SIC Life eyes lead role in insurance industry

The newly sworn-in board chairman of SIC Life Company Limited, Akwasi Aboagye Atuah, has promised to ensure that the company takes the lead in the insurance industry and control a majority of the market share.

The company which was established in line with the provision of the Insurance Act 2006, Act 724 as a fully licensed Life Insurance Company in 2007 has seen an exponential growth in its asset and revenue base in the past four years.

A six-member board has been sworn-in to oversee the strategic administration of the company.

The board chair Atuah said he will ensure that good corporate governance practices are enforced.

“We pledge to do our parts and ensure that governance will be the main driver for all of us. I have all the confidence that my board members will bring new innovations for us to be able to achieve and push on our agenda.

“Our agenda is very simple and that is to make SIC Life number one in the country. In the last four years, when we came into office, our gross premium has moved from GHC 258 million to GHC420 million. Our assets have grown from GHC 444 million to about GHC 885 million. We are number two and we control 20% of the market but we will continue to do our very best to achieve more,” he said.

The MD of SIC Life, Kwaku Appiah-Menka, said: “It is an honour and a privilege to be appointed as the MD of SIC Life. I am well aware of the task ahead of me and I will work very closely with my team to make sure that we put SIC Life on the pedestal that it really deserves to be.”

Other members of the board are Stephen Oduro, Felecia Ashley (SHRM-SCP), Daniel Anarfi (PHD), Edith Dankwa and Samuel Appenteng.

Philip Abutiate

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