Insurance head rallies members to join Africa body, merge companies

Ghanaian insurance entities have been urged to merge to strengthen the industry. The call made by Mrs Lena Adu-Kofi, President of Ghana Insurance Broker’s Association was made at the body’s 30th anniversary celebration, dinner, dance and awards night.

She urged smaller insurance companies to merge with bigger ones to pull their resources together and offer competitive service.

Mrs Lena Adu-Kofi

30 Years of Insurance Broking in Ghana, Achievements and Challenges,” was the theme for the night.

According to Mrs Adu-Kofi, the Association had seen a membership swelling thanks to its professionalism and public education adding the association was working to secure its own office complex, television and radio station.

On African Insurance Organisation; the insurance body leadership submitted there were benefits members stand to gain through affiliations.

On the night; Ghana Reinsurance Company Limited, GN Reinsurance Company Limited and WAICA Reinsurance Corporation emerged the three brokers.

KEK Insurance Broker’s Limited, KEK Reinsurance Brokers Limited, Edward Mensah-Wood and Associates Limited, Willis Tower Watson Ghana Limited and Safety Insurance Brokers Limited were adjudged top brokers while SIC Insurance Company Limited, Enterprise Insurance Company Limited and Star Assurance Company Limited emerged the top three non- life insurers.

For life insurers; Enterprise Life Assurance Company Limited, SIC Life Insurance Company Limited and Starlife Assurance Company Limited were the notables.

Michael Eli Dokosi/goldstreetbusiness.com