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The Board Chairman of Serene Insurance Limited, a member of the First Sky Group, Mr Charles Edem Gidi, has been inducted into the 2023 Corporate Hall of Fame at the sixth edition of the Ghana Corporate Executive Hall of Fame awards held in Accra.
The sixth edition was held on the theme: ‘Guiding Corporate Ghana through the economic challenges of 2023’.
The Corporate Ghana Hall of Fame is an avenue targeted at rallying corporate/ institutional Board Chairpersons, and in some cases non-executive Directors as a public policy advocacy group and business strategy think tank while creating business leadership networking platform.
The prestigious award is in recognition of Mr Gidi’s exemplary and visionary leadership in steering Serene Insurance Limited to becoming a strong household brand in the general insurance
sector of the economy.
Sharing the honour with other captains of industry at the induction, a citation accompanying the induction with a plaque and medal noted that Mr Gidi’s exceptional leadership, character, vision, integrity and focus to continuously provide direction to deliver projects impacted directly on positioning Serene Insurance Limited as the insurance company of choice in the country.
Commenting on the award in a statement issued in Accra on Friday, Board Chair of Serene Insurance, Mr Gidi, said, ‘I am humbled by this recognition which is an indication that we are doing something worthy of note. It is therefore pleasing to know that the presence of Serene Insurance impacts positively on the overall agenda to deepen insurance penetration to boost business competiveness in the country. There is more to be done in this regard and I am more than motivated to continue to push further to consolidate the brand of Serene Insurance”.
Since its inception in late 2018, Serene Insurance has built a privileged reputation as a provider of reliable and cost effective insurance products and services that address the needs of the insuring public, having been adjudged the fastest growing insurance company in Ghana in 2022.
Serene Insurance has demonstrated strong growth in key financial metrics across its various business segments as it recorded about GH¢43.3m in gross written premiums for the 2021 financial year, representing 50 per cent increase as against GH¢21.7m in 2020.
Serene Insurance is well capitalised with about GH¢59 million and was the first insurance company in Ghana to officially announce full capitalisation in January 2021, far above the limit set for new capital requirements by the regulator, the National Insurance Commission, for insurance firms.
From the onset with one branch, today Serene Insurance boasts of nine branches with over sixty-eight staff and more than forty thousand institutional and retail client base showing the steady growth and penetration into the Ghanaian market in a space of four years.
