The non life insurer SIC Insurance has published its results for the year 2015. Unaudited figures are referring to 9.53 million GHS (2.5 million USD) in net profits, that is, 214% more than 2014. Written premiums have also increased from 115.7 million GHS (36.3 million USD) in 2014 at 139.1 million GHS (36.5 million USD) in 2015. This 20% increase will make it possible for SIC Insurance to maintain its firm grip on the non life class of business.
Kwei Mensah Ashidam, acting managing director of the company explains that these good figures are accounted for by a cautious underwriting policy, an aggressive marketing strategy and a strict enforcement of the “non-coverage policy” in case of non-immediate payment of the insurance premium. The risk management policy has also contributed to the improvement of the transaction flow thanks to more stringent control.