Ghana Reinsurance pays dividend of GH¢10m to government through SIGA

Ghana Reinsurance Company Limited (GhanaRE) has presented 10 million cedis to the government through the State Interest and Governance Authority (SIGA). The amount is the government’s share of dividends earned in the 2020 financial year.

The Managing Director of GhanaRE, Mr George Y. Mensah and Ms Akosua Baah Frimpong, the Company Secretary presented the cheque to the Director General of the State Interest Governance Authority, Mr Stephen Asamoah-Boateng at his office on Thursday, July 8, 2021. Also present at the presentation was the General Manager in charge of Operations at SIGA, Hollistar Duah-Yentumi.

Speaking after the presentation, the Managing Director of Ghana Reinsurance Company Limited, George Mensah, expressed gratitude for SIGA’s support over the years.

He also stated that GhanaRE is one of the companies that has been consistent with paying their dividends over the past 20 years. According to him, despite the challenges of COVID-19 on business in general, they worked hard to ensure that they could pay dividends to the government.

The Director General of SIGA, Mr Asamoah-Boateng expressed appreciation to the GhanaRE for its commitment to paying dividends to the government every year.

He said, “In these crucial times where countries are still struggling with COVID recovery efforts, Ghana’s inclusive government needs the support of all stakeholders and players in the economy to enable the country to recover from the effects of the pandemic”.

Established in 1972 as the Ghana Reinsurance Organization, it was incorporated as a Limited Liability Company on June 16, 1995, and has been in operation for over 40 years as a reinsurance service provider.

In addition to its head office located in Accra, Ghana, the Company currently has two regional offices in Kenya and Cameroon.

Ghana Re is wholly owned by the Government of Ghana and governed by a Board of Directors appointed by the sole shareholder. It is among the many State-Owned Enterprises (SOEs) whose operations and profitability are supervised by the State Interests and Governance Authority (SIGA).

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