The transaction had been ongoing for some time to ensure compliance with regulatory due diligence procedures and that involved a one-year business transformation plan which included an injection of new capital.

Empire Mutual Health offers health insurance policies for corporate bodies and individuals.

It started its business operations in 2012 until it was acquired by The BEIGE Group in September 2015.

It is licensed by the Private Health Insurance Scheme (PHIS) unit of the National Health Insurance Authority (NHIA) to carry on the business of private commercial health insurance.

Commenting on the acquisition, Mr. Mike Nyinaku, CEO of TBG explained that the acquisition of Empire Mutual Health was an essential compliment to the platform TBG is building.

“We are carefully executing an agenda whose end is to place us in a position of advantage as we seek to establish a platform that will serve as Ghana’s supermarket for Financial Services. We have the distribution network that would support an effective roll-out of a variety of Health Insurance Products to the market so we’d hit the ground running. Customers can expect an aligned proposition that utilises the reputation and technical expertise of TBG to deliver an integrated service and improved value to clients,” Mike said.

TBG is a financial services provider with business interests in Banking, Pensions, Insurance and Investments.