SIC Insurance Company Limited

SymbolSIC
Company NameSIC Insurance Company Limited
Stated CapitalGHC 2,500,000
Security
Nature of BusinessInsurers and reinsurers generally for risks of every type and description
Date Incorporated
Comments
Date Listed25th/01/2008
Registered OfficeNyemitei Hse. 28/29 Ring Road East
Postal Address
Telephone0
Fax0
Email[email protected]
Websitewww.sic-gh.com
Types of Traded SecuritiesOrdinary Shares of no par value
Issued Shares(GH) (mil.)195.65
Issued Shares(GH) (mil.)195.65
DirectorsMrs. Felicity Acquah
Change of NameState Insurance Corporation

PR. 330/2018-SIC FINAL DIVIDEND AND CLOSURE OF REGISTER - July 30, 2018

Final Dividend
SIC announces that the Board of Directors of the company will be recommending to the shareholders at its upcoming Annual General Meeting the payment of a final dividend of GH¢0.0087 per share for the financial year ended December 31, 2017.
Qualifying date
All shareholders registered in the books of SIC at the close of business on Tuesday, August 7, 2018 will qualify for the final dividend.
Closure of Register
The Register of shareholders will be closed on Wednesday, August 8, 2018.
Ex-Dividend Date
In view of the foregoing, the ex-dividend date has been set as Friday, August 3, 2018. Consequently, an investor purchasing SIC shares before this date will be entitled to the final dividend. However, an investor buying SIC shares on or after
Friday, August 3, 2018 will not be entitled to the final dividend.
Dividend Payment Date
The proposed dividend if approved will be paid on Friday, September 28, 2018.

Issued at Accra, this 30th day of August, 2018.

PR. 315/2018-SIC CORRECTION OF ANNUAL GENERAL MEETING TIME - July 26, 2018

Press Release No. 310/2018 refers.
SIC announces that the Company’s 11th Annual General Meeting which will be held at the Ghana College of Physicians and Surgeons on Wednesday, August 8, 2018 is at 10:00am and not 2:00pm as earlier circulated.

Issued at Accra, this 26th day of July 2018.

PR. 310/2017-SIC ANNUAL GENERAL MEETING - July 25, 2018

SIC announces that the Company’s 11 th Annual General Meeting will be held at the Ghana College of Physicians and Surgeons on Wednesday, August 8, 2018 at 2:00pm.

Attached is the 2017 Annual Report and Financial Statements.

Issued at Accra, this 25 th day of July 2018.

PR. 223/2016-SIC-FINAL DIVIDEND, CLOSURE OF REGISTER AND ANNUAL GENERAL MEETING - July 19, 2016

Final Dividend

SIC announces that the Board of Directors of the company will be recommending to the shareholders at its upcoming Annual General Meeting the payment of a final dividend of GH¢0.0214 per share for the financial year ended December 31, 2015.

Qualifying date

All shareholders registered in the books of SIC at the close of business on Thursday, 11th August, 2016 will qualify for the final dividend.

Closure of Register

The Register of shareholders will be closed on Friday, 12th August, 2016.

Ex-Dividend Date

In view of the foregoing, the ex-dividend date has been set as Tuesday, 9th August, 2016. Consequently, an investor purchasing SIC shares before this date will be entitled to the final dividend. However, an investor buying SIC shares on or after Tuesday, 9th August, 2016 will not be entitled to the final dividend.

Dividend Payment Date

The proposed dividend if approved will be paid on Friday, 30th September, 2016.

Annual General Meeting

SIC announces that the Company’s Annual General Meeting will be held at the Ghana College of Physicians and Surgeons on Thursday, 4th August, 2016 at10.00 am.

Issued at Accra, this 19thday of July, 2016.

PR. 238/2015-SIC-CHANGE OF ANNUAL GENERAL MEETING DATE - July 14, 2015

PR. No. 230/2015 refers.

