SIC Insurance PLC has held its 19th Annual General Meeting (AGM) in Accra, with shareholders approving a dividend of GH¢0.1022 per share, translating into a total dividend payment of GH¢20 million for the 2025 financial year.
The AGM was conducted in a hybrid format, allowing shareholders to participate both physically and virtually through the SIC Insurance AGM Platform.
The meeting was chaired by the Board Chairman of SIC Insurance PLC, Honourable Bernard Ahiafor, Member of Parliament, and provided shareholders with an opportunity to review the company’s performance, financial position and strategic direction.
The approval of the dividend follows a strong financial performance recorded by the company during the 2025 financial year, with significant improvements across key financial indicators.
SIC Insurance PLC’s insurance revenue increased from GH¢559.48 million in 2024 to GH¢598.19 million in 2025.
The company attributed the growth to sustained confidence from policyholders, continued diversification of its insurance products and the increasing recognition of insurance as an important tool for protecting businesses, individuals and families against financial risks.
Profit before tax also recorded substantial growth, rising to GH¢117.74 million in 2025 from GH¢83.21 million in 2024. This represents an increase of approximately 41.5 percent.
After accounting for income tax and the Growth and Sustainability Levy, the Group recorded a profit after tax of GH¢84.05 million, compared with GH¢53.41 million the previous year, representing an increase of approximately 57.4 percent.
The company’s improved profitability was accompanied by a stronger capital position.
Total shareholders’ funds increased to GH¢786.28 million as of December 31, 2025, from GH¢670.38 million in 2024, representing growth of approximately 11.3 percent.
The increase in shareholders’ funds, according to the company, reflects its continued efforts to strengthen its financial foundation and create a more sustainable platform for future growth.
The improved financial performance also translated into increased earnings for shareholders.
Basic earnings per share rose from GH¢0.2730 in 2024 to GH¢0.4296 in 2025, while the Group’s return on shareholders’ funds improved from 7.97 percent to 10.69 percent.
These results formed the basis for the Board’s recommendation and shareholders’ approval of the GH¢20 million dividend.
Addressing shareholders, Board Chairman Bernard Ahiafor reaffirmed the Board and Management’s determination to restore SIC Insurance PLC to a leading position within Ghana’s insurance industry.
He said the company’s ambition goes beyond financial performance and includes creating a lasting positive impact on policyholders, communities and the country.
«“Our ambition remains clear and undiminished, to re-establish SIC Insurance PLC as the undisputed leader in the Ghanaian insurance industry, not only by financial measures, but by the standard of the positive, lasting impact we make on the lives of our policyholders, the communities we serve and the nation we are proud to call home.”»
The company has also reported encouraging results for the first half of 2026, suggesting that the positive performance recorded in 2025 has continued into the current financial year.
For the first six months of 2026, SIC Insurance PLC recorded insurance revenue of GH¢323.21 million and a net profit of GH¢31.35 million.
Management is expected to build on the performance by implementing measures aimed at improving operational efficiency, strengthening customer service and expanding the company’s presence across different segments of the insurance market.
The company’s transformation agenda includes product diversification, innovation, improved customer experience and the adoption of modern approaches to insurance delivery.
SIC Insurance PLC also continues to focus on strengthening its relationship with customers, intermediaries, regulators and other stakeholders as it seeks to consolidate its position in Ghana’s competitive insurance industry.
Under the approved dividend arrangements, Thursday, September 10, 2026, has been set as the Ex-Dividend Date, while Monday, September 14, 2026, is the Qualifying Date, also known as the Record Date.
Qualifying shareholders are expected to receive their dividend payments on Monday, October 12, 2026.
The Managing Director of SIC Insurance PLC, Mr. James Agyenim-Boateng, expressed confidence in the company’s prospects, saying the organisation has significant opportunities ahead as it continues its transformation.
«“The best of SIC Insurance PLC is unquestionably yet to come, and I look forward with great excitement and determination to the journey ahead.”»
The Managing Director’s remarks come at a time when the company is seeking to strengthen its operational performance while positioning itself to respond to changing customer needs and developments within Ghana’s financial and insurance sectors.
The company’s performance also provides shareholders with an indication of its ability to generate sustainable returns while maintaining a stronger capital base.
Management has therefore pledged to continue investing in areas that can improve efficiency, enhance service delivery and create greater value for both customers and shareholders.
The Board and Management expressed appreciation to shareholders for their continued confidence in the company.
They also acknowledged the contributions of customers, insurance intermediaries, regulators, management and staff whose efforts, they said, had contributed to the company’s financial performance and ongoing transformation.
The company says its transformation agenda will remain focused on strengthening operational efficiency, improving customer experience, expanding and diversifying its product portfolio, embracing innovation and delivering sustainable value to stakeholders.
With the approval of the GH¢20 million dividend and continued growth in key financial indicators, SIC Insurance PLC enters the next phase of its transformation with a renewed focus on profitability, customer confidence and industry leadership.
The company remains guided by its longstanding commitment to policyholders and its corporate principle: “Our Promises Are Sacred.”
Story by Stephen Kwaku Owusu Mintah
Ahotoronline, Accra