Economy

GIA elects new president

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The Ghana Insurers Association (GIA) has elected new executives to helm the affairs of the association for the next two years. Kwame Gazo Agbenyendzie, Managing Director, Metropolitan Insurance Company (MET), has been elected as the new President. Eight council members, four each for general insurance and life assurance, were also elected. Members of the newly elected General Insurance Council are Kofi Duffuor, Managing Director, Star Assurance Company; Francisca Karikari, Managing Director, GLICO General, Gustav Sialle, Managing Director, Ghana Reinsurance Company, and Steve Kyeremanteng, Managing Director, Activa International Insurance Company. The members of the Life Assurance Council include C.C Bruce, Managing Director, Enterprise Assurance Company Limited (ELAC); Aaron Issa Anafure, Managing Director, SIC life; and Ivan Aveyeveh, Managing Director, Ghana Life. The new President, in his acceptance speech, bestowed tributes to the high performance of the immediate past President. “Let me at this stage express my appreciation to our immediate past President Mr. Ben Acolatse, whose contribution to the development of the Association deserves commendation. I also recognise the contribution of the members of the outgoing Board. We should also recognise the immense contribution of all previous Presidents and Boards who laid a strong foundation on which successive Boards have built,” he said. He enumerated his vision for the Association, saying he wants to see a strong, united, and proactive Association that anticipates and initiates actions rather than react to events. Agbenyedzie said GIA has strong human and financial capital that should not be ignored on the national stage. “This Board will work with the regulator, National Insurance Commission (NIC), Ghana Insurance Brokers Association (GIBA), Insurance Institute of Ghana, and other bodies to ensure that the Association's views and contributions to national development are heard and acknowledged.” According to the President, there are serious, issues requiring immediate attention including the Ghana Agricultural Insurance Project, Ghana Oil and Gas Project, and Head Office Project in addition to issues with the Ghana Revenue Authority. Other issues include scales and benefits relating to third-party insurance, and implementation of company fire insurance. The rest are the new Pensions Act and related matters, management of premium debtors and the new insurance bill under discussion.

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