The president of the Insurance Brokers Association of Ghana (IBAG), Stephen Kwarteng Yeboah, has warned that Ghana’s insurance industry is becoming dangerously politicised.

He was emphatic that survival is increasingly tied to political affiliation.

His comments follow concerns raised by Sam Jonah about what he described as a “deeply corrosive” crisis in the sector, driven by political interference and unethical practices.

Speaking at IBAG’s annual conference in Accra on March 26, the veteran business leader cautioned that the industry's integrity is under serious threat.

Speaking on PM Express on Joy News on Tuesday, Mr Yeboah said the concerns raised at the conference reflect a worrying reality within the industry.

“So you said that I caused this problem, but I actually didn’t. Regarding the conference, Sam Jonah spoke on a number of topics.

"The topic that we gave him was to talk about how to build resilience in a sociopolitical environment that we find ourselves in, because we’ve seen that our nation is so polarised,” he said.

Read also: Sir Sam Jonah slams political interference in insurance industry

He noted that the deepening political divisions in the country are now affecting how business is conducted in the insurance space.

“Hitherto, we didn’t use to have this level of polarisation, but it’s crept into the insurance industry too. Now you need to have either a blue or green hat to be able to do insurance business in Ghana, and that’s not healthy,” he stated.

Mr Yeboah said even industry players were struck by the depth of insight Sir Sam Jonah shared during the conference.

“So Sam Jonah spoke about a number of things. He spoke about the geopolitical issues, and then he being a player in the industry… he started insurance company…we were actually also very shocked with the level of knowledge that he had in the industry. So he actually emphasised that aspect,” he said.

He warned that the situation is even more difficult within the brokerage segment of the industry.

“And as I tell you, we are even talking about this directive from SIGA to the insurance industry, when you come to the broker sector, it’s worse, it is absolutely terrible,” he added.

Mr Yeboah’s remarks highlight growing anxiety within Ghana’s insurance ecosystem, as industry leaders warn that political polarisation is eroding professionalism and threatening the sector’s long-term stability.