The government has urged insurance companies operating in the country to be more interested in reinvesting their profits in the economy than repatriating it to their home countries.
Such reinvestment, it says, would help to grow the Ghanaian economy from which the banks would continue to benefit.
Deputy Minister of Finance, Kweku Kwarteng made the call at the official launch of Hollard Life Ghana in Accra.
He said although the government appreciated the need for the banks to honour obligations to their foreign shareholders, it would be beneficial to reinvest in the host country’s economy.
Mr. Kwateng added that the government was confident Hollard Ghana would use its vast experience in its operations in various countries and cultures to make a difference in advancing the growth of the insurance industry in Ghana.
Managing Director of Hollard Life Ghana, Iddrisu Nashiru said they will provide bespoke innovative solutions that will ensure adequate financial security and absolute peace of mind to their clients.
He noted that, as part of its strategies to provide value to the insuring public, they have introduced the Adepa Family Plan, which covers every member of the nuclear and extended family.
The Hollard Life Ghana boss said they will provide corporate group life solutions that go beyond just protection of employees but also seeks to ensure their well-being with the provision of health.
He stressed their commitment to abide by all regulator, governance and compliance requirements.
Iddrisu Nashiru also assured of a healthy yet innovative competition and collaborations in the industry.
The official launch of Hollard Life Ghana, now put the number of Life Insurance companies in Ghana to 26.
…with Kofi Owusu TAWIAH (firstname.lastname@example.org)