19/11/2022

Insurance Companies In Ghana: List Of Top 50 Ghana Insurers

Ghana has lots of insurance companies that are in good standing in the country. The National Insurance Company (NIC) is the supervisory and regulatory body responsible for insurance companies in Ghana. Ghana has a total of 3 reinsurance companies, 22 life insurance companies, and 29 Non-life insurance companies. When going to investments in a life Insurance Company, it is usually advised that you go for a fixed deposit investment. You also make benefit from the Mutual funds, shares, treasury bills, and bonds of the insurance company.

The oldest insurance company in Ghana is Enterprise Insurance Company. Enterprise Insurance Company was founded in 1924 and has a subsidiary, the Enterprise Group, which was incorporated on November 24th, 2008, as a holding of the company’s main body. Enterprise Insurance Company is the leading Life Insurance company in Ghana just as it is the oldest.

List Of Insurance Companies In Ghana

List Of ReInsurance Companies In Ghana

Ghana Reinsurance Company
GN Reinsurance Company Limited
Mainstream Reinsurance

List Of Life Insurance Companies In Ghana

Life Companies

A-Plus Life Assurance Company
Africa Life Insurance Companies in Ghana
Allianz Life Insurance Company
Beige Assurance
Donewell Life Insurance Company
Enterprise Life Assurance Company
First Insurance Company
Ghana Life Insurance Company
Ghana Union Assurance Life Company
Glico Life Insurance Ghana Limited
GN Life Assurance Company Limited
Hollard Life Assurance Company Limited
Metropolitan Ghana Life Insurance Company Ghana
Old Mutual Assurance Limited Ghana
Phoenix Life Insurance Companies in Ghana
Prudential Life Insurance Company
Quality Life Assurance Company Ghana Limited
Saham Life Insurance Company Limited
SUC Life Insurance Company Ghana
Starlife Assurance Company Ghana Limited
UT Life Insurance Ghana Company Limited
Vanguard Life Assurance

List Of Non-Life Insurance Companies In Ghana

Non Insurers

Activa International Insurance Company
Alliance Insurance Company Ghana
Best Assurance Company Ghana
Donewell Insurance Company Ghana
Enterprise Insurance Company Ghana
Ghana Union Assurance Company
Glico Life Insurance Company
GN Insurance Company Ghana Limited
Heritage Energy Insurance Company Ghana
Hollard Life Insurance Company
Imperial General Assurance Company
Loyalty Insurance Company Ghana
Millennium Insurance Company Ghana Limited
Multi Insurance Company Ghana Limited
NSIA Life Insurance Company Ghana
Phoenix Life Insurance Company
Prime Insurance Company Ghana Limited
Priority Insurance Company
Provident Insurance Company
Quality Life Insurance Companies Ghana
Regency NEM Insurance Company
Saham Insurance Company
SIC Insurance Ghana Limited
Serene Insurance Company
Star Assurance Company
Unique Insurance Company
Vanguard Insurance Company
Wapic Insurance Company
SUNU Assurance Company Ghana

List Of Life Insurance Companies In Ghana Based On 2019 Turnover and Life Shares

Life insurers in Ghana

Enterprise Life

Turnover: GHS 436,674

Life shares: 26.43%

SIC Life

Turnover: GHS 354,583

Life shares: 21.47%

Starlife

Turnover: GHS 260,937

Life shares: 15.80%

Glico Life

Turnover: GHS 120,454

Life shares: 7.29%

Prudential Life

Turnover: GHS 116,113

Life shares: 7.03%

Old mutual

Turnover: GHS 82,113

Life shares: 4.97%

Metropolitan Life

Turnover: GHS 70,110

Life shares: 4.24%

Milife

Turnover: GHS 48,636

Life shares: 2.94%

Ghana Life

Turnover: GHS 21,167

Life shares: 1.28%

Saham Life

Turnover: GHS 19,850

Life shares: 1.20%

Phoenix Life

Turnover: GHS 18,978

Life shares: 1.15%

Allianz Life

Turnover: GHS 18,557

Life shares: 1.12%

Quality Life

Turnover: GHS 18,013

Life shares: 1.09%

Vanguard Life

Turnover: GHS 17,459

Life shares: 1.06%

Donewell Life

Turnover: GHS 16,155

Life shares: 0.98%

GUA Life

Turnover: GHS 10,518

Life shares: 0.64%

GN Life Assurance

Turnover: GHS 9,715

Life shares: 0.59%

Hollard Life

Turnover: GHS 6,283

Life shares: 0.41%

First Insurance

Turnover: GHS 3,119

Life shares: 0.19%

Exceed Life

Turnover: GHS 1,893

Life shares: 0.12%

From the above, the total life market value is GHS 1,651,886 with 100% shares.

List Of Non-Life Insurance Companies In Ghana Based On 2019 Turnover

SIC Insurance

Turnover: GHS 211,514

Life shares: 11.53%

Enterprise Insurance

Turnover: GHS 207,059

Life shares: 11.29%

Hollard Insurance

Turnover: GHS 123,560

Life shares: 6.74%

Star Assurance

Turnover: GHS 121,653

Life shares: 6.63%

Glico General

Turnover: GHS 113,795

Life shares: 6.20%

Vanguard Assurance

Turnover: GHS 104,730

Life shares: 5.71%

GUA Insurance

Turnover: GHS 92,491

Life shares: 5.04%

Activa International Insurance

Turnover: GHS 74,353

Life shares: 4.05%

Donewell Insurance

Turnover: GHS 58,439

Life shares: 3.19%

Phoenix Insurance

Turnover: GHS 52,694

Life shares: 2.87%

SUNU Insurance

Turnover: GHS 47,528

Life shares: 2.59%

Quality Insurance

Turnover: GHS 44,352

Life shares: 2.42%

Allianz Insurance

Turnover: GHS 38,040

Life shares: 2.07%

Saham Insurance

Turnover: GHS 34,092

Life shares: 1.86%

Prime Insurance

Turnover: GHS 33,816

Life shares: 1.84%

RegencyNEM Insurance

Turnover: GHS 30,162

Life shares: 1.65%

Providence Insurance Company LTD

Turnover: GHS 27,669

Life shares: 1.51%

Heritage Energy Insurance

Turnover: GHS 24,140

Life shares: 1.32%

Hapic Insurance

Turnover: GHS 23,290

Life shares: 1.27%

Priority Insurance

Turnover: GHS 17,403

Life shares: 0.95%

Millennium Insurance

Turnover: GHS 16,929

Life shares: 0.92%

NSIA Ghana Insurance

Turnover: GHS 13,816

Life shares: 0.75%

Unique Insurance

Turnover: GHS 13,555

Life shares: 0.74%

Best Assurance

Turnover: GHS 13,153

Life shares: 0.72%

Imperial General

Turnover: GHS 10,689

Life shares: 0.58%

Loyalty Insurance

Turnover: GHS 8,137

Life shares: 0.44%

Serene Insurance

Turnover: GHS 6,130

Life shares: 0.33%

Bedrock Insurance

Turnover: GHS 2,313

Life shares: 0.13%

Multi Insurance

Turnover: GHS 2,073

Life shares: 0.11%

Estimating from the above values; the

The total turnover of Non-life companies in Ghana is 1,567,575

The total turnover of the Ghana Oil and Gas Insurance Pool (GOGIP) is 266,930

The total turnover of Non-Life Markets in Ghana is 1,834,504

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