Insurance World

Ghana’s National Insurance Commission clamps down on ‘illegal’ insurance company

National Insurance Commission (NIC) has clamped down on Swaytel Insurance Company Limited, a company operating in Swedru and its environs in the Central region.

NIC says, it has not issued any license to the company and therefore it is operating illegally.

“Yes, it is confirmed there is an illegal insurance company operating in Swedru by name Swaytel Insurance Company Limited. They have branded their shops or their premises Swaytel Insurance Company Limited. If you’re in Swedru and you see that company, it is not a legal company and so don’t do business with them,” Deputy Commissioner of Insurance, Michael Andoh, told JoyBusiness.Mr Andoh said the case is currently under investigation. “We have collaborated with the Ghana Police Service, we have had some people apprehended; those behind the scheme.”

Some investigations are still going on; we are planning that we will put those arrested before the Law Court for the case to be tried and the appropriate penalties meted out to them” he added.

The company is issuing fake insurance policies (cover notes, insurance certificates and insurance motor stickers) to the public, especially, those within the Swedru, Winneba and Cape Coast areas in the Central Region – according to a public notice from the NIC.



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