Insurance World

Donewell Insurance Holds 20th Annual General Meeting

Donewell Insurance Company Limited on Friday 31st May 2019 held its 20th Annual General Meeting (AGM) at the Conference Office of the Methodist Church Ghana, Wesley House; Accra.

Speaking at the AGM, the Chairman of the Board, Prof. Ato Essuman acknowledged the exceptional role played by the Directors, management and staff of the company in ensuring that the company recorded consistent profits. He stated, “It took resilience, dedication and courage to be where we are today. The profit made by Donewell this year is unprecedented and as we celebrate this, we would never forget the pioneering role of the Methodist Church Ghana, whose custom we have always enjoyed and sincerely cherished”. 

Presenting the performance of the company to shareholders, Mr. Aklasi; CEO of Donewell Insurance Company Ltd. shared the figures for the past five years and noted 160% growth over the period. Profit before tax data for 2018 also showed a 148% increase in performance over the previous year’s figure. The company also declared dividends for shareholders at the AGM; third in a row since 2016. 

The CEO attributed the company’s successes to strategies outlined to grow the topline, manage claims and operational expenses. As at the end of 2019 first quarter (March 2019), the company had already recorded a premium of over GHS34million, GHS4million less than the entire premium revenue of 2018; a confirmation of the company’s commitment to growth and continuity. 

Amongst others, the company has acquired a new insurance software to reduce the turnaround time in transactions, engaged the services of professional garages to service and repair vehicles of motor insurance clients without delays and has refurbished its corporate head office in Osu, Accra to create a good ambience and improved customer experience for clients who visit their office to transact business.

The building was rededicated to the Glory of God by Most Rev. Prof. Emmanuel K. Asante, a former Presiding Bishop of the Methodist Church of Ghana.

Prof. Essuman reaffirmed the company’s commitment to be the best in the industry and said “We will continue to serve all by offering cost effective solutions to both the physical and pecuniary risks they are confronted with and delight them on all occasions with the dream of becoming the best risk solution provider in the general insurance market and will serve to live our motto IF IT MUST BE DONE, IT MUST BE DONEWELL”.

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