SIC Insurance holds successful AGM

…declares dividend

SIC Insurance Plc, Ghana’s pioneer and most experienced insurance company, has held its Annual General Meeting (AGM) providing a platform for shareholders to engage with the company’s leadership on its 2023 performance and future outlook.

Dividend declared

Chairman of the Board, Dr. Audu Rauf, announced a dividend of GHC 0.0511 per share, much to the delight of shareholders.

Performance Highlights for 2023

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

He highlighted key financial achievements, including: Profit after Tax: GHC 12,812,982, Increase in Insurance Revenue: 4.96%, Growth in Net Insurance Result: 29.54%, Total Group Assets: 27.15% increase compared to 2022 and Shareholders’ Funds Growth: 20.09%

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

Compliance and Innovation

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.

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.

SIC Insurance Plc.

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

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