The President of the Insurance Brokers Association of Ghana, Stephen Kwarteng Yeboah, says the broker segment of Ghana’s insurance industry is the hardest hit by growing state interference.

Speaking on PM Express on Joy News on Tuesday, he described the situation as dire, warning that the trend is undermining brokers' role.

His comments come amid rising concern about political influence in the sector.

At the association's annual conference in Accra on March 26, Sam Jonah warned of a “deeply corrosive” crisis facing the industry, driven by interference, unethical conduct, and systemic distortions.

Mr Yeboah said the issue is more severe within the broker space.

“And as I tell you, we are even talking about this directive from SIGA to the insurance industry, when you come to the broker sector, it’s worse, it is absolutely terrible,” he said.

He linked the situation to a broader environment where political affiliation is increasingly seen as a factor in doing business.

Red also: Sir Sam Jonah slams political interference in insurance industry

“So you said that I caused this problem, but I actually didn’t. Regarding the conference, Sam Jonah spoke on a number of topics. The topic we gave him was to talk about how to build resilience in the sociopolitical environment we find ourselves in, because we’ve seen that our nation is so polarised.

"Hitherto, we didn’t use to have this level of polarisation, but it’s crept into the insurance industry too. Now you need to have either a blue or green hat to be able to do insurance business in Ghana, and that’s not healthy.”

He said the concerns raised at the conference reflect a broader shift within the industry.

“So Sam Jonah spoke about a number of things. He spoke about the geopolitical issues, and then he being a player in the industry… he started insurance company…we were actually also very shocked with the level of knowledge that he had in the industry. So he actually emphasised that aspect.”

Mr Yeboah maintained that the increasing politicisation is distorting competition and weakening professionalism across the sector, with brokers facing the most intense pressure.