SIC Insurance Company

Operations

Products

SIC Insurance writes virtually all classes of short-term insurance including five which covers motor, fire, marine, aviation, general accident, and policies for the hospitality industry.

Oil and gas

In light of the oil found along the western coast of Ghana, SIC Insurance positioned itself to underwrite oil and gas and other ancillary businesses in Ghana. Further to this, Ghana Insurers Association (GIA) as a way of building capacity and positioning itself to adequately handle all related insurance on oil and energy risks, and form a pool. All insurances relating to exploration, drilling, to the production of oil and gas are placed in the pool and the core responsibility of the entire portfolio is managed by the appointed Manager. SIC Insurance was appointed as the pool manager based on their capital base, human resource capacity, and track record among other things. SIC Insurance's responsibility involves dealing with all the Ghana insurance companies participating in the pool, the clients and other stakeholders as well as the overseas re-insurers.

Market share

SIC Insurance is one of the leading providers of non-life insurance products in Ghana with an estimated market share of over 12%. The company exceeds the minimum stated capital requirement of US$1 million (GH¢1.42 million) set by the National Insurance Commission of Ghana.

References

References

1. [http://www.sic-gh.com/subcat_select_thumbs.cfm?tblNewsCatID=6&prodcatID=1&CFID=13062051 Board of Directors - SIC Insurance Company]. pbcgh.com.
2. [http://www.sic-gh.com/subcat_select_thumbs.cfm?tblNewsCatID=36&prodcatID=1&CFID=13062051 Executive Management - SIC Insurance Company]. pbcgh.com.
3. [https://archive.today/20120709072629/http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=SIC:GN Sic Insurance Co Ltd (SIC:Accra)]. investing.businessweek.com.
4. [https://www.bloomberg.com/quote/SIC:GN SIC Insurance Company]. ''bloomberg.com'' ([[Bloomberg L.P.]]).
5. [https://www.bloomberg.com/news/2012-05-02/sic-insurance-of-ghana-first-quarter-profit-rises-37-1-.html SIC Insurance of Ghana First-Quarter Profit Rises 37%]. ''bloomberg.com'' ([[Bloomberg L.P.]]).
6. [http://www.sic-gh.com/maincat_select_corporate.cfm?prodcatID=1&CFID=13062051&CFTOKEN=d9314b7c06883eeb-26CA5BF2-9149-4CDA-E65059B740FACC52&jsessionid=ac30ffa752430e2d0f8019611853647f6755 About Us - SIC Insurance Company]. pbcgh.com.