Insurance World

Ghana: Donewell Insurance marks 25 years of operations

Donewell Insurance Company is now fully capitalized and has exceeded the minimum capital requirement of 15 million Ghana cedis set by the regulator, the National Insurance Commission [NIC].

The company, which was originally registered as Methodist Mutual Insurance Company in 1988, has chalked success in growth rates of in 2016 and 2017 respectively.

Speaking at the launch of the silver jubilee anniversary at the British Council, Accra, the CEO of the company, Seth Aklasi, said they are committed to strengthening their financial base to meet any increase in the minimum capital that would be required by the NIC.

“In the future, the company has a clear objective of being among the first five General Insurance Companies in Ghana with a market share of over 10%, an objective I have no doubt will be accomplished,” he said.

The CEO also touched on one of the challenges they face, which has to do with fake stickers on the market and advised Ghanaians against patronizing fake stickers from people who are not recognized as officials of the company.

He also noted that the 2016 internship program for students in entrepreneurship is ongoing with more students getting on-board.

“We haven’t stopped, we always do as many as we can. Donewell has 10 offices in all regions in Ghana and if you go to these offices we do have interns working there,” he said.



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