Current Date: 20 Apr, 2024

Top 10 Best Insurance Companies in Ghana

There are 27 non-life insurance companies, 23 life insurance companies, 80 brokerage companies, and three reinsurance companies in Ghana. Please read this article below and learn about some of them.

Top 10 Best Insurance Companies in Ghana

This article highlights the top ten best insurance companies in Ghana.

Enterprise Insurance Company

Since its founding in 1924, Enterprise insurance company has served the nation by offering delectable insurance packages. Their services aim to protect their clients' future security while also assisting them in managing their material and financial losses.

Thanks to the intelligent placement of their branches nationwide, they are in the public eye. As a result, the company's efforts will have a life-changing impact on its clients.

Hollard Insurance

When it was first established in 1993, the insurance firm went under the name Madison Insurance before changing its name to Metropolitan Insurance Company four years later.

Hollard insurance started operating globally in 2015 after expanding into the provision of other commercial and consumer goods. The company currently has offices in Kumasi, Tamale, Takoradi, and Tema.

The organization offers various services, including indemnity, bonds, fidelity guarantee, engineering insurance, transit goods insurance, fire insurance, burglary insurance, travel insurance, executive insurance, personal injury cover, and more.

Priority Insurance Company

Priority Insurance Company is one of Ghana's most well-known insurance companies. In 2014, they were listed as the third-fastest-growing insurance provider in the nation.

The business has a solid crew driven to care for all your insurance needs and more than seven years of experience. 

Among the products offered by the company are motor insurance, transit goods insurance, indemnity, third-party liability, progressive loss of profits, business interruption, bonds, fire insurance, theft insurance, marine insurance, and building insurance.

State Insurance Company

The State Insurance Company (SIC) is a well-known insurance company in Ghana, with branches all over the country. With over 1400 shareholders on its platform, SIC is a significant player in offering non-life insurance products.

The insurance company covers travel, accidents, oil and gas, and maritime industry losses. They are renowned for their excellent customer service and professionalism in the field.

Activa Insurance

Activa Insurance, which belongs to the Pan-African Insurance Group, has the necessary licenses to provide its clients with the best insurance services, guaranteeing that their interests are safeguarded in every manner.

They offer services like third-party liability vehicle insurance, personal accident, group accident, homeowners insurance, travel insurance, and others. Their main office is in Accra, and they also have locations in Tamale, Takoradi, Tema, and Kumasi.

Star Assurance

Star Assurance Company Limited ("Star Assurance") is a privately held insurance company founded in August 1984 and licensed in Ghana to conduct corporate and retail insurance operations. Since it opened for operation in April 1985, the premium has increased by 30.9% compared to the prior year.

Among their accomplishments are

  • Non-Life Insurance Brand of the year -Marketing World Awards 2022
  • Outstanding Customer Service Award - Ghana-West African Excellence Awards 2022
  • Leader in HR Innovations Award - Africa HR Awards 2022
  • Employee Onboarding Award - Africa HR Awards 2022
  • Oil and Gas Award - Ghana Insurance Award 2021
  • Outstanding Customer Service Award (Insurance) - Ghana-West Africa Excellence Awards 2021

Glico General Insurance

GLICO General, a 2006 incorporation, works in the non-Life division of the insurance market. It ranks among the top five insurance providers in Ghana. It is one of the six subsidiaries of GLICO Holdings Limited.

Its headquarters is at Accra's GLICO House off Kwame Nkrumah Avenue. They serve customers from all social classes by offering thoughtful and quick non-life insurance solutions.

They provide various insurance products, such as automobile, property, liability, fire, marine, and special risk insurance. A four-member Board of Directors oversees its management and ensures that all legal and regulatory obligations are fully met. 

Dr. Kwame Achampong-Kyei, the founder and executive chairman of GLICO Holdings Limited, serves as the board's chair. 

Compared to the premium from the previous year, the company saw a growth of 16.9%. As a result, the company's standing among the top general insurance companies dropped to number five from position four the year before.

Metropolitan Insurance

Metropolitan Insurance, for example, combines international exposure with local market knowledge to give its clients the best services possible. Regardless of the package a client selects, they provide customized investing and risk management services to meet their needs. 

With products including group funeral umbrella, masterplan plus, permanent disability, credit life plan, school financing, retirement, the cash plan, and many more, it is one of the top insurance providers within the nation. 

There are other offices in Takoradi, Tarkwa, Akosombo, Kumasi, Obuasi, WeijaTema, and Bibiani, in addition to the central office in Accra.

Milife Insurance

Milife Insurance was established in 2005 and has locations all around the nation. In August 2017, the organization was ranked as Ghana's eighth-best insurance provider. With roughly GHS 57 million capital, they are among the best-capitalized insurance providers.

Its mission is to improve its customers' life by offering them more alternatives for accessible and affordable savings. Some products are Keyman life, Mortgage life, Credit life, Group life, miWay, miEducation, miKids, miLegacy, and miTribute.

The corporation has offices in Kumasi, Takoradi, Koforidua, Tamale, and other regions of Ghana, in addition to its headquarters in Accra.

Alliance Security

Alliance Security has served the nation for several years and provides a wide range of products to enhance its consumers' lives. The insurance company's foreign experience has aided in winning over the confidence of its Ghanaian clientele. '

It is a division of the German Alliance Group. They have a license from the Ghana Insurance Commission and offer services like auto, health, investments, savings, residence, and travel insurance. Their main office is in Accra.

Excellence Chukwuma Chukwunaedu

Excellence Chukwuma Chukwunaedu

I enjoy marketing, technology and business. I help businesses and brands connect with their ideal customer profiles and build products that excite them and solve their problems.