The Acting Managing Director of SIC Insurance PLC, Mr. James Agyenim-Boateng, has called on state-owned enterprises (SOEs) and other institutions with state interest to insure their businesses with SIC Insurance PLC.
Mr Agyenim-Boateng assured that SIC Insurance PLC is stable, has strong financial muscle and pays claims on time.
He was speaking during a courtesy call on the Acting Chief Executive Officer of the Petroleum Commission, Ghana, Ms. Emeafa Hardcastle, at the Commission’s head office in Accra.
Mr Agyenim-Boateng said his visit was to explore closer collaboration with the Petroleum Commission and to solicit the support of its Chief Executive Officer in ensuring that SIC does not only insure the assets of the Commission but also becomes a major player for insurance services in the oil and gas sector.
He said he is committed to working hard to return all the big insurance accounts that were deliberately taken away from SIC Insurance PLC. During the tenure of the Akufo-Addo administration, a lot of government’s insurance contracts were deliberately taken away from the state insurer and given to Enterprise Insurance which the then Finance Minister, Ken Ofori-Atta has a large equity stake in. Resultantly, Enterprise has clearly overtaken SIC Insurance as the largest insurer in Ghana, adjudged by both assets and income.
Mr Agyenim-Boateng therefore urged Chief Executive Officers, especially those in state-owned enterprises, to cooperate and help the state insurer reposition itself as the lead insurer in the country.
