SIC, one of the leading general insurance companies, last year exceeded its gross premium target, recording GH₵211 million in premiums.
The Chairman of the Board of Directors of SIC, Dr Ben Jimmy Heymann, who disclosed this at the company’s 13th Annual General Meeting, said the gross premium recorded last year represented 14 per cent market share of the general insurance market.
He attributed the feat to prudent management practices and effective corporate controls.
“There is every reason to be appreciative to all the shareholders and customers of the company, who have shown a high level of commitment and patronage to the company in helping it cross the 100-percent target set for the year under review,” Dr Heymann said.
The Chairman of the Board of Directors assured shareholders and stakeholders that the company was on the path “for long-term sustainability and value creation”.
“The board and management are constantly responding to new industry and market conditions to continuously improve for the benefit of shareholders and the general insuring population,” he said.
According to him, the company had shown great resilience in spite of the difficult operating environment last year.
“The goal of the board is to ensure responsible corporate management aimed at long-term growth while simultaneously maintaining effective corporate control. As industry leaders, we have a responsibility to lead the way and push for total compliance with all regulatory requirements to strengthen the insurance industry in Ghana,” he added.
The Managing Director of SIC, Mr Stephen Oduro, said the company would pursue a customer-focused strategy of putting the customer at the heart of everything it did to deliver the company’s sustainability programme.
SIC, he said, had invested a lot in the Information Communication Technology and greater part of its operation was now done online through its virtual teams in a bid to stay relevant in future and more especially as the world continued to grapple with the corona virus pandemic that kept bringing uncertainties.
“We are retraining our people to make use of the new digital technologies to enhance efficiency in our service delivery,” Mr Oduro said.
BY KINGSLEY ASARE