Imperial General Assurance says it is working positively to increase value added products to its customers.

The Deputy Managing Director for the company, Harry Ofori-Atta stated that the company will continue to bring to the market innovative products.

Speaking to Joy Business at the commissioning of the company's new head office in Labone, Mr. Ofori-Atta maintained that the company is ready to work tirelessly to increase its market penetration in the country.

“We are having our new office, which means we are ready for business and we’ve done this over the years. In that regard, we are ready to change the status quo,”he said.

At the commissioning of the head office, the Commissioner of the National Insurance Commission (NIC), Dr. Justice Ofori indicated that the solvency position of the sector has improved.

According to him, players within the sector should put up more measures to increase insurance penetration in Ghana.

He maintained that the NIC will continue to work to protect policy holders and players to ensure the growth of the sector.

“Our solvency position has improved and this is due to the recapitalization of the sector. Sector players will continue to rise as we train, grow and strengthen the market”, he said.

He added that the increased transparency and ease of verifying authenticity in claims and policies will build confidence in insurance more broadly.

“As an industry let’s ensure transparency in our operations to build more confidence within the sector to improve insurance penetration”, he stressed.

The Minister for Trade and Industry, Alan Kyerematen also pledged government’s support to expand the sector.

“This is a good industry and I believe we have to work more to ensure the growth of the sector. Government is willing to support the insurance industry to regain its feet”, he said.