SIC announces that due to unavailability of venue, the date of the Company’s Annual General Meeting has been changed to Friday, July 31, 2015 at the Ghana College of Physicians and Surgeons at 10.00 am.

The Directors will not recommend dividend for the 2014 financial year.

Issued at Accra, this 14th day of July, 2015.

PR. 230/2015-SIC ANNUAL GENERAL MEETING - July 9, 2015

SIC announces that the Company’s Annual General Meeting will be held at the Ghana College of Physicians and Surgeons on Thursday, 30th July, 2015 at 10.00 am.

Issued at Accra, this 9th day of June, 2015.

PR. 023/2015-SIC-INTERDICTION FROM DUTY OF MANAGING DIRECTOR - January 30, 2015

The Board of SIC at its Emergency Meeting held on January 26, 2015, interdicted the Managing Director.

The board of SIC has appointed Mr. Kwei Mensah Ashidam, Deputy Managing Director(Technical), to act as Managing Director.

Issued at Accra, this 30th day of January, 2014.

PR. 299/2014 – SIC INSURANCE COMPANY LIMITED (SIC) RESIGNATION OF CHAIRPERSON OF THE BOARD - October 13, 2014

SIC announces the resignation of the Chairperson of the Board, Mrs. Felicity Acquah on grounds of extensive commitments that will hinder her continued performance on the Board. The resignation took effect from September 30, 2014.

The Board at its emergency meeting held on September 30, 2014, elected one of its members, Dr. Sydney Laryea to act as Chairman.

Issued at Accra, this 13th day of October, 2014.

PR. 158/2014-SIC-ANNUAL GENERAL MEETING - June 9, 2014

SIC announces that the Company’s Annual General Meeting will be held at the Ghana College of Physicians and Surgeons on Thursday, 31st July, 2014 at 10.00 am.

Issued at Accra, this 9th
day of June, 2014

PR. 319/2013-SIC-RETIREMENT AND APPOINTMENT OF ACTING COMPANY SECRETARY - November 28, 2013

SIC announces the retirement of Mr. Prince K. Mawuvenu, the company secretary from the service of the company. 
 
The company further announces that Mrs. Lydia Hlomador has been appointed as the Acting Company Secretary effective 14th November, 2013. 
  
Mrs. Lydia Hlomador
She is a bilingual Lawyer with over twelve (12) years experience at the Bar spanning secretarial, litigation and legal advisory services.
She previously worked with Ghana Trade Fair Authority as a Translator in 1994 and 1998 and provided secretarial support services to the Ghana Bar Association in 1999. She also worked as a Legal Assistant with Unilever Ghana limited and with the Law Reform Commission as a Legal Officer.
Mrs. Hlomador entered full scale ligation starting with a short stint with G.A. Sarpong and then continued with Hesse & Larsey. With the experiences gathered, she went into private practice in 2005, and managed a law firm – Excel Legal Consultancy – which provided broad spectrum legal services to both national and expatriate clients.
She joined SIC Insurance Company Ltd in 2008. She is a Senior Manager in the Legal Affairs Department and currently holds the position of Company Secretary in an acting capacity.
She graduated from the University of Ghana, 1998 with a combined Bachelors Degree in Law and French. She qualified as a lawyer on graduating from the Ghana School of Law in 2000.
  
 
Issued in Accra, this 28th
day of November, 2013

PR. 318/2013-SIC-RESIGNATION AND APPOINTMENT OF DIRECTORS - November 28, 2013

SIC announces the resignation of the following Directors from the Board of the company effective 14th November, 2013.
i Mr. Max Cobbina
ii Dr. Anaab-Bisi
iii Mrs. Yvonne Osei-Tutu
iv Mr. Kwame Awuah-Darko
 
The company also announces the appointment of the following Directors to the Board of SIC effective 14th November, 2013 to replace the out-going directors.
i Mrs. Felicity Acquah – New Chairperson
ii Mr. Fiifi Gyabra-Forson
iii Ms. Nancy Dakwa Ampofo
iv Mr. Robert Afflah Sackey
 
PROFILE OF NEW DIRECTORS
 
1.     Mrs. Felicity Acquah – Chairperson
Felicity Acquah holds an Executive Masters degree in Business Administration; MBA (Finance), a BA in Economics and Law and a Postgraduate diploma in Project Appraisal and Management. She is also a certified trainer in Entrepreneurship and a Certified Business Development Advisor. She is a Project Analyst and Development Advisor. She is a Project Analyst and Development Banker by profession.
 
