Mahama appoints Dr. Abiba Zakariah as new Commissioner of NIC

President John Mahama has appointed Dr. Abiba Zakariah as the acting Commissioner of the National Insurance Commission (NIC).

A seasoned professional in the insurance sector, she will be responsible for overseeing Ghana’s insurance regulatory framework.

Dr. Zakariah officially assumed office on Monday, February 17, 2025, following her appointment last week. She takes over from Michael Andoh, who had served in an acting capacity since April 2023.

With over two decades of experience in the insurance industry, Dr. Zakariah has held key leadership roles, including her tenure as Group Chief Operating Officer of WAICA Reinsurance Corporation, a company owned by members of the West African Insurance Companies Association. She stepped down from the role in 2024.

She is also the founder and Managing Director of Strategist Consortium, a management consulting firm. A Chartered Insurer and a Fellow of both the Chartered Insurance Institute (UK) and the Institute of Risk Management Professionals of Ghana, she brings a wealth of expertise to her new position.

Dr. Zakariah holds a Bachelor of Science degree and an MBA from the University of Ghana, Legon, and earned a PhD in Management Studies from the Swiss Management Centre. She began her career at SIC Insurance Company, formerly known as the State Insurance Corporation.

As acting Commissioner, she is expected to introduce policies and incentives to drive broader insurance coverage in Ghana. Additionally, with growing calls for a review of the minimum capital requirement for insurance companies, she will play a key role in leading discussions and implementing policy changes aimed at strengthening the financial stability of industry players.

Her appointment marks a new phase for the NIC, with expectations for reforms that will enhance regulation, boost investor confidence, and expand insurance accessibility nationwide.