The Ghana Revenue Authority has announced that the implementation of value-added tax (VAT) on the supply of non-life insurance services, in line with the Value Added Tax (Amendment) Act, 2023, Act 1107, commenced on 1 April 2025. Suppliers of non-life insurance services must register for VAT and charge the standard VAT rate on policy premiums, where the registration threshold is met. Affected insurers can claim input VAT on qualifying expenses related to providing taxable non

Insurance companies that fail to meet the new minimum capital requirement by May this year may have to sell off their companies or merge with others. This is according to the Commissioner of Insurance for the National Insurance Commission (NIC), Justice Ofori. The move follows a decision by the NIC to see to the recapitalisation of insurance companies in the country. Insurance penetration in Ghana has remained low for years, hanging at just around two per cent. The contributi

Parliament recently passed the Insurance Act, 2021 (Act 1061) to replace the Insurance Act, 2006 (Act 724) and to provide for the regulation and supervision of the insurance market. Act 1061 creates three main licence categories under which insurance businesses may operate: Insurance Licence, Reinsurance Licence and the new Innovative Insurance Licence. An Innovative Insurance business uses new financial technology or any other innovative technology or method in the insurance

Players in the insurance industry last Friday gathered at the Kempinsky Hotel for the fourth edition of the Ghana Insurance Awards which seeks to celebrate the achievements of individuals and companies who have distinguished themselves in the industry in the year under review. Organised by Xodus Communication, the awards has since its inception in 2018 rewarded excellence and standards in the industry. The awards ceremony saw 20 companies and eight individuals winning 36 awar

Enterprise Life, Ghana’s leading life insurance underwriter has partnered Vodafone Ghana, MicroEnsure and Prudential Life to launch an all-inclusive mobile insurance product known as SafeNet for customers. SafeNet is underwritten by Enterprise Life Insurance Company Limited and Prudential Life Insurance Ghana Limited. The product has been designed to offer customers various insurance benefits including hospital cash compensations, accidental injuries and disability cover as

Ghana’s leading funeral service provider, Enterprise Funeral Services Ghana Limited (EFSG) trading as "Transitions – The Funeral People",...

The Enterprise Group has cut sod for the construction of a modern three storey classroom block at the Bishop Mixed JHS, next door to the...

Hollard Ghana with subsidiaries, Hollard Insurance and Hollard Life Assurance has announced October’s edition of H.Insured: All About...

SIC returns to the top whiles Hollard moves from fifth to third. In creating a new world of opportunity for individuals, businesses and the society, insurers can no longer move of the same traditional products and services, and expect to succeed. Customers, investors, and employees demand innovation from insurance companies. It is only by recognizing opportunities and challenges, and responding quickly that insurers will continue to be competitive. In the past decade, SIC ins

CFAO Ghana, the official distributor of Mitsubishi and Suzuki vehicles in Ghana has partnered with Allianz Insurance to introduce the first ever life insurance package attached to vehicle purchase in Ghana. The new package, called Auto Life by CFAO, is an initiative aimed at providing life insurance cover for all individuals who purchase a new Mitsubishi or Suzuki vehicle from CFAO Ghana Ltd, from the 1st of March, 2020. CFAO clients will automatically receive a five (5) y