These concerns were borne out of a news reportage by some media outlets that the company had rebranded.

In an exclusive interview with Happy FM, an Accra-based radio station Mr Aklasi mentioned that Donewell Insurance had not rebranded but instead; Donewell Life Assurance, a different entity with different ownership and management.

He explained that the con­cerns emanated from some sim­ilarities that Donewell Insurance had with Donewell Life Assur­ance Ltd – the company that has rebranded.

He elaborated that between 1993 and 2007/8 there was only one Donewell Insurance, provid­ing both life and non-life insur­ance services to its clientele base.

He however stated that, the promulgation of a new Insurance Act, 2006 (Act 724) which among other things provisioned the de­coupling of insurance companies in terms of long term business and short term business, meant that Donewell had to be split into two different entities.

“The distinction that I want to bring out clearly is that whilst for the short-term business in 12 months you’d have earned your premium, for the long-term busi­ness they are insuring people who would necessarily make a claim. In the 2006 insurance act they de­cided that we should separate the entities. So then, Donewell, which was the mother company, gave birth to Donewell Life. At a point down the line in about 2015, 2016 the shareholding changed.”

Donewell Insurance, took on the short term business or general business thus providing services or policies including house insurance, motor insurance, fire insurance etc. Donewell Life Assurance, on the other hand, assumed the life insurance aspect of the business.

Following the separation and the change in shareholding struc­ture, Donewell Life Assurance operated independent of Done­well Insurance Ltd with different ownership and management.

Mr Aklasi stated that, al­though the two entities had a shared history, a change in the shareholding structure meant that they adopted new business approaches.

“Therefore, the rebranding of Donewell Life Assurance to its new identity has no connection and impact on Donewell Insur­ance and its operations,” he said.

He said “Donewell Insurance is and continues to be in the general insurance business with successful and highly patronised products such as fire and allied perils, motor insurance, personal accident, bonds, contractors all risk, money insurance, plant and machinery, fidelity guaranteed policy, goods in transit and public liability policy.”

“If it is that you have a house insured, your factory insured, a travel policy etc., then you will know that you have been dealing with Donewell Insurance Ltd. We are here. Our name hasn’t changed since 1993 when we started operations,” Mr Aklasi said.