Top Insurance Companies in Ghana

Leading Insurance Companies in Ghana

Top Insurance Companies in Ghana

Marcopolis.net has compiled list of top insurance companies in Ghana.

The list of the top insurance companies in Ghana is compiled and published by the Marcopolis.net research team. The team made use of the latest available economic reports and the institutions’ annual reports. The final list of Ghana’s top insurance companies is defined by the size and market share of the particular insurance companies. Note that the list is not in a numerical order.

According to National Insurance Commission (NIC Ghana) website, the insurance sector in Ghana is governed by “Insurance Act 2006, ACT 724. This Act complies significantly with the International Association of Insurance Supervisors (IAIS) Core Principles and gives better regulatory powers to the National Insurance Commission.”

NIC, chaired by Lionel Mobila, states that as of June 2016, there are 26 non-life insurance companies operating in Ghana, along with 23 life insurance companies, 3 reinsurance companies, and 7,000 insurance agents. The latest data shows that the number of insurance broking companies rose to 85 in 2017.

Non-life insurance businesses operate in the following categories: fire burglary and property damage, accident, marine and aviation, motor, and general liability. Life insurance products cover universal life insurance, funeral, whole life, endowment, term, and group life.

The top insurance companies in Ghana lists includes, among others, Activa Insurance Company, Saham Insurance and Enterprise Life Assurance Company (ELAC).

Top Insurance Companies in Ghana