Insurance companies in Ghana: ranking per 2020 turnover
Life insurance companies in Ghana
In thousandsCompanies | 2020 turnover | 2019 turnover | 2019-2020 evolution (1) | 2020 shares | ||
---|---|---|---|---|---|---|
GHS | USD | GHS | USD | |||
Enterprise Life Assurance | 521 270 | 88 621 | 436 674 | 76 405 | 19.37% | 13.25% |
SIC Life Insurance | 401 646 | 68 284 | 354 583 | 62 041 | 13.27% | 10.21% |
StarLife Assurance | 321 501 | 54 658 | 260 937 | 45 656 | 23.21% | 8.17% |
Prudential Life Insurance Ghana | 157 743 | 26 818 | 116 133 | 20 320 | 35.83% | 4.01% |
Glico Life Insurance | 148 934 | 25 320 | 120 454 | 21 076 | 23.64% | 3.79% |
Metropolitan Life Insurance Ghana | 99 330 | 16 887 | 70 110 | 12 267 | 41.68% | 2.53% |
Old Mutual Assurance Ghana | 83 184 | 14 142 | 82 113 | 14 367 | 1.30% | 2.11% |
Mi Life Insurance | 80 703 | 13 720 | 48 636 | 8 510 | 65.93% | 2.05% |
Allianz Life Insurance | 31 662 | 5 383 | 18 557 | 3 247 | 70.62% | 0.80% |
Phoenix Life Assurance | 30 185 | 5 132 | 18 977 | 3 320 | 59.06% | 0.77% |
Saham Life Insurance Ghana | 24 334 | 4 137 | 19 850 | 3 473 | 22.59% | 0.62% |
Quality Life Assurance | 24 217 | 4 117 | 18 013 | 3 152 | 34.44% | 0.62% |
Donewell Life Insurance | 19 778 | 3 362 | 16 155 | 2 827 | 22.43% | 0.50% |
Vanguard Life Assurance | 16 861 | 2 866 | 17 459 | 3 055 | -3.43% | 0.43% |
Hollard Life Assurance | 14 327 | 2 436 | 6 823 | 1 194 | 109.98% | 0.36% |
Ghana Union Assurance Life | 11 762 | 2 000 | 10 518 | 1 840 | 11.83% | 0.30% |
First Insurance | 5 068 | 862 | 3 119 | 546 | 62.49% | 0.13% |
Exceed Life Assurance | 3 299 | 561 | 1 893 | 331 | 74.27% | 0.08% |
GN Life Assurance | 2 987 | 508 | 9 715 | 1 700 | -69.25% | 0.08% |
Ghana Life Insurance | NA | NA | 21 167 | 3704 | - | - |
Total life | 1 998 791 | 339 814 | 1 651 886 | 289 031 | 21% | 50.81% |
(1) Growth rate in local currency
(2) Ghana Oil and Gas Insurance Pool
Non life insurance companies in Ghana
In thousandsCompanies | 2020 turnover | 2019 turnover | 2019-2020 evolution (1) | 2020 shares | ||
---|---|---|---|---|---|---|
GHS | USD | GHS | USD | |||
Enterprise Insurance | 259 686 | 44 149 | 207 059 | 36 229 | 25.42% | 6.60% |
SIC Insurance | 242 689 | 41 260 | 211 514 | 37 009 | 14.74% | 6.17% |
Hollard Insurance Ghana | 172 262 | 29 286 | 123 560 | 21 619 | 39.42% | 4.38% |
Glico General Insurance | 147 958 | 25 154 | 113 795 | 19 911 | 30.02% | 3.76% |
Star Assurance | 146 980 | 24 988 | 121 653 | 21 286 | 20.82% | 3.74% |
Vanguard Assurance | 138 801 | 23 598 | 104 730 | 18 325 | 32.53% | 3.53% |
Ghana Union Assurance | 113 813 | 19 349 | 92 491 | 16 183 | 23.05% | 2.89% |
Activa International Insurance | 80 143 | 13 625 | 74 353 | 13 009 | 7.79% | 2.04% |
Phoenix Insurance | 68 901 | 11 714 | 52 694 | 9 220 | 30.76% | 1.75% |
Sunu Assurance | 59 292 | 10 080 | 47 528 | 8 316 | 24.75% | 1.51% |
Allianz Insurance | 55 875 | 9 499 | 38 040 | 6 656 | 46.88% | 1.42% |
Prime Insurance | 51 417 | 8 741 | 33 816 | 5 917 | 52.05% | 1.31% |
Donewell Insurance | 47 584 | 8 090 | 58 439 | 10 225 | -18.57% | 1.21% |
Quality Insurance | 46 142 | 7 845 | 44 352 | 7 760 | 4.04% | 1.17% |
Provident Insurance | 40 649 | 6 911 | 27 669 | 4 841 | 46.91% | 1.03% |
RegencyNem Insurance Ghana | 40 042 | 6 807 | 30 162 | 5 277 | 32.76% | 1.02% |
Saham Insurance Ghana | 37 821 | 6 430 | 34 092 | 5 965 | 10.94% | 0.96% |
Priority Insurance | 27 966 | 4 755 | 17 403 | 3 045 | 60.70% | 0.71% |
Millennium Insurance | 26 860 | 4 566 | 16 929 | 2 962 | 58.66% | 0.68% |
Best Assurance | 22 321 | 3 795 | 13 153 | 2 301 | 69.70% | 0.57% |
Serene Insurance | 21 220 | 3 608 | 6 130 | 1 072 | 246.17% | 0.54% |
Wapic Insurance Ghana | 20 263 | 3 445 | 23 290 | 4 075 | -13.00% | 0.52% |
Unique Insurance | 17 780 | 3 023 | 13 555 | 2 372 | 31.17% | 0.45% |
NSIA Ghana Insurance | 17 724 | 3 013 | 13 816 | 2 417 | 28.29% | 0.45% |
Imperial General Assurance Co. Ltd. | 16 005 | 2 721 | 10 689 | 1 870 | 49.73% | 0.41% |
Loyalty Insurance | 10 792 | 1 835 | 8 137 | 1 424 | 32.63% | 0.27% |
Bedrock Insurance | 3 752 | 638 | 2 313 | 405 | 62.21% | 0.10% |
Heritage Insurance | NA | NA | 24 140 | 4 224 | - | - |
Multi Insurance | NA | NA | 2 073 | 363 | - | - |
GOGIP (2) | NA | NA | 266 929 | 46 705 | - | - |
Total non life | 1 934 738 | 328 925 | 1 834 504 | 320 983 | 5.46% | 49.19% |
(1) Growth rate in local currency
(2) Ghana Oil and Gas Insurance Pool
Exchange rate as at 31/12/2020 : 1 GHS = 0.17001 USD ; at 31/12/2019: 1 GHS = 0.17497 USD
Read also | Ghana insurance market
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