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Commissioner tells insurance companies to offer fair customer service

Madam Lydia Lariba Bawa, the Commissioner of the National Insurance Commission, on Tuesday urged insurance companies to treat their customers fairly to improve customer satisfaction and confidence in the sector. She said fair treatment of customers required sales agents to clearly explain the features and all terms and conditions of the …

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Finance Minister inaugurates SSNIT Board

Mr Ken Ofori-Atta, the Finance Minister on Thursday inaugurated an 11-member Social Security and National Insurance Trust (SSNIT) Board of Trustees with a charge on them to use their expertise to ensure the Trust’s prosperity and robustness.  He urged the members to adopt prudent management practices to ensure that pensions …

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Insurance penetration in Ghana too low – PEF

Nana Osei Bonsu, Chief Executive Officer of the Private Enterprise Foundation (PEF) has bemoaned the low penetration of the insurance industry in the country. He described the industry’s less than two per cent contribution to the country’s gross domestic product as “woefully inadequate”, and called for high level collaboration among …

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NPRA sensitises general public on three-tier pension scheme

A special provision has been made in the third-tier voluntary personal pension scheme of the new three-tier pension scheme to cater for the peculiar needs of workers in the informal sector of the economy. The informal sector, which constitutes about 80 per cent of Ghana’s workforce, would elect to contribute …

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One million informal sector workers to be registered on new pension scheme

The National Pensions Regulatory Authority (NPRA) has targeted to register about one million informal sector workers on its new three-tier pension scheme by close of 2017. Mr Emmanuel Awuku Dagbanu, Corporate Affairs Manager of NPRA, disclosed this at an outreach programme in Bolgatanga to sensitise the public on the new …

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Private Commercial Buildings in Accra drilled over compulsory insurance

Nine private commercial buildings in Accra, were on Wednesday drilled over compulsory insurance by the National Task Force of the National Insurance Commission (NIC).   The buildings located in Asylum Down, Osu and Spintex Road, housed Eco Furniture Works, City Centre Guest House, IGS Financial Services, Casino Gold, Yan Tai International …

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NIC arrests heads of two companies for failing to insure property

The National Insurance Commission (NIC),Taskforce has arrested the heads of two companies in the Greater Accra Metropolis for failing to insure their commercial property.      The companies are the General Auto Zone Company and Ghana Heavy Duty Truck and Spare Parts and were detained at the Police Headquarters for …

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MTN partners GLICO to launch Mobile Care Insurance

MTN in partnership with GLICO General Insurance Company has launched a Mobile Care insurance designed as a protection against accidental phone damage, screen damage, theft and loss of mobile phone. The Mobile Care Insurance is currently available for MTN Pay Monthly customers. Mr  Sakyi Opoku, Senior Marketing Manager MTN, said …

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Investigate second tier pension scheme – TEWU

The Teachers and Educational Workers Union (TEWU) of the Trades Union Congress (TUC) has appealed to government to investigate the why workers five percent contribution towards the second tier pension scheme had not been released. According to TEWU since the scheme started in 2010 the previous government had delayed in …

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BEIGE acquires Universal Pensions

The BEIGE Group (TBG), a financial services provider, has acquired Universal Pensions Master Trust (UPMT), a licensed corporate trustee. This brings to two, the number of corporate trustees that have been acquired by TBG in the last 18 months. TBG’s first acquisition of a corporate trustee firm was in 2014 …

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