Media Centre

News & Events


Driver Unions Endorse NIC’s Move to Eradicate Fake Motor Insurance

Posted

The leadership of transport unions has endorsed the initiative by the insurance regulator to implement an electronic insurance database, to check the menace of fake insurance stickers. The Driver Unions who were moved by their excitement at the news, recently paid a courtesy call on the Commissioner of Insurance at the National Insurance Commission, to […]

NIC shuts down ZETA Insurance Brokers for operating illegally

Posted

The National Insurance Commission (NIC) has shut down ZETA Insurance Brokers for operating illegally. According to the commission, the said company has been operating for the past five years in Accra. Addressing the media on Thursday, the Commissioner of Insurance, Justice Yaw Ofori says the Police are currently investigating the matter. “We did our investigation […]

NIC allays fears over drop in insurance penetration rate

Posted

The National Insurance Commission (NIC) has allayed fears that the decline in insurance penetration rate will hurt the sector. According to the Commission’s 2018 report, the sector’s penetration rate dropped from 1.12 per cent to 1% – a situation the NIC attributed to the rebasing of the economy. Addressing the media at this year’s Ghana […]

PRESS RELEASE: New Minimum Capital requirements (MCR) for Insurance Entities

Posted

As part of on- going efforts to stabilise, strengthen and enhance the capacity of the financial services sector to support socio-economic development, the National Insurance Commission has revised the Minimum Capital Requirements of all insurance entities. The mandate of the Commission is to protect the interest of policyholders by ensuring a financially strong Insurance industry. […]

NOTICE: Review of Fees Payable to the National Insurance Commission (NIC)

Posted

Pursuant to section 21, 45, and 114 of the Insurance Act 2016, Act 724 obligating all Insurers, Reinsurers and Intermediaries to pay for some of the specific services provided by the National Insurance Commission (NIC), the NIC presents the revised schedule of fees. Please note there is going to be annual reviews of fees after […]

NIC Verses Swaytel Insurance Company Limited (an unlicenced Company)

Posted

The general public is being informed that the trial of the person accused of operating an unlicensed insurance company, Swaytel Insurance Company Limited, in Swedru has ended. The accused person, Emmanuel Kwame Adjei, was found guilty and convicted by the court on all seven counts, including operating an unlicenced insurance company, forging of fake Motor […]

NIC to have Central Database for Authenticating Insurance Policies

Posted

As part of measures to deal with the problem of fake insurance certificates, the National Insurance Commission (NIC) is to roll out a central database system where all policies issued by insurance companies would reflect to ensure easy verification. “We are going to have a system whereby it will be easy for the police to […]

2018 Industry Training Programmes / Workshops

Posted

The National Insurance Commission (NIC) in its bid to promote efficiency and the development of the industry will be organizing a series of training programmes/workshops targeted at the key functionaries in the industry. A letter has been sent to the industry to that effect. Please note that some of the workshops will be residential, whilst […]

CEOs and Directors Workshop Organized by the NIC

Posted

The National Insurance Commission (NIC) in conjunction with the Ghana Insurance College (GIC), held a three-day residential workshop on Risk Management and Corporate Governance at the Coconut Grove Beach Hotel from 4th to 6th April, 2018. The workshop, which is the first of the NIC’s 2018 training programmes for the industry, was for Insurance and […]

PUBLIC NOTICE: Swaytel Insurance Company Limited

Posted

It has come to the attention of the National Insurance Commission (NIC) that, a company by name Swaytel Insurance Company Limited is operating an insurance business without insurance licence. The NIC wishes to inform the public that it has not licensed any company by name Swaytel Insurance Company Limited and therefore the said company is […]