With over 30 years of banking and business development experience, she has served in senior positions in the Agricultural Development Bank, National Investment Bank, Merchant Bank and Women’s World Banking. She served as Managing Director of Eximguaranty Company (GH) Limited, a Finance House for 10 years.
 
She was also a pioneer in establishing an Entrepreneurship and Business Development Institution (Empretec Ghana Foundation) initially sponsored by UNCTC; UNDP; DFID, World Bank. She served with Empretec Ghana for eight years and assisted in installing Empretec programmes in Botswana, Zimbabwe, South Africa and Sierra Leone.
 
She pioneered and led the implementation of the Relationship Management Workshop for Bankers between 1995 and 1997 for the benefit of the Agricultural Development Bank, Merchant Bank Ghana Limited and Barclays Bank.
 
She won meritorious awards on the celebration of Empretec Ghana Foundation’s 10th Anniversary. Ghana association of Women Entrepreneurs accorded her two awards for her contribution to business development in the country, having led the conduct of over 30 Entrepreneurship Workshops and over 40 Management Seminars for SMEs in Ashanti; Greater Accra; Western and Northern Regions. She won an African Leadership Award in 2005.
 
She was adjudged the Marketing Woman of the year 2006 by the Chartered Institute of Marketing Ghana and is a fellow of the Chartered Institute of Bankers.
 
She was accorded the Ghana Women’s Excellence Award through the Ministry of Women and Children’s Affairs in April 2012. An International NGO, GWIN awarded her a medal and certificate at the innovative Women in Business; Workplace and Leadership Awards ceremony in April 2012.
 
She had previously served on the Boards of : Food Research Institute; Gold Coast Securities; Metropolitan and Allied Bank; National Board for Small Scale Industries; Women’s World Banking; Empretec Ghana Foundation; Ghana Education Trust Fund (GETFund); Ghana Social Marketing Foundation (GSMF); the Chartered Institute of Bankers, the Association of African Development Finance Institutions (AADFI) the Guarantee Committee of the Guarantee Fund for West Africa (GARI) and Eximguranty Company (GH) Limited. She is currently serving on the Boards of the Catholic Institute of Business and Technology (CIBT, and is the Vice President of the Business Council of Africa (Ghana). She is a patron of FIDA (Ghana) and a patron of Empretec Women’s Forum (Accra Chapter).
 
2.     Ms Nancy Dakwa Ampofo
She is a Lawyer of 31 years standing at the Ghana Bar. She is also a Notary Public. She previously worked with Addae Twum and Company, Redco Limited and R. Kocuvie Tay and Co.
 
In the year 2000, Ms Ampofo established her own Legal Firm, N.D. Ampofo Associates based on the record of accomplishment and expertise garnered over nearly two decades. She offers legal consultancy services to both local and international clients in all areas of law. She has experience in Law of Contract, Commerce, Finance and Investment, Corporate and Commercial Law, Property Law and Real Estate, Construction law, employment and industrial Relations and Information Technology and Communications law. She also has expertise in Land Law, land tenure system and land registration.
 
She is currently the National Treasurer of the Ghana Bar Association and serves on the boards of the Legal Service and Agricultural Development Bank.
 
She holds a B.A combined Degree in Law (with Political Science) from the University of Ghana. She obtained her Professional Law qualifying certificate in 1981 from the Ghana School of Law. She was called to the Ghana Bar on 20th November 1981.
 
