The average Ghanaian knows the relevance of insurance policies in protecting the future of both his family and loved ones as well as himself hence the need to know about insurance companies in good standing in Ghana 2020.
In 2018, Ghana witnessed a reform in its banking sector and the effectiveness of the reform across 2019 and 2020 gave rise to the insurance sector reform which came in form of the amendment of the Insurance Act, 2006, Act 724.
All insurance companies in good standing in Ghana currently work with the new insurance act 2021, Act 1061 as put out by the National Insurance Commission of Ghana.
In this article, I am faced with just one job. This job is to bring to you a list of Ghanaian insurance companies in good standing and in abidance with the new act as of the year 2020.
The list of insurance companies in good standing in Ghana 2020 includes those firms that provide only life insurance, those that provide non-life insurance, those that offer both policies to the clients, and then the general insurance companies.
Insurance Companies In Good Standing In Ghana 2020
A life insurance policy guarantees the insurer pays a sum of money to named beneficiaries when the insured dies in exchange for the premiums paid by the policyholder during their lifetime.
- Allianz Life Insurance Ghana Limited
- Beige Assure Company
- Donewell Life Company
- Enterprise Life Assurance LTD
- Esich Life Assurance Company Ltd.
- Exceed Life Assurance Company Limited
- First Insurance Company Limited
- Ghana Life Insurance Company
- Ghana Union Assurance Life Company
- Glico Life Insurance Company
- GN Life Assurance Limited
- Hollard Life Assurance Company Limited
- Metropolitan Life Insurance Ghana Limited
- MiLife Company Company Limited
The term general insurance covers insurance policies that combine both life and non-life insurance and renders these services accordingly.
- Activa International Insurance Company-Ghana Limited
- Allianz Insurance Company Gh. Ltd
- Bedrock Insurance Company Limited
- Best Assurance Company Limited
- Coronation Insurance Ghana Limited (Wapic Insurance Ghana Limited)
- Donewell Insurance Company Limited
- Enterprise Insurance LTD
- Ghana Union Assurance Limited
- Glico General Insurance Company Limited
- Heritage Energy Insurance Company Limited
- Hollard Insurance Ghana Limited
- Imperial General Assurance Company Ltd.
- Loyalty Insurance Company Limited
- Millennium Insurance Company Limited
Above all, the view of this article is to introduce you to all insurance companies in good standing in Ghana as of 2020 and to a large extent give you a breakdown of firms offering life insurance and those offering general insurance.