The importance of insurance company in our lives cannot be overstated. It serves as a source of income to a country. Before we go into the list of insurance companies in Ghana. The overall economic growth and development of a country or an environment by just the provision of a stable functioning process is made possible through the presence of an insurance company. The problem that is associated with uncertainty through the process of increasing financial resources and also the improvement of a commercial institution is curtailed through insurance.
Not only that the insurance company prevents the risks of contingencies in human life and business, but also security and safety of lives and properties are entered by an insurance company. That is to say that with the backup of an insurance company, a fear of a sudden loss which an insurance company has already provided cover for is solved because a financial aid is provided to the insured family on his demise in case of life insurance and loss due to marine, fire, and accidents; security is provided to the insured.
LIST OF INSURANCE COMPANIES IN GHANA
- STAR LIFE ASSURANCE COMPANY
Head Office Address: No. C653/3 5th Crescent Randolph Hse. Asylum Down Accra; Ghana.
Telephone Contact: 0302 258943.
Official Website: https://starlifeassurance.com/
- BARCLAYS BANK GHANA
Head Office Address: John Evans Atta Mills High St, Accra, Ghana
Phone: +233 30 266 4901
Official Website: https://www.gh.barclaysafrica.com/talk-to-us/
- ALPHA LAMBDA INVESTMENT
Head Office Address: East Legon, Accra, Ghana.
- KEKS INSURANCE BROKERS
Head Office Address: Airport Residential, 40/41 Senchi street, Accra, Ghana
Contact Phone: +233 30 276 4023
Official Website: https://kekgroup.net/
- VANGUARD ASSURANCE COMPANY
Head Office Address: 25 Independence Ave, Accra, Ghana.
Contact Phone: +233 24 433 4407
Official Website: https://www.vanguardassurance.com/
- ASCOMA GHANA LIMITED
Head Office Address: Special House Building, Airport Residential Area, Accra, Ghana
Contact Phone: +233 30 279 0471
Official Website: www.ascoma.com
- ENTERPRISE TRUSTEES LIMITED
NO 47 PATRICE LUMUMBA ROAD. ACCRA. Ghana.
Contact Phone: 0302634704.
Official Website: https://www.enterprisegroup.net.gh/trustees/
- GLICO HEALTHCARE LIMITED
Head Office Address: Kwame Nkrumah Ave, Accra, Ghana
Contact Phone: +233 30 221 8500
Official Website: https://glicohealth.com/
- PHOENIX INSURANCE
Head Office Address: 244/3 6th Ringway Estates, Accra, Ghana
Contact Phone: +233 30 224 6319
Official Website: https://phoenixinsurancegh.com/
- ENTERPRISE INSURANCE COMPANY
Head Office Address: Enterprise House, No.11 High Street, Accra, Ghana P.O. Box GP 50 Accra Ghana
Contact Phone number: +233 –302 66 68 47
Official Website: https://www.enterprisegroup.net.gh/insurance/
- METROPOLITAN LIFE INSURANCE, GHANA
Head Office Address: Tabon Loop, Accra, Ghana
Phone: +233 30 263 3933
Official Website: https://www.metropolitan.com.gh/ldb/?view=featured
- PRUDENTIAL LIFE, GHANA, LIMITED
No. 35 North Street, Accra, Ghana.
Official Website: www.prudential.com.gh/contactus
- SOVEREIGN BANK, GHANA
Platinum Place,Kanda High Street PMB CT 363,Cantonments, Accra, Accra, Ghana View map
+233 (0) 302 634330
+233 (0) 302 634359
- TRI-STAR INSURANCE SERVICES LIMITED
Head Office Address: No. 14 Lari Close, Tesano, Accra
Official Website: https://www.tristarghana.com/
- MCCARTHY MICRO FINANCE SERVICE
Head Office Address: No. 001, 28th February Road, Christianborg Osu, Accra, Accra, Ghana
Phone: +233 30 221 8444
Official Website: www.ndkfinancialservices.com/
- NATIONWIDE MEDICAL INSURANCE
ADDRESS. P.M.B. 108, Airport, Accra Ghana. BESbswy. BESbswy.
