State Insurance Company (SIC) has been rated the best in claims payment in Ghana by the Global Credit Rating Company. The insurance company obtained an AA rating, the second highest in the industry. The rating means SIC is capitalized well enough to pay claims on time and under any circumstance. Head of Corporate Planning at SIC, Isaac Tettey, tells Joy Business the rating distinguishes SIC from others in the industry. He however concedes the industry as a whole is not capitalized enough to collectively insure risks in the emerging oil industry. “Majority of members of the industry are not fully capitalized as one would wish to position us to be able to retain the amount of outflow of foreign currency or premiums outside. So I have been a great advocate of the fact that the industry must take steps very quickly…in order to increase [our] capital base,” he said. Source: Joy Business/Myjoyonline.com/Ghana