SIC Insurance Company Ltd has set its sight on the larger ECOWAS market and plans to establish branches in ECOWAS states, starting with the English-speaking countries in the sub-region.The move is a logical follow-up to the recent successful floatation of the erstwhile State Insurance Company on the Ghana Stock Exchange.
The Managing Director of SIC Insurance, Mr Peter Osei Duah , made this known in Kumasi at a get-together for staff of SIC Insurance branches in the Ashanti Region.
Mr Duah conceded that SIC Insurance would require an immense infusion of financial resources to move into the sub-regional market and operate successfully.
To that end, the company would have to raise funds through the Ghana Stock Exchange or seek funding from international financial sources to embark on the programme.
Mr Duah commended the staff of his company for their support and hard work since the coming into office of a new management and board in 2001 and gave the assurance that the management would continue to enhance capacity of its staff to enable SIC Insurance to face the new challenges.
He said with Ghana at the threshold of commercial oil exploration activity, SIC Insurance would have to develop its human resource capacity to handle risks associated with the oil industry.
The SIC Insurance Area Manager in Kumasi who is also in charge of the northern sector, Baffour Otuo Akyeampong, noted that the insurance sector had become very competitive and urged the staff to put in their best in order to maintain the image and status of the company as the leader in the insurance sector.
Eleven staff members who had served the company for between 15 and 30 years were honoured at the get-together.