Our Contacts. Office. +233 (0) 30 – 222 – 6892. +233 (0) 80 – 022 – 2222.
Official Website: https://nationwidemh.com/
- ACTIVA INSURANCE COMPANY
Head Office Address: Adjacent Holy Spirit Cathedral, Ferguson Chapman Grant House No. 5 Farrar Avenue, Barnes Rd, Accra, Ghana
Phone: +233 30 267 2145
Official Website: https://www.activa-ghana.com/
- SIC INSURANCE COMPANY
Headquarters Address: Nyemitei House; 28/29 Ring Road East; Osu, Greater Accra; Ghana
Official Website: https://www.siclife-gh.com/en/contact/head-office
- ALLIANZ INSURANCE COMPANY
Head Office Address: Lexta Square, No. 79 Road,Ebony Crescent (Off the Olusegun Obasanjo Highway, Achimota, Ghana
Phone: +233 30 276 4893
Official Website: https://www.allianz.com
However, further and proper investigations about these companies should be carried out before making an agreement or signing a deal with any of the companies.
Before indenturing into a discussion of this main topic of the full list of insurance companies in Ghana, it will be nice if we will know some basic facts about Ghana as a country where all these insurance companies are located.
Ghana is one of the countries that is located inside the African Continent which is the second-largest continent in the world by population. It is on the Eastern part of African which has boundaries with these countries; Togo and Nigeria to its west and others. Christian Religion is predominantly practiced in Ghana though there are other religions like Islamic Religion, Hindu Religion, and others. The name of the currency been used in Ghana is Cedes. The largest city in Ghana in Kumasi. The English language is the official language commonly used in Ghana though there are other languages there. The capital city of Ghana in Accra.
Types Of Insurance Companies In Ghana
- Life Insurance Products
- Non-Life Insurance Products
- Composite Insurance Products
- Re-Insurance Products
- And Others
A premium is the name of the funds that are generated by an insurance company which is invested immediately in government stocks and the securities. Through massive investments which leads to a large capital formation serves as a device through which there are opportunities for employment. The overall economic development of a nation is achieved through the utilization of funds from the development of industries; therefore, the insurance company is a crucial source of capital formation.
The insurance company has many principles which one of them is the spreading of risks between the insured and the insurer, the insured is always rewarded or compensated through the funds called the premium he paid to the insurer. An insurance company through life insurance encourages systematic savings leading to an investment mode.
Promotion of trade and commercial activities, mitigation of loss and the stability of finance are the necessary processes that lead to massive economic growth and development which an insurance company has encouraged.
From all these illustrations explained above, one can confidently say that an insurance company is a well-known company that is assigned to the provision of a cover that serves as compensation due to fire, injury, loss, hardship, damages or treatment in exchange of funds known as premium payments generated.
THE PRINCIPLES OF INSURANCE COMPANY:
There are seven basic principles of an insurance company which the participants inside the insurance company like the insurer, the insured, the third party which is the underwriter and the insurance company agents called the broker must abide strictly. Those seven principles inside the insurance company are as follows:
- Principle of Contribution
- Principle of Subrogation
- The principle of insurable interest
- Principle of indemnity
- The principle of Utmost Good Faith
- The principle of Insurable Interest
- The principle of Nearest Cause.
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CONCLUSION ON THE LIST OF INSURANCE COMPANIES IN GHANA
In summarizing these write up on the list of insurance companies in Ghana, it is worthy to note that it is very necessary for one to be part of insurance company neither as an insurer or a third party because not only it serves as a source of income to a given nation due to the investment of funds generated in establishment of an industries which in turn reduces the unemployment of a country but also it serves as a cover against the unforeseen contingencies like the demise of the insured, fire or marine in the future.
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