The immediate past Managing Director of SIC Insurance Company Limited, Hollistar Duah-Yentumi, has withdrawn her court application seeking to halt the termination of her appointment by President John Mahama.

According to JoyBusiness, this decision follows a high-stakes meeting held earlier today, February 6, 2025, between the key parties involved in the dispute.

Sources indicate that an agreement has been reached to resolve the matter out of court.

• Read also: Ex-SIC MD challenges dismissal in court; rejects Agyenim-Boateng as successor

As part of this resolution, Madam Duah-Yentumi has also withdrawn her lawsuit challenging the appointment of James Agyenim-Boateng as the new Managing Director of SIC Insurance.

The former MD had initially taken legal action against the company and its newly appointed Acting MD, citing unfair termination and disrespect for corporate governance structures.

In her suit, filed on February 4, Duah-Yentumi argued that her appointment was contractually secured for a four-year term, set to expire on January 1, 2028.

She maintained that any changes to her tenure must be approved by the company’s Board of Directors or through a resolution by shareholders at an Annual General Meeting.

With the lawsuit now withdrawn, both parties are expected to finalize their settlement terms outside of the courtroom.

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