Africa's insurance giant, Activa Assurances of Cameroon has taken over Global Alliance Insurance Company, rebranding it as Activa International Insurance Company (Ghana) Limited.
The take-over was largely influenced by the fact that within three years of its establishment in 2005, Global Alliance had climbed to the 11th position in the insurance industry and won the Best Growing Insurance Company Award in Ghana.
The re-branding has re-awakened the insurance company as fresh capital has been injected into it to meet the challenges in the industry.
Speaking at the launch, Stephen Kyerematen, Managing Director of the company, said Activa Ghana's vision is to become one of the top performers in Africa in the distant future.
He said for now the company will rely on client orientation, harnessing of employee intelligence and efficient use of technology in support of client satisfaction, in order to be among the top three companies in Ghana by 2012.
Commenting on the take-over, Mr Oteng Gyasi, president of Association of Ghana Industries (AGI), praised Activa Cameroon for being the first African insurance company to cross boundaries and language barriers to operate in other countries including Ghana.
He said Ghana's insurance market is very dynamic and assured that it can meet the French insurance premium trend without difficulty.
Mr Gyasi said the good part of insurance is how best it can cover risk involved not the premium.
He urged Activa to join the AGI to enhance its working relation with other companies, in the country.