The Ghana Reinsurance Company has paid a dividend of 9 million cedis to the government of Ghana.
The payment represents a 50% increase over year 2016 dividend payment to government.
The payment comes at a time when the Minister for Lands and Natural Resources has called on companies to ensure they pay dividend to government to aid in the development of the country.
The minister had complained that no company paid dividend to government in 2016 and was thus elated to see companies rather bringing their dividend whole heartedly.
The Board Chairman of Ghana Reinsurance, George Otoo noted that the board is committed to ensuring sustained growth and profitability to enable Ghana Re to continue to contribute to the country’s development.
This information was revealed during the annual General Meeting of the Ghana Reinsurance Company.
The company recorded a profit after tax of 34.03 million cedis whilst profit before tax was 49.43 million cedis.
The Group’s composite gross premium income for 2017 was 193.01 million cedis, whereas the general business premium income recorded for the year was 181.70 million cedis.
Ghana Reinsurance also hinted of plans to continue its strategy of expansion of the company’s operations in domestic and international markets.
Its office in Kenya obtained a licence to operate as a fully- fledged subsidiary company.
It also continues to maintain an office in Cameroon to strengthen its foothold in Francophone Africa.
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana