SIC Life, the leading Life Insurance Company in Ghana has announced a 33.32 percent dividend to be paid to shareholders.

This was disclosed by Board Chairman for SIC Life, Mr. John Owusu Agyeman at the company's 8th Annual General Meeting (AGM) in Accra.

The annual AGM is to present a general outlook of the company to shareholders and also declare the financial statement in the year under review.

It will also offer an opportunity for management and shareholders of SIC Life to dialogue on the way forward for the company.

Speaking at the AGM, Board Chairman, Professor Joshua Yindenaba Abor said the increase in dividend as promise by the Board last year is a result of the hard work and dedication of Management and Staff of SIC Life.

He indicated that in spite of challenging economic conditions, SIC Life will continue to remain consummate and proficient in their service delivery this year.

“We continue to be customer-focused and friendly, a good social partner and corporate citizen”.

On the financial performance, Managing Director of SIC Life, Aaron Issa Anafure said the company recorded a total premium income of GHȼ 158,323,730 from the combined Core Life and Sika Plan businesses showing a growth of 24.42%.

He noted that the company’s micro-finance product dubbed ‘Sikaplan’ which has been operating for over 10 years mobilised a total of GHȼ 207,209,128.00 million representing 224% growth over the GHȼ 14,028,489.00 in 2009.

Total claim payout for the same period Mr. Anafure stated was GHȼ 93,770,949 million, representing 59% of actual premium income.

He was however optimistic about the economic outlook for 2015 and assured shareholders of an improvement in their performance to achieve higher productivity to pay bigger dividends in the years ahead.

“We are confident that our strategy will lead to the desired growth in our business and thus become more profitable so as to enhance returns for our shareholders” he added.

Mr. Anafure said with hard work and commitment to duty SIC Life will continue to reap greater dividends for stakeholders and retain its position as the leader in life insurance industry in Ghana.