Insurance


Typical Concerns:
 
  • What is the insurance regulatory body in Ghana?
  • How many insurance companies are there in Ghana?
  • How do I determine the financial stability of Ghanaian insurance companies?
  • What types of coverage are available from Ghanaian insurance companies?
  • How do I find a qualified insurance professional?
 
Solutions:
  • National Insurance Commission
 
The National Insurance Commission  is the regulatory body for the insurance industry in Ghana.  As of January 2010, the insurance industry consisted of the following:
 
23  Non-Life Companies
17  Life Companies
2  Reinsurance Companies
40  Broking Companies
1  Reinsurance Broking Company
1  Loss Adjusting Company
4000  Insurance Agents

  • Insurer Solvency
 
Insurance Solvency Requirements - Insurance Act 2006, Act 724 Ghana has adopted these insurer solvency statutes and is a member of the International Association of Insurance Supervisors
Various credit reporting agencies generate financial evaluations of these insurance companies including AM Best.
 
  • Ghana Coverages
 
Coverage available from Ghana insurance companies can be found on the NIC Product List
Political risk and other complex coverages are available from international and local brokers. 
 
  • Insurance Professionals
 
Chambers of Commerce, Attorneys, and Chartered Accountants are good referral sources for insurance agents and brokers.  
 
Helpful Resources:
 

 

Industry Specialists

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Edward Menshah, Wood & Associates LTD.
UCPM