Serene Insurance to fulfill new minimum capital of GH¢50m

Business News of Friday, 6 December 2019

Source: Myjoyonline.com

2019-12-06

Serene Insurance is set to fulfill the new minimum capital requirement

Serene Insurance is set to fulfill the new minimum capital requirements of 50million as outlined by the National Insurance Commission (NIC).

The Founder of First Sky Group, Eric Seddy Kutortse at the official inauguration of the Ho branch noted the new minimum capital requirements will be met by the company one clear year ahead of the deadline stipulated by the NIC.

“I am glad to announce that by the second quarter of 2020, Serene Insurance Company would have fulfilled the new capital requirements which are a clear one ahead of the stipulated time” Mr Kutortse stated.

The Chairman further added that the Insurance Company is set to also commission other branches by January 2020 in Kumasi, Takoradi, and Koforidua respectively.

“The overriding motive of the First Sky Group is at all times driven by service to God and mankind, pursuit of humanitarian cause and a just society kingdom.

“By patronising Serene Insurance products, you are contributing your quota to the growth of God’s kingdom business and the humanitarian works of our nation,” he continued.

Mr Kutortse then gave the assurance that the Serene Insurance will uphold the highest standards of integrity, professionalism, and respect for the people.

Chief Executive Officer (CEO) of the Insurance Company, Christopher Boadi -Mensah noted that the company has succeeded in redefining public perception and positively influencing the delivery of insurance service in Ghana and has also become the preferred insurer of choice for many.

He said “our vision is to be the leading model for delivering value all the time in the insurance industry, through innovative products and efficient operations that would enable us to generate sustainable employment for our people”

The Volta Region Minister, Dr Archibald Yao Letsa said insurance plays a critical role in the socio-economic advancement of the Volta Region.

He said the insurance services are very vital to the extent that “as long as we continue to live, we must take an everyday risk”

Dr Letsa reiterated government’s commitment to providing enabling environment and infrastructure needed in the socio-economic upliftment of the people.

Dufia of Ho Come, Togbui Aji Lakle Howusu 12th commended the Chairman of the First Sky Group for the employment opportunities for the youths of the region with his companies.

According to the national insurance commission annual report for 2018, the insurance subsector recorded a decent growth of 21 % from ¢2.4billion in 2017, to ¢2.9 billion in 2018

Total industrial assets also increased from ¢5.4 billion in 2017 to ¢6.2 billion in 2018.

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