DICL was incorporated under the Companies Code 1963 (Act 179) on 3rd November, 1988 as a Mutual Insurance Company owned by the Methodist Church Ghana. The Company was granted a License to operate as a Composite Insurer by the NIC on 28th February, 1993 in accordance with PNDC Law 227 and commenced business on 1st March, 1993.

Over the past 15 years it has been selling both Life and non-life products within the Ghanaian market. From January 1, 2008, the Life Division of Donewell Insurance Company Limited started to operate as a fully fledged Life Assurance Company under the name DONEWELL LIFE COMPANY LIMITED to comply with the provisions of the new Insurance Act, 2006 (Act 724).

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