corporation of the United Kingdom, which commenced business in the Gold Coast in 1924, then became Guardian Royal Exchange Assurance Ghana Limited, (GREG) and subsequently, Enterprise Insurance Company Limited.
They cover Fire, Marine, Motor and General Accident.In 1990 it became one of the first companies to be listed on the Ghana Stock Exchange.
Vanguard Assurance Company Limited began operations in October 1974 offering only two classes of business – Life and Fire. Currently, Vanguard Assurance is a subsidiary of the Vanguard Group underwriting only non-life insurances.
Ghana Life Insurance
Ghana Life Insurance Company was established in February 1980 as a specialist life insurance company. They currently offer a Master Plan Policy that guarantees the extra security of life insurance, Children Welfare Plan, Funeral and Group policy.