By Elliot WILLIAMS
Fortnight ago, Ghana Reinsurance Company PLC – the largest reinsurer domiciled on the country, held the 16th edition of its annual Cedants Awards.
The event, hosted by the state-owned corporation at the plush Kempinski Hotel in Accra, honoured outstanding contributors to its business by insurance underwriting companies across life and general business, as well as brokerage firms. It also conferred special awards across several categories of activity.
The awards night was held under the theme ‘ESG Excellence: Building Resilient Insurance for Future Generations’.
This is in recognition of the prime importance that environmental, social and governance issues have attained in the modern global polity.
Welcoming awardees and other guests to the event, Ghana Re’s Managing Director, Seth Aklatsi, declared: “As a reinsurer, our mandate is to provide security; however, that security is only as strong as the partnerships we nurture. Your resilience in a shifting economic landscape has not only fortified your own institutions, but has anchored the entire Ghanaian insurance industry.
“As we look toward the future, Ghana Re is firmly committed to an ESG-led strategic direction. This is no longer a choice; it is a necessity for a sustainable market.”
According to Alatsi, on the environmental front, the company is moving beyond traditional risk management to support responsible underwriting that addresses the climate crisis by championing “green insurance” and building resilience against climate-related risks.
On the social front, the company is deepening its focus on capacity building and technical support; but is going even further to drive financial inclusion, protecting livelihoods and introducing innovative products to ensure the shield of insurance reaches the most vulnerable members of society.
In terms of governance Aklatsi reaffirmed that transparency and regulatory compliance remain Ghana Re’s bedrock but asserted that “building for the future also requires us to embrace digital transformation,” integrating data-driven insights into its governance frameworks to “enhance our ability to settle claims promptly and maintain the absolute trust of the insuring public.”
The Broker of the Year award went to KEK Insurance Brokers, with Jordan Global Insurance and Reinsurance Brokers and Afro-Asian Reinsurance Brokers claiming the 1st and 2nd runners-up spots respectively.
Enterprise Life Assurance was the Life Business Cedant of the Year, followed by Old Mutual Life Assurance and SIC Life Insurance respectively as the 1st and 2nd runners-up.
Special awards in the life insurance category were conferred on Starlife Assurance for premium payment; Metropolitan Life Insurance for contribution to the growth of Ghana Re; Glico Life Insurance for prudent underwriting; and MLife Insurance for loyalty to the business partnership with Ghana Re.
Enterprise Insurance won the General Business Cedant of the Year, with Hollard Insurance and SIC Insurance claiming the spots for 1st and 2nd runners-up respectively.
Special awards in the General Business Insurance category were conferred on Ghana Union Assurance for premium payment; Phoenix Insurance for contribution to the growth of Ghana Re; Provident Insurance for prudent underwriting and Coronation Insurance for loyalty to the business partnership with Ghana Re.
In closing the event, Seth Aklatsi urged all the insurance firms to move ESG from the periphery of their reports to the core of their business strategies, pointing out that “our success is interconnected; when we prioritise the environment, our society and ethical governance, the entire ecosystem thrives. Let is not just insure the present; let us safeguard the future.
The post Ghana Re holds 16th annual cedant awards appeared first on The Business & Financial Times.
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