SIC Insurance PLC is set to introduce a mandatory travel insurance policy for all inbound non-Ghanaians entering the country from January 1, following the completion of all required ministerial and sector clearances.
The policy will require all foreign nationals travelling into the country to possess valid travel insurance before arrival or upon entry.
The Managing Director of SIC Insurance PLC, Mr James Agyenim-Boateng, said the initiative was to improve the travel experience of visitors to Ghana while ensuring adequate financial protection in the event of medical emergencies, accidents or other travel-related risks.
He appealed to the media to support public education and smooth implementation of the policy nationwide.
Mr Agyenim-Boateng disclosed this during a media engagement held in Accra on Friday, where he also outlined the company’s performance for the 2025 financial year and its strategic direction for 2026 and beyond.
He also described the engagement as a renewed effort to strengthen collaboration between SIC Insurance and the media, which he said remained critical to building public trust in the insurance industry.
Reflecting on his background as a former media practitioner, the Managing Director underscored the principles of accuracy, balance and accountability he learned in journalism continued to shape his leadership approach.
He emphasised that public confidence was central to the insurance business and that transparent engagement with the media was key to sustaining that trust.
Furthermore, Mr Agyenim-Boateng reported that SIC Insurance recorded strong financial growth in the first nine months of 2025, despite operating in a highly competitive and challenging economic environment.
“Profit after tax for the period ending September 30, 2025, rose to GH¢37.45 million, compared to GH¢26.58 million in the corresponding period of 2024. Insurance revenue increased significantly to GH¢430.31 million from GH¢315.59 million, while basic earnings per share improved to GH¢0.1914 from GH¢0.1358,” he added.
Moreover, he revealed that total net assets grew to GH¢1.16 billion, up from GH¢954.95 million a year earlier, with shareholders’ equity rising from GH¢513.01 million to GH¢724.27 million, indicating a stronger balance sheet and improved financial resilience.
BY CECILIA YADA LAGBA
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