3.     Mr Fiifi Gyabra – Forson
He has expertise in Strategic and Tactical Analysis, Petroleum and Commodity Trading and Sports Administration.
 
Mr Forson has previously worked as a Business Development Strategist with R.S Amegashie and Partners and Courair Ghana Limited. He later moved into the petroleum sector taking appointment with Bunker Trade and Transportation Services Limited, Hydrocarbon Industries limited in the United Kingdom, and Modern Petroleum Limited (Ghana). He also served as Technical Consultant in Project Development and Financing with International Bi-Lateral Trade Council where he was responsible for DR Congo, Guinea, Niger and Liberia.
 
As a Sports enthusiast, he is a Management Member of Accra Hearts of Oak, Member of Ghana Football Association Marketing and Sponsorship Committee as well as the Manager of Hearts News.
 
He is currently the CEO and majority shareholder of Wodjoynts Limited, a wood joinery company.
 
He graduated from the University of Ghana with a Bachelor of Arts Degree in Economics.
 
4.     Mr Robert Afflah Sackey
He has over twenty-six (26) years experience in insurance, a career he started with the Social Security and National Insurance Trust (SSNIT) during his national service days in 1995. Due to his passion and interest in the subject, he quickly rose through the ranks and is currently the Insurance Manager, a position he has held since 1997.
 
Mr. Sackey is an Associate of the Chartered Insurance Institute (ACII), UK and a qualified lawyer   called to the Ghana Bar in 1999.
 
He graduated from the University of Ghana with a Bachelor of Arts Degree in Sociology and Political Science.
 
 
Issued in Accra, this 28th          
day of November, 2013

PR. 141/2013-SIC-APPOINTMENT OF MANAGING DIRECTOR AND DEPUTY MANAGING DIRECTOR (TECHNICAL) - May 10, 2013

SIC announces that at a meeting of the Board of Directors held on 30th April 2013, Mrs. Doris Awo Nkani, who had acted as the Managing Director of SIC since 3rd May, 2012, was confirmed as the substantive Managing Director with immediate effect.
 
Mrs. Doris Awo Nkani, the first female Managing Director of the Company, is a Chartered Insurer and fellow of the Insurance Institute of Ghana. She is a lawyer and has held several top positions in the insurance industry. Prior to her appointment as Deputy Managing Director (Technical) of SIC with effect from 1st September 2010, she was the Managing Director of Phoenix Insurance Company where she helped to re-position the Company.
 
Currently, she is the President of the Bureau of Guarantors of the Inter State Road Transport Association of ECOWAS. She is also an Executive Council Member of the West African Insurance Companies Association (WAICA) and member of the Governing Council of the West African Insurance Institute. She serves on the Board of SIC Life, Novotel and Superannuation Management Committee of the Atomic Energy Commission.
 
She is a holder of an LLB Hons. from University of Ghana and a BL from the Ghana Law School. She is a member of the Chartered Insurance Institute of UK and the Chartered Institute of Marketing.
 
At the same meeting of the Board a new Deputy Managing Director (Technical) in the person of Mr. Kwei-Mensah Ashidam, was appointed by the Board. Mr. Ashidam, before his appointment, was the acting General Manager, Technical and the Head of the Reinsurance Department of SIC. He brings on board over twenty-nine (29) years of experience in the insurance industry.
 
Previous positions he held include Head of Fire Department, Area Manager, Tema, Executive Assistant to the Managing Director and Head of Risk Department.
He holds a Bachelor of Science Degree in Mathematics from the Kwame Nkrumah University of Science & Technology, Kumasi, post-graduate Diploma in Marketing from CIM UK, and Diploma in Insurance from the West African Insurance Institute, Gambia.
 
He is Fellow of the Chartered Insurance Institute of UK and the Insurance Institute of Ghana, as well as a foundation member and lecturer for various courses previously organized by the Insurance Institute of Ghana, now the Ghana Insurance College.
 
