The immediate past Managing Director of SIC Insurance Company Limited, Hollistar Duah-Yentumi, has reportedly refused to hand over to the newly appointed Acting MD, James Agyenim-Boateng, weeks after his appointment by President John Mahama.

Investigations reveal that not only has the former MD refused to facilitate the transition, but she has also locked the Managing Director’s office, where the new Acting MD is supposed to operate from, and absconded with the office keys.

President Mahama appointed Mr Agyenim-Boateng as Acting MD of SIC Insurance Company Limited on Friday, 24th January 2025, replacing Ms Duah-Yentumi, who had been appointed by the previous NPP administration.

Further checks indicate that on Thursday, 30th January, the new Acting MD visited the company’s headquarters to introduce himself to SIC management, but Ms Duah-Yentumi failed to attend the meeting.

In most institutions, such meetings serve as platforms for the outgoing and incoming Chief Executive Officers to ensure a smooth transition of leadership. However, the situation at SIC Insurance Company Limited has been markedly different, as the former MD has refused to cooperate.

Mr Agyenim-Boateng told Accra-based Citi FM that “It has become apparent that the real difficulty regarding why I have not been able to access the office is because the person before me, the predecessor has actually locked up the offices and bolted with the keys. It is strange."

“As I speak to you I haven’t seen handing over notes of this outgone MD. I have see the handing notes of the MD before her.”

Some employees have expressed disappointment over her conduct, describing it as disgraceful.

“We fall under the Ministry of Finance, and the Minister has officially communicated the appointment of Mr James Agyenim-Boateng as our new MD. I do not see why the former MD is refusing to hand over. She was appointed by the previous NPP administration, and as there is a change in government, everyone here understands that leadership changes are expected. What is she holding on to? It is shameful, and she must immediately hand over,” an anonymous staff member stated.

According to the employee, the delay in the transition is negatively affecting the company’s operations. He stressed the urgency of the situation, calling on Ms Duah-Yentumi to swiftly hand over to Mr Agyenim-Boateng so that he can begin implementing his vision for the state-owned insurance company.