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04.05.2012 Business & Finance

SIC Life holds 5th Annual General Meeting

By Ghana||Adwoa Gyasiwaa
SIC Life holds 5th Annual General Meeting
LISTEN MAY 4, 2012

SIC Life, the leading Life Insurance Company in Ghana has announced a 30 percent dividend to be paid to shareholders.

This was disclosed by Board Chairman for SIC Life,Mr. John Owusu Agyeman at the company's fifth Annual General Meeting (AGM) in Accra.

The annual AGM is to present a general outlook of the company to shareholders and also declare the financial statement in the year under review.

It will also offer an opportunity for management and shareholders of SIC Life to dialogue on the way forward for the company.

Speaking at the AGM, the Board Charmain assured shareholders of pragmatic efforts by the Board and management of the company to ensure that the company improves upon its performance and also provide a conducive environment for workers.

On the financial performance, Mr. Owusu Agyeman said the company recorded a profit after tax of GH¢4,051,407 and a positive balance of GH¢1,741,887 in 2011.

He stressed that their objective is for SIC Life to continue to reap greater dividends for its stakeholders and retain its position as the number one life assurance company in Ghana.

“We as a Board shall continue to endeavour to make our business sustainable in achieving corporate objectives by taking care to monitor the implementation of our strategic plans” he said.

Mr. Owusu Agyeman indicated that although the influx of many Life Insurance companies in the country has brought about stiff competition, SIC Life as the leader in the Life insurance industry will continue to provide quality services which are customer focused in a creative and professional manner.

On his part, the Chief Executive Officer of SIC Life Insurance, Aaron Issa Anaeure assured shareholders of an improvement in their performance and expressed the hope that they would pay bigger dividends in the years ahead.

In an interview with, he said the company has introduced three new policies and was very optimistic it will excel.

The policies which include: School fees, Endowment and Funeral policy which gives an opportunity for clients to plan for the future according to the CEO will increase the company's market share.

He noted that the company's adept knowledge and understanding of the market, well trained and motivated staff, ability to pay claims within one hours and outstanding market performance as well as successful re-branding are key attributes that make SIC Life stand tall among its competitors in the industry.

“SIC Life us committed to customer service as a focal point in its Marketing operations and has accordingly implemented the One-Stop Insurance Halls in all Area offices to handle all issues in relation to Claims, customer complaints and inquiries”.

Mr. Anaeure thanked the Board of Directors and shareholders for the confidence they reposed in the management and staff of SIC Life which motivates them to work harder.

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