SIC Life, the leading Life Insurance Company in Ghana has announced 83 percent dividend to be paid to shareholders.

This was after the company recorded a profit after tax of GH¢9,288,162 representing an increase in profitability of 83%.

This was disclosed by Board Chairman, Professor Joshua Yindenaba Abor at the company’s seventh Annual General Meeting (AGM) in Accra, Thursday.

He said the increase in dividend as promised by the Board last year is a result of the hard work and dedication of Management and staff at SIC Life.

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.

On the financial performance, the Board Chairman said the company recorded a total premium income of GH¢ 127,244,627 showing a growth rate of 27% over that of 2012.

He indicated that in spite of the economic challenges, SIC Life will remain committed to its vision of being “the leading most dependable and customer friendly Life Insurance Company” in the Ghanaian Insurance industry.

Prof Yindenaba Abor assured their resolve to continue to reap greater dividends for its stakeholders and retain its position as the number one life assurance company in Ghana.

On his part, the Managing Director of SIC Life Insurance, Aaron Issa Anafure who was optimistic about the economic outlook for 2014 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 a growth in our business and thus become more profitable so as to enhance returns for our stakeholders” he stated.

Mr. Anafure thanked the Board of Directors and shareholders for the confidence they reposed in the management and staff of SIC Life which motivates them to work harder.