Audio By Carbonatix
Star Assurance Company has for the second time been adjudged the Insurance Company of the year 2012, by the Chartered Institute of Marketing Ghana (CIM).
Star Assurance was awarded the Insurance Company of the year in 2011 and was also adjudged number one in the insurance industry and number 28 on the list of the prestigious “Ghana Club 100” - a listing of the top 100 blue chip companies in Ghana in 2003.
The company continues to soar in terms of achievements in the insurance industry as it was ranked second in the general insurance industry by Total Assets and Gross Premium Income respectively, according to the National Insurance Commission’s (NIC) 2011 Annual Report.
The year 2012 saw very significant growth in Star Assurance’s gross premium production. Gross Premiums grew from a 2011 level of GH¢35.8 million to GH¢61.8 million, representing 72% growth. The company’s underwriting profit also grew from GH¢3.2 million in 2011, to GH¢4.1million, representing 28% growth. However, this does not take account of finance cost. Investment Income for 2012 grew by 33% over the 2011 figure of GH¢1.4 million to GH¢1.9 million.
In 2012 the top six classes of insurance that delivered the most premium income and the percentage of total premium income they provided were: Accident (46.10%), Motor (30.97%), Fire (11.30%), Marine (5.41%), Aviation (5.24%), and Travel (0.98%)
The company with its head office in Accra has nine branch offices across seven out of the country's 10 regions. These are Greater Accra, Ashanti, Eastern, Brong-Ahafo, Western, Volta and the Northern regions. The company operates contact offices in Central, Upper West and Upper East regions. It has successfully operated for twenty-eight years and currently the second biggest insurance company in the country. The company's capability in handling all classes of insurance is reflected in the skills and expertise of its staff. The company's management team is made up of seasoned chartered insurers, marketers, accountants and lawyers, most of them with over 15 years experience in the insurance industry.
The company’s mission is to optimise resources in order to give clients increased satisfaction, optimised human potential and shareholders maximise returns for Shareholders. This, the company works to achieve by making customer satisfaction the topmost priority, as well as providing a congenial work environment for its staff.
Star Assurance is a fast growing, well-managed company, offering competitive insurance products with a service delivery described as excellent by its clients.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
New Passport Office opens in Techiman, bringing vital services closer to Bono East residents
17 minutes -
Anthony Hopkins shares advice as he celebrates 50 years of sobriety
34 minutes -
KTU Radio wins international award for its unique programme on World College Radio Day
40 minutes -
German court jails man for drugging, raping and filming wife for years
43 minutes -
Alhaji Agongo builds lifeline facility for Ghana Police Hospital’s ‘Unknown Patients’
57 minutes -
Removal of Chief Justice Torkonoo had economic implications – Samson Lardy Anyenini
59 minutes -
Ronaldo will not retire until he scores 1,000 goals
1 hour -
Amerado shuts down Okese Park with third edition of My Motherland Concert in Ejisu
1 hour -
Mahama visits Kufuor at Peduase to extend Christmas and New Year wishes
1 hour -
Man City close to agreeing terms Bournemouth to sign Semenyo
1 hour -
Time is right to change Man Utd formation – Amorim
2 hours -
Akufo-Addo’s record not entirely negative despite economic challenges – Anyenini
2 hours -
Dafeamekpor chairs Kenpong Travel’s 2026 World Cup Travels management team
2 hours -
Group petitions OSP, EOCO,AG, over alleged unlawful role of unlicensed firm in GoldBod operations
3 hours -
Ghana in Praise 2026 set to open new year with national worship gathering
3 hours
