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NEM explores Ghana market, in full operations

By Patience Saghana
In line with the company’s expansion drive, which cuts across the sub regional borders, Nem Insurance Plc has commenced full operations in Ghana.

It commenced the Ghana operations in July with management staff that included Mr. Saraki Iyiola as the Managing Director/Chief Executive Officer, Mr. Victor Adayiah as the General Manager and Chief Operating Officer.

Others are Mr. Omoya Olubu, as the Assistant General Manager, Technical, and Mr. Emmanuel Ajayi as the Assistant General Manager, Finance and Administration.

This subsidiary is under the chairmanship of a Ghanaian legal icon and an astute businessman, Barrister Edward Pianim.
Nem Insurance also got an ‘A’ rating from a first class and internationally recognised rating agency, Global Rating Company, based in South Africa with global network.

NEM Insurance and Intercontinental Wapic have both been issued licenses to operate in Ghana, thus joining the league of Nigerian insurance companies in that country.

Two other insurance companies also got  licenses to operate by National Insurance Commission, Ghana. They are Beacon Insurance Company (BIC) and Express Life.

Other Nigerian insurance companies already in the Ghanaian market are International Energy Insurance, Equity Assurance, Regency Alliance, Industrial and General Insurance Company, Capital Express Life, Equity Assurance.

The total number of insurance companies licenced to operate in that country increased from 35 to 39 at the close of 2008. A breakdown of the companies shows that 17 are into life underwriting and 22 non-life.

Other insurance companies operating in Ghana include: SIC Insurance Company, Vanguard Assurance, Enterprise Insurance, Donewell Insurance, Prime Insurance, Ghana Union.

Others are Phoenix , Provident, CDH Insurance, Quality Insurance, Unique Insurance, GLiCO General, Metropolitan Insurance, Star Assurance and Global Alliance,

The life companies are SIC Life, StarLife, CDH Life, Ghana Life, GLiCO Life, Ghana Union Life, Provident Life, Donewell Life, Vanguard Life, Metropolitan Life Ghana, Enterprise Life Assurance Company, Quality Life, Phoenix Life, and Unique Life.


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