A scene during the opening ceremony
Imperial General Assurance has opened a new head office at Cantonments in Accra to showcase the new mindset and customer orientation of the company.
Managing Director of Imperial General Assurance, Robert Wugah, speaking at the opening ceremony said management embarked on a strategic restructuring to reposition the company to offer better services and improve service delivery to both potential and current customers.
“In line with this restructuring is the opening of our new head office to strength the presence of Imperial General Assurance in the insurance industry”, he stated.
He further indicated that the company has witnessed significant injection of additional capital which has positioned it among the few Ghanaian owned companies in the insurance industry to have met the new minimum capital requirement by the National Insurance Commission (NIC).
Director of Financial Sector Division, Ministry of Finance, Sampson Akligoh, reported that the insurance industry recorded GHS 11.06 billion in June 2022 relative to the GHS 8.7 billion in total assets in June 2021.
This, he said, indicates an increase of 26.4 per cent and continues to remain robust and resolute in its year-on-year growth trajectory.
Mr. Akligoh said that the industry has over the years contributed to employment creation with an estimated value of 13,000 employees.
He said the government has put in place measures to facilitate financial market development, which includes the design of the National Financial Inclusion and Development Strategy (NFIDS) to provide a broad range of affordable and quality financial services to all Ghanaians,” he added.
Mr. Akligoh stated that the government has developed the Capital Market Plan to make the capital market attractive to domestic investors including insurance companies and is working to establish a Domestic Credit Rating Agency (DCRA).
“This will facilitate the rating of companies in the financial sector”, he noted.
By Hudda Bala Abdul Manan