Fairfax Financial To Buy Allied World For $4.9 Billion In Cash and Stock

Toronto-based insurance group Fairfax Financial Holdings Ltd (FFH. TO) has agreed to buy Swiss insurer Allied World Assurance Company Holdings AG (AWH.N) for $4.9 billion in cash and stock, the companies said on Sunday. Fairfax will pay owners of Allied World $54 per share – $10 in cash and $44 in Fairfax stock. The offer … Read more

SIC Insurance Pays GHC1.6m Dividend To Gov’t

SIC Insurance Company Limited has presented a cheque of GHC1,674,721.20 to Government of Ghana as a dividend for the year ending 2015. The amount represents 40% of total dividend payout to shareholders of the Company. Receiving the cheque on behalf of the government, Deputy Minister of Finance, Cassiel Ato Forson, congratulated SIC Insurance for the … Read more

Hackers Target European ATMs

Cyber criminals have remotely attacked cash machines in more than a dozen countries across Europe this year using malicious software that forces machines to spit out cash, according to Russian cyber security firm Group IB. Diebold Nixdorf and NCR Corp, two of the world’s biggest ATM makers, said they were aware of the attacks and … Read more

SIC Insurance MD Bows Out After Over 30 Years

The Managing Director of SIC Insurance Company Limited, Mr Kwei Mensah Ashidam, has commenced his terminal leave prior to retirement effective November 1, 2016, after over 30 years of service to the company. Mr Ashidam joined SIC, one of Ghana’s leading General insurers, in 1983, working in various departments before becoming the Managing Director. He … Read more

Mahama Will Win 52.3%

“President John Mahama has already won the elections. He commands excellent good will among majority of Ghanaians because of the appreciation his visionary leadership which has been translated into the massive development projects across the country.” These were the words of former Ashanti regional Minister, Daniel Ohene Agyekum when he addressed scores of people including … Read more

Trump Deserves Everybody’s Respect

Warren Buffett was a vocal backer of Hillary Clinton. She’s not going to be the next president. So what does the Berkshire Hathaway CEO think of President-elect Donald Trump? “I support any president of the United States. It’s very important that the American people coalesce behind the president,” Buffett told CNN’s Poppy Harlow in an … Read more

Growing Food the Sustainable Smart Way To Beat Climate Change

World Food Day 2016 has the global message: “Climate is changing. Food and agriculture must too.” This echoes weather-related disasters hitting vulnerable farmers, fishers and pastoralists in Africa. According to the Food and Agriculture Organization (FAO) of the United Nations, growing food in a sustainable way means adopting practices that produce more with less in … Read more

Minister Push For Brown Card Recognition In Francophone Countries

The Deputy Minister of Foreign Affairs and Regional Integration, Mr. Emmanuel Bombande has called on the Council of Bureaux of the ECOWAS Brown Card to address issues of Ecowas Brown Card issued by Ghanaian Insurance companies not respected in some member francophone countries when produced as evidence of Motor Vehicle Third Party Insurance cover. Mr. … Read more

NIC Committed To Improve Industry Capitalisation

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

Power Minister, Dr Kwabena Donkor Defends 100% Tariff Increment

The Minister of Power, Dr Kwabena Donkor has justified the need to increase electricity tariffs. According to him, Ghana was shifting from cheaper means of generating power, hence the need to pay a cost reflective tariff to cover the cost of generation as well as expand the capacities of the systems in place to guarantee … Read more