SIC Insurance Plc, Ghana’s largest and oldest indigenous insurance company, has reaffirmed its commitment to working closely with the media to help increase insurance penetration across the country.
At a media soirée, the Managing Director of SIC Insurance Plc, Mr. James Agyenim Boateng, said the Company is intensifying efforts to educate the public on the importance of insurance, correct misconceptions about insurance policies and claims, and promote success stories that would strengthen public trust in the industry.
“We cannot transform this project without strong collaboration with those of you in the media,” Mr. Agyenim Boateng said.
“We therefore invite you to join hands with SIC Insurance Plc to educate the public about the importance of insurance, clarify misconceptions surrounding policies and claims, amplify success stories that build trust in the industry, and advocate financial protection through insurance as a national culture,” he added.
Mr. Agyenim Boateng also announced plans by the Company to introduce a mandatory travel insurance policy for all inbound non-Ghanaians entering the country.
The policy, dubbed the “Akwaaba” Policy, is expected to take effect from January 1, 2026, barring any unforeseen circumstances.
He said SIC Insurance Plc had already secured the necessary regulatory clearances and is ready to roll out the policy.
“It is our belief that together we can elevate public understanding and push Ghana’s insurance penetration significantly higher in 2026 and beyond,” he said.
The Managing Director further disclosed that SIC Insurance Plc’s share price on the Ghana Stock Exchange had increased by 344 percent since the beginning of 2025, attributing the strong performance to the Company’s focus on digital transformation, customer-centric service delivery and profitable underwriting.
He said the Company had paid a total of GH¢78 million in claims as of August 2025, compared with GH¢173.45 million paid in claims in 2024.
Mr. Agyenim Boateng said SIC Insurance Plc had intensified its digital innovation drive, enhancing its digital platforms to make policy purchase and renewal more convenient for customers.
He said the Company would further strengthen its digital transformation and customer-focused strategies in 2026 to improve service delivery.
Mr. Agyenim Boateng therefore appealed to media organisations to partner with SIC Insurance Plc to broaden insurance education nationwide and support the national agenda of increasing insurance penetration for the benefit of Ghanaians and the wider economy.
