Ghana and Togo has agreed to settle a total of CFA 36,187,985 arising from claims incurred between the two countries under the ECOWAS Brown Card Insurance transaction. B&FT learnt that, in all, Togo had 65 claims against the Ghana market, while Ghana had 43 cases against the Togo market. A breakdown of these claims shows [...]
Read the rest of this story »MTN Group has partnered with Hollard Insurance to pilot mi-Life, a Mobile Money life insurance service, in Ghana. Through this partnership, the companies hope to dramatically reduce the cost of insurance . MTN said yesterday that MTN Mobile Money customers would be able to buy life insurance via their handsets. Customers would be able to [...]
Read the rest of this story »by: Michael Boateng Phoenix Life Insurance Company of Ghana has presented a cheque of Three Thousand six hundred Ghana Cedis (GH ¢3,600) to the beneficiaries of a deceased client, the late Selina Oppong, a newly trained tutor of the Abofour Kyebi M/A JHS in the Offinso North District of Ashanti region. Out of the claim, [...]
Read the rest of this story »The ability to sell such policies on the secondary market, through a transaction known as a life settlement, provides an alternative to simply letting the policy lapse after many years and thousands of dollars of premium payments. But for many people, there are better alternatives. “In reality, it is likely that some 95 percent of [...]
Read the rest of this story »An Accra Fast Track High Court (Commercial Division), on Thursday ruled that the new board of Donewell Insurance should remain in office and allow the shareholding structure to be functional. The court presided over by Ms Justice Barbara Ackah-Yensu, advised members of the Board not to take any decisions regarding the shareholding. Ms Ackah-Yensu also [...]
Read the rest of this story »The Ministry of Food and Agriculture (MoFA) is currently working with stakeholders to secure insurance for farmers against the vagaries of the weather and other risks. The move is part of measures to boost the country’s food security. The Director of Planning at the MoFA, Mr Ram Ebo Bhavnani, stated this in Accra yesterday at [...]
Read the rest of this story »A rating company, A.M. Best Europe has revised the outlook for Ghana Reinsurance Company Limited (Ghana Re) to negative from stable and affirmed the financial strength rating (FSR) of B (Fair) and issuer credit rating (ICR) of “bb+” .
Read the rest of this story »By Moses Mozart Dzawu – Bloomberg SIC Insurance Co. of Ghana said nine- month net income rose to 5.22 million cedis from 4.5 million cedis a year earlier. Net premiums collected in the period increased to 32.15 million cedis compared with 29.55 million cedis a year earlier, the Accra-based company said in a statement on [...]
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