Tag: Insurance penetration
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MTN’s aYo insurance covers over 8 million Ghanaians in 5 years
aYo Intermediaries Ghana (aYo Insurance), the mobile-based microinsurance wing of MTN Ghana has provided insurance cover for at least eight million Ghanaians to date, representing about 25 per cent of the country’s population. CEO of aYo Ghana, Francis Gota who disclosed this at the company’s thanksgiving service to celebrate what he called “five remarkable years…
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Insurance companies want exemption from debt exchange programme
The Ghana Insurers Association has called for the exemption of insurance companies from the domestic debt exchange program. According to the association, 40 percent of its total assets for the third quarter of this year were invested in Government of Ghana Securities. The association therefore warned that should government go ahead and include insurance companies…
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VISAL & iRisk Reinsurance Brokers organize a successful workshop for the Insurance market.
Visal Reinsurance Brokers Limited (Visal Re) in partnership with iRisk Reinsurance Brokers Limited (iRisk Re) have organized an educational workshop on treaty reinsurance accounting for the insurance market in Ghana. The three-day non-residential workshop held from Tuesday, October 11 to Thursday, October 13 at the Holiday Inn Hotel, Airport-Accra was aimed at building the technical…
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aYo insurance introduces Annual Cover on Recharge with Care
Ghana’s leading mobile microinsurance provider, aYo Intermediaries Ghana has introduced a new feature on its Recharge with Care (RwC) policy, which allows customers to make a one-time premium payment for a full annual cover. This comes after five years of standing tall in the microinsurance space and impacting thousands of lives with their Recharge with…
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We’ll continue to implement policies to build strong insurance sector – NIC
The National Insurance Commission (NIC) has assured of continued efforts to increase insurance penetration in the country in 2022. According to the NIC, even though insurance is one of the most important sectors in the economy, it has not recorded the needed patronage it deserves. Speaking on behalf of the Commissioner of Insurance at the…
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Insurance sector is still robust- Commissioner of Insurance
The National Insurance Commission says the country’s insurance sector has seen significant growth despite a dip in insurance penetration rate. The country experienced a reduction in Insurance penetration rate in 2018, from 1.12 percent to 1 percent. The NIC has attributed the decline to the rebasing of the economy which has now included other factors…
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Ghana’s insurance penetration rate drops to 1 percent
The country’s Insurance penetration rate has dropped to 1 percent from the previous rate of 1.12 percent, the 2018 report of the National Insurance Commission has revealed. The new rate includes both life and nonlife insurance. The decline of insurance penetration rate last year was witnessed despite the 21 percent growth in the industry’s gross…