Donewell Insurance Company Limited, a renowned insurance brand in Ghana has refurbished and re-dedicated its corporate head office in Osu Accra as part of efforts to improve customer experience and provide a modern ambiance for clients.
Re-dedicated by Most Rev. Prof. Emmanuel K. Asante, it was done in line with the company’s 20th Annual General Meeting (AGM) held on Friday, 31st May 2019. Prof. Ato Essuman, Board Chairman of the company shared the company’s plans in meeting the dynamic needs of its clients which included the decision to improve the corporate head office and main underwriting hall.
In addition to the building, the company has acquired a new insurance software with advanced features to improve turnaround time and also engaged professional garages to conduct assessments, repair and service vehicles of clients without delays.
Presenting the company’s performance at the AGM, Mr. Seth Aklasi; CEO of Donewell Insurance Company Ltd. shared the figures for the past five years and noted 160% growth over the period. Profit after tax data for 2018 also showed a 265% increase in performance over the previous year’s figure.
He attributed the impressive performance to innovative strategies initiated and implemented by the board, management, and staff of the company during the year under review.
He added, “the company continues to improve and report a profit after tax; the results seen are as a result of the various strategies that have been put in place to aggressively grow the top line, manage claims and keep a close eye on operational expenses”.
The Board Chairman presented the board’s recommendation to pay dividends confirming the company’s consistency in paying dividends each year from 2016. In 2016, the company paid dividends of GHS2,500,000.00; the highest paid by any insurance company that year but with an increase of 36%, the 2018 dividend declared was GHS3,395,707.20.
Currently, Ghana’s insurance industry has 29 non-life insurance companies, 24 life insurance companies, three reinsurance companies, 90 brokerage companies, four reinsurance brokers and 7000 insurance agents.
The industry is currently undergoing reforms and restructuring aimed at improving standards, building and sustaining public confidence.