 
Issued in Accra, this 10th

day of May, 2013

SIC-FINAL DIVIDEND, CLOSURE OF REGISTER AND AGM NOTICE - April 21, 2010

Final Dividend
SIC has announced a final dividend of GH¢0.0177 per share in respect of its financial year ended December 31, 2009.

Qualifying date
All shareholders registered in the books of SIC at the close of business on Thursday, May 13, 2010 will qualify for the final dividend of GH¢0.0177 per share which would be approved at the Annual General Meeting.

Closure of Register
The Register of shareholders will be closed from Friday, May 14, 2010 to Thursday, May 20, 2010 (both dates inclusive).

Ex-Dividend Date
In view of the foregoing, the ex-dividend date has been set as Tuesday, May 11, 2010. Consequently, an investor purchasing SIC shares before this date will be entitled to the final dividend. However, an investor buying SIC shares on or after Tuesday, May 11, 2010 will not be entitled to the final dividend.

Dividend Payment Date
The final dividend of GH¢0.0177 will be paid on Monday, June 21, 2010.

Annual General Meeting
The Company’s Annual General Meeting will be held at the National Theatre, Accra on Thursday, May 20, 2010 at 10 am.

Issued at Accra, this 21st
day of April, 2010

SIC-AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2009 - April 7, 2010

SIC has released its audited Financial Statements for the year ended December 31, 2009 as per the extracts attached.

Issued in Accra, this 7th
day of April, 2010

CLICK HERE TO VIEW DETAILS

SIC-NOTIFICATION OF CHANGES IN DIRECTORSHIP - August 17, 2009

SIC has announced that the under-listed persons have been appointed as the Board of Directors of the Company.

i. Mr. Max Cobbina – Chairman – May 21, 2009
ii. Mrs. Yvonne Osei-Tutu – Member – May 21, 2009
iii. Mr. Kingsley Awuah-Darko – Member – July 16, 2009
iv. Dr. Vitus Annab-Bisi – Member – July 16, 2009
v. Mr. Benjamin Acolatse – MD – July 16, 2009

SIC-ANNOUNCEMENT - July 30, 2009

SIC INSURANCE COMPANY LIMITED ()

SIC has released the attached announcement for the information of the general public

Issued at Accra, this 30th
day of July, 2009.

CLICK HERE TO VIEW DETAILS

PR. 298/2017-SIC UN-AUDITED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDING MARCH 2018 - August 7, 2018

SIC has released its un-audited Financial Statements for the first quarter ending March 31, 2018 as per the attached.

Issued in Accra, this 19th day of July, 2018.

PR. 298/2017-SIC UN-AUDITED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDING MARCH 2018 - July 19, 2018

SIC has released its un-audited Financial Statements for the first quarter ending March 31, 2018 as per the attached.

Issued in Accra, this 19th day of July, 2018.

PR. 283/2018-SIC-AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2017 - July 9, 2018

SIC has released its audited Financial Statements for the year ended December 31, 2017 as per the attached.

Issued in Accra, this 9 th day of July, 2018.

PR. 074/2018-SIC-UN-AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2017 - March 8, 2018

SIC has released its un-audited Financial Statements for the year ended December 31, 2017 as per the attached.

Issued in Accra, this 8 th day of March, 2018.

PR. 416/2017-SIC-UNAUDITED FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDING SEPTEMBER 2017 - November 8, 2017

SIC has released its un-audited Financial Statements for the third quarter ending September 30, 2017 as per the attached.

Issued in Accra, this 7 th day of November, 2017.

PR. 287/2017-SIC-UN-AUDITED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDING MARCH 2017 - August 7, 2017

SIC has released its un-audited Financial Statements for the first quarter ending March 31, 2017 as per the attached.

Issued in Accra, this 7th day of August, 2017.

PR. 288/2017-SIC-UNAUDITED FINANCIAL STATEMENTS FOR-THE HALF YEAR ENDING 30 TH JUNE 2017 - August 7, 2017

SIC has released its un-audited Financial Statements for the half year ending 30 th June, 2017 as per the attached.

