The National Insurance Commission (NIC) has bemoaned the practice where governments sign major contracts with foreign companies and allow the insurance component also to be repatriated out of the country. According to the commission, Ghana has lost millions of dollars through the practice over the years, depriving local insurance companies an opportunity to grow. Speaking … Read more
The National Insurance Commission (NIC) Taskforce has arrested the heads of two companies in the Greater Accra Metropolis for failing to insure their commercial property. The companies are the General Auto Zone Company and Ghana Heavy Duty Truck and Spare Parts and were detained at the Police Headquarters for the necessary action. They were among … Read more
The National Insurance Commission (NIC) Taskforce has arrested the heads of two companies in the Greater Accra Metropolis for failing to insure their commercial property. The companies are the General Auto Zone Company and Ghana Heavy Duty Truck and Spare Parts and were detained at the Police Headquarters for the necessary action. They were among … Read more
NATIONAL Insurance Commission (NIC) has appealed to the Ministry of Finance to help remove challenges that hinder insurance companies from insuring imported goods. According to the commission, the challenges are caused by difficulties posed by the Ghana Revenue Authority (GRA) in executing its duties at the ports. Speaking at a Dinner and Awards Night programme … Read more
The National Insurance Commission (NIC) has appealed to the Ministry of Finance to help remove challenges that hinder insurance companies from insuring imported goods. According to the commission the challenges are caused by difficulties posed by the Ghana Revenue Authority(GRA) in executing its duties at the ports. Speaking at a Dinner and Awards Night programme … Read more
As part of measures aimed at curbing the high unemployment level in the country, the Minister for Business Development, Mr. Ibrahim Mohammed Awal has assured that the ministry will equip the youth with the needed skills to help them set up their own businesses. According to him, the ministry will undertake the initiative through a … Read more
As part of measures aimed at curbing the high unemployment level in the country, the Minister for Business Development, Mr. Ibrahim Mohammed Awal has assured that the ministry will equip the youth with the needed skills to help them set up their own businesses. According to him, the ministry will undertake the initiative through a … Read more
As part of measures aimed at curbing the high unemployment level in the country, the Minister for Business Development, Mr. Ibrahim Mohammed Awal has assured that the ministry will equip the youth with the needed skills to help them set up their own businesses. According to him, the ministry will undertake the initiative through a … Read more
The Ghana Agricultural Insurance Pool (GAIP) is introducing a livestock insurance scheme to cushion farmers in the event of losses on their animals. With effect tomorrow the pilot stage of the programme is expected to be rolled-out to provide security for smallholder farmers. “In a bid to minimise the high risks associated with livestock farming … Read more
The general not-too-favourable perception about insurance seems to be taking longer to be minimised than expected. Many persons still feel aggrieved by the way motor insurance claims especially are handled by insurance companies especially where the insurance companies, through due diligence, also become a bit suspicious of some claimants. The upward adjustment in motor insurance … Read more
MANAGING Director of Activa International Insurance Company (Ghana) Limited, Mr. Solomon Lartey, has described the insurance penetration in the country as very challenging. This, he explained, was due to the fact that the market is very small but the competitors are many. Mr. Solomon Lartey’s appointment as the new MD of Activa International Insurance Company Limited … Read more
The Bank of Ghana (BOG) has inaugurated a Payments Systems Council (PSC) under its Payments Systems Department to help drive the development of efficient and safe electronic payment systems in Ghana’s financial sector. The nine-member council is an advisory body composed of stakeholders in the payments systems sector. It would provide information and advice to … Read more
Ms Lydia Lariba Bawa, Commissioner of Insurance says the National Insurance Commission (NIC) as part of its Risk Based Supervisory framework issues a risk based solvency and capital adequacy framework to improve the industry capitalisation. She explained that the framework, which was issued in December 2014 required insurance companies to meet new minimum capital requirements, … Read more
The newly sworn in President of the Ghana Insurers Association, Mrs Aretha Abena Abrafi Duku has observed that for the industry to register continued growth, it would require that various stakeholders collaborate their efforts. She said when industry players exhibited a strong front, it would help counter negative public perceptions about insurance in the country. … Read more
The National Insurance Commission (NIC) has disclosed to JOY BUSINESS that two insurance companies are on set to lose their license to operate by the end of this month. According to the Commission, the two have failed to demonstrate to the regulator they can meet the new minimum capital requirement within the next two weeks. … Read more
Wapic Insurance Company Limited has told Citi Business it has grown by over 40 percent in the first half of the year. Wapic Insurance was among the first companies to recapitalize ahead of the date set by the National Insurance Commission (NIC) for all insurance companies to recapitalize by a set date. Speaking to Citi … Read more
Lt. Gen. Joseph Henry Smith was born on the 9th of January, 1945 in Takoradi. He is married with five children. Education He attended Achimota School from 1959 to 1963 and successfully passed out with the West African School Certificate. He enlisted into the Ghana Military Academy as an Officer Cadet. He was commissioned 2/Lt … Read more