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Non-life insurance companies in Ghana
In thousands
| Companies | 2022 turnover | 2021 turnover | 2021-2022 evolution (1) | 2022 shares | ||
|---|---|---|---|---|---|---|
| GHS | USD | GHS | USD | |||
| Enterprise Insurance | 432 382 | 41 928 | 335 170 | 54 234 | 29.00% | 7.08% |
| SIC Insurance | 370 524 | 35 930 | 276 224 | 44 696 | 34.14% | 6.07% |
| Hollard Insurance Ghana | 272 537 | 26 428 | 212 492 | 34 383 | 28.26% | 4.47% |
| Glico General Insurance | 252 145 | 24 450 | 172 911 | 27 979 | 45.82% | 4.13% |
| Star Assurance | 231 232 | 22 423 | 192 372 | 31 128 | 20.20% | 3.79% |
| Vanguard Assurance | 213 351 | 20 689 | 162 610 | 26 312 | 31.20% | 3.50% |
| Ghana Union Assurance | 192 430 | 18 660 | 140 910 | 22 801 | 36.56% | 3.15% |
| Activa International Insurance | 164 575 | 15 959 | 116 065 | 18 781 | 41.80% | 2.70% |
| Phoenix Insurance | 99 030 | 9 603 | 86 498 | 13 996 | 14.49% | 1.62% |
| Sanlam Insurance Ghana | 87 592 | 8 494 | 49 184 | 7 958 | 78.09% | 1.43% |
| Prime Insurance | 86 684 | 8 406 | 65 023 | 10 521 | 33.31% | 1.42% |
| Quality Insurance | 85 503 | 8 291 | 63 259 | 10 236 | 35.16% | 1.40% |
| Sunu Assurance | 83 740 | 8 120 | 66 620 | 10 780 | 25.70% | 1.37% |
| Provident Insurance | 70 113 | 6 799 | 53 110 | 8 594 | 32.01% | 1.15% |
| Allianz Insurance | 66 575 | 6 456 | 47 964 | 7 761 | 38.80% | 1.09% |
| Donewell Insurance | 63 176 | 6 126 | 52 909 | 8 561 | 19.41% | 1.03% |
| Serene Insurance | 60 426 | 5 859 | 43 364 | 7 017 | 39.35% | 0.99% |
| Priority Insurance | 48 201 | 4 674 | 40 906 | 6 619 | 17.83% | 0.79% |
| Imperial General Assurance | 38 787 | 3 761 | 25 079 | 4 058 | 54.66% | 0.64% |
| Millennium Insurance | 38 649 | 3 748 | 41 779 | 6 760 | -7.49% | 0.63% |
| Coronation Insurance Ghana | 32 199 | 3 122 | 24 597 | 3 980 | 30.91% | 0.53% |
| Unique Insurance | 32 007 | 3 104 | 24 148 | 3 907 | 32.55% | 0.52% |
| Loyalty Insurance | 30 356 | 2 943 | 20 457 | 3 310 | 48.39% | 0.50% |
| NSIA Ghana Insurance | 29 057 | 2 818 | 23 333 | 3 776 | 24.53% | 0.48% |
| Bedrock Insurance | 1 994 | 193 | 3 939 | 637 | -49.38% | 0.03% |
| Best Assurance | ND | ND | 20 853 | 3 374 | - | - |
| Total non-life | 3 083 265 | 298 984 | 2 361 776 | 382 159 | 30.55% | 50.51% |
Non-life insurance companies in Ghana
In thousands
| Companies | 2022 turnover | 2021 turnover | 2021-2022 evolution (1) | 2022 shares | ||
|---|---|---|---|---|---|---|
| GHS | USD | GHS | USD | |||
| Enterprise Life Assurance | 722 243 | 70 036 | 608 800 | 98 510 | 18.63% | 11.83% |
| SIC Life Insurance | 541 333 | 52 493 | 476 033 | 77 027 | 13.72% | 8.87% |
| StarLife Assurance | 537 900 | 52 160 | 411 798 | 66 633 | 30.62% | 8.81% |
| Prudential Life Insurance Ghana | 300 437 | 29 133 | 223 408 | 36 150 | 34.48% | 4.92% |
| Glico Life Insurance | 207 661 | 20 137 | 179 510 | 29 046 | 15.68% | 3.40% |
| MiLife Insurance | 203 207 | 19 705 | 134 301 | 21 731 | 51.31% | 3.33% |
| Old Mutual Assurance Ghana | 123 762 | 12 001 | 103 769 | 16 791 | 19.27% | 2.03% |
| Metropolitan Life Insurance Ghana | 110 498 | 10 715 | 117 140 | 18 954 | -5.67% | 1.81% |
| Allianz Life Insurance | 71 249 | 6 909 | 49 687 | 8 040 | 43.40% | 1.17% |
| Ghana Union Assurance Life (2) | 61 504 | 5 964 | 14 003 | 2 266 | 339.22% | 1.01% |
| Sanlam Life Insurance Ghana | 61 396 | 5 954 | 33 463 | 5 415 | 83.47% | 1.01% |
| Hollard Life Assurance | 38 180 | 3 702 | 20 875 | 3 378 | 82.90% | 0.62% |
| Donewell Life Insurance | 26 223 | 2 543 | 24 037 | 3 889 | 9.09% | 0.43% |
| Vanguard Life Assurance | 9 187 | 891 | 17 211 | 2 785 | -46.62% | 0.15% |
| First Insurance | 4 629 | 449 | 5 950 | 963 | -22.20% | 0.07% |
| GN Life Assurance | 1 804 | 175 | 2 324 | 376 | -22.38% | 0.03% |
| Exceed Life Assurance | - | - | 6 036 | 977 | - | - |
| Ghana Life Insurance | - | - | 16 761 | 2 712 | - | - |
| Phoenix Life Assurance | - | - | 41 174 | 6 662 | - | - |
| Quality Life Assurance | - | - | 27 068 | 4 380 | - | - |
| Total life | 3 021 213 | 292 967 | 2 513 348 | 406 685 | 20.21% | 49.49% |
(1) Growth rate in local currency
(2) In February 2022 Ghana Union Assurance Life merges with Phoenix Life Assurance
Source: National Insurance Commission (NIC)
Exchange rate as at 31/12/2022 : 1 GHS = 0.09697 USD ; as at 31/12/2021 : 1 GHS = 0.16181 USD
Read also | Ghana insurance market