Chairman of the Board, Dr Audu Rauf, disclosed this at the annual general meeting of the company held in

 Accra to provide a platform for shareholders to engage with the company’s leader­ship on its 2023 performance and future outlook.

Dr Rauf highlighted key fi­nancial achievements of the com­pany during the period under the review, including profit after tax: of GH¢12,812,982, increase in insurance revenue 4.96 per cent, growth in net insurance result: 29.54 per cent, total group assets 27.15 per cent increase compared to 2022 and shareholders’ funds growth of 20.09 per cent

 The Chairman emphasised the company’s commitment to le­veraging cutting-edge technology to enhance customer experience, diversify products and services, strengthen partnerships, and empower employees for sustain­ability.

Dr Rauf also celebrated SIC’s compliance with International Financial Reporting Standards (IFRS17), which enhances trans­parency and operational efficiency.

He reiterated the company’s focus on innovation, custom­er-centricity, and strategic growth.

He then expressed his grat­itude to the management and staff for their dedication amidst global geopolitical challenges and domestic economic pressures.

Acting Managing Director, Ms Hollistar Duah-Yentumi, in her address expressed appreciation for the unwavering support from shareholders, employees, and partners.

“As we move forward, we remain committed to innovation, customer-centric solutions, and driving meaningful impact. With your trust, SIC Insurance will achieve new heights, delivering growth and safeguarding your investments,” she stated.

Established in 1955, SIC Insurance remains a cornerstone of Ghana’s financial landscape, serving generations of Ghanaians.

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While new market entrants have affected its market share, the company continues to be a viable and sustainable financial entity focused on reclaiming its leader­ship position.

Despite economic challenges, SIC remains committed to corpo­rate social responsibility, invest­ing in communities, supporting education, healthcare, and disaster relief efforts nationwide