Issued in Accra, this 7 th day of August, 2017.

PR. 287/2017-SIC-UN-AUDITED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDING MARCH 2017 - August 7, 2017

SIC has released its un-audited Financial Statements for the first quarter ending March 31, 2017 as per the attached.

Issued in Accra, this 7th day of August, 2017.

PR. 288/2017-SIC-UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDING 30 TH JUNE 2017 - August 7, 2017

SIC has released its un-audited Financial Statements for the half year ending 30 th June, 2017 as per the attached.

Issued in Accra, this 7 th day of August, 2017.

PR. 075/2017-SIC-UN-AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2016 - March 9, 2017

SIC has released its un-audited Financial Statements for the year ended December 31, 2016 as per the attached.

Issued in Accra, this 9th day of  March, 2017.

 

 

PR. 373/2016-SIC-UNAUDITED FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDING SEPTEMBER 2016 - November 23, 2016

SIC has released its un-audited Financial Statements for the third quarter ending September 30, 2016 as per the attached.

Issued in Accra, this 18th day of  November, 2016.

 

PR. 271/2016-SIC-UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDING 30TH JUNE 2016 - August 5, 2016

SIC has released its un-audited Financial Statements for the half year ending 30th June, 2016 as per the attached.

Issued in Accra, this 2nd day of  August, 2016.

 

PR. 025/2016-SIC-UN-AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2015 - February 17, 2016

SIC has released its un-audited Financial Statements for the year ended December 31, 2015 as per the attached.

Issued in Accra, this 2nd day of  February, 2016.

PR. 288/2015-SIC-UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDING 30TH JUNE 2015 - August 18, 2015

SIC has released its un-audited Financial Statements for the half year ending 30th June, 2015 as per the attached.

Issued in Accra, this 17th day of August, 2015.

PR. 207/2015-SIC INSURANCE COMPANY LIMITED (SIC) UN-AUDITED FINANCIAL STATEMENTS FOR THE FIRST QUARTER ENDING MARCH 2015 - June 24, 2015

SIC has released its un-audited Financial Statements for the first quarter ending March 31, 2015 as per the attached.

Issued in Accra, this 22nd day of June, 2015.

PR. 026/2014-SIC-UN-AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2014 - February 3, 2015

SIC has released its un-audited Financial Statements for the year ended December 31, 2014 as per the attached.

Issued in Accra, this 30th day of January, 2015.

PR. 335/2014-SIC-UNAUDITED FINANCIAL STATEMENTS FOR THE THIRD QUARTER ENDING SEPTEMBER 2014 - November 3, 2014

SIC has released its un-audited Financial Statements for the third quarter ending September 30, 2014 as per the attached.

Issued in Accra, this 3rd day of November, 2014.

PR. 233/2014-SIC-UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDING 30TH JUNE 2014 - August 21, 2014

SIC has released its un-audited Financial Statements for the half year ending 30th June, 2014 as per the attached.

Issued in Accra, this 21st
day of August, 2013.

PR. 298/2013-SIC-UN-AUDITED FINANCIAL STATEMENTS FOR THE NINE MONTHS ENDED SEPTEMBER 2013 - November 1, 2013

SIC has released its un-audited Financial Statements for the nine months ended September 30, 2013 as per the attached.

Issued in Accra, this 1st
day of November, 2013

PR. 218/2013-SIC-UNAUDITED FINANCIAL STATEMENTS FOR THE HALF YEAR ENDED JUNE 2013 - July 31, 2013

SIC has released its un-audited Financial Statements for the half year ended 30th June, 2013 as per the attached.

Issued in Accra, this 31st
day of July, 2013

PR. 022/2013-SIC-UN-AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 2012 - February 1, 2013

SIC has released its un-audited Financial Statements for the year ended December 31, 2012 as per the attached.

Issued in Accra, this 1st
day of February, 2013

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