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Fitch sees rising risks as Chinese insurers invest overseas

Credit rating agency, Fitch says rapid growth in overseas investment by Chinese insurance companies could lead to rising risks in a number of areas, including asset-liability duration, currency mismatches, asset concentration risks and execution risks from mergers and acquisitions. Chinese insurance companies are said to have ramped up their overseas …

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Insurance contribution to GDP still unimpressive – Commissioner

The Commissioner of Insurance Ms Lydia Lariba Bawa, says the contribution of insurance to Ghana’s gross domestic product (GDP) is still a little above one per cent, while the rates are higher in other African Countries. She explained that Kenya and Mauritius, for instance, contributed 3.1 per cent and 3.7 …

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Minister tasks insurance sector to fund SMEs

The insurance sector should partner the Government to provide financial support to Small and Medium Scale Enterprises (SMEs) at reduced costs to enhance job creation and sustained national development. Dr Rashid Pelpuo, a Minister of State at the Office of the President in-Charge of Private Sector Development and Public Private …

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National Health Insurance Authority reaches GH¢9m premium in Greater Accra

The National Health Insurance Authority (NHIA) says the Greater Accra Region exceeded its premium collection target of GH¢6 million for 2015 after officials introduced innovative strategies to woo more beneficiaries. The Region raked in about GH¢9 million which was more than the expected GH¢6 million mark the Authority set for …

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Technical Committee to restructure NHIS constituted – President Mahama

President John Dramani Mahama on Thursday said he had constituted a technical committee to make proposals that would contribute to a fundamental redesigning of the National Health Insurance Scheme (NHIS) to address Health Sector financing. He said financing of the health sector remained a challenge, hence the decision to redesign …

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Active membership of National Health Insurance Scheme stands at 38% – Study

A study on Maternal Health and The National Health Insurance (NHIS) in 20 poor districts and 120 communities indicates that the active membership of the Scheme stands at 10,145 representing, 38 per cent of the Ghanaian population. About 128 communities selected from the Greater Accra and the three Northern Regions …

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Metropolitan Insurance now Hollard Insurance Ghana

The Metropolitan Insurance Company (MET) has re-branded to Hollard Insurance Ghana Limited following its acquisition by the South African Insurer. “Today, just as a young lady might get married and voluntarily take on the name of her chosen life partner, we at MET have decided to take on a new …

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Ghana is one of most attractive African countries for insurance industry growth – EY study

Ghana is one of the African countries with the most attractive mix of risk and opportunities for the insurance industry, a survey of seven key markets in East and West Africa by EY (Ernst & Young) has found. The survey examined 125 insurance executives and regulators in the East African …

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LeapFrog invests in Ghana’s UT Life

LeapFrog Investments, a specialist investor in emerging markets, has acquired a majority stake in UT Life Insurance Company Ltd, an official statement has said. UT Life is one of the key players in the life insurance sector in Ghana. This is LeapFrog’s third direct investment in Ghana, and second in …

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Prudential Financial and LeapFrog partnership eyes insurance in Ghana

Prudential Financial, Inc (PFI) and LeapFrog Investments have announced the launch of a $350 million investment partnership to access high-growth markets in Africa. A statement issued by PFI to the Ghana News Agency on Friday said, managed by LeapFrog, the new investment vehicle would target investments in life insurance companies …

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