SIC Insurance flexes financial muscles in end-of-year press engagement

Insurance industry giant SIC Insurance PLC is touting its financial strengths against a backdrop of positive gains across the board in 2025.

In an engagement with journalists at the La-Palm Royal Beach Hotel on Friday, the company’s Managing Director, James Agyenim-Boateng, applauded SIC’s financial statement over the past 11 months.

He said that although his outfit had conducted business in a highly competitive and economically challenging space, it had worked strategically to improve service delivery and boost customer trust.

Mr. Agyenim-Boateng, who took the SIC top job this year, announced a profit spike of GHC37.45 million, up from GHC26.58 million within the same period last year.

Improvements were also recorded in basic earnings per share, which increased to GHC0.1914 from GH0.1358 the previous year.

The company also exceeded the billion mark in total net assets, expanding to over GH1.16 billion, up from GHC954.95 million in 2024.

The Managing Director explained that an increased insurance revenue, coupled with growth in written premiums, had engineered the positive gains in SIC’s numbers.

“Profitability and earnings strengthened relative to the same period in 2024, driven largely by growth in gross written premiums and higher insurance revenue. The balance sheet also improved with net assets and equity, signaling a more robust financial position.

“The achievements demonstrate not only resilience but a renewed sense of purpose and direction within the company,” he pointed out.

Looking ahead in 2026, the SIC boss said the company will realise the vision of digital transformation in order to boost services to its clients.

“We are automating our claims notification and tracking systems to give customers a seamless and transparent experience,” he disclosed. “Our objective is to deliver speed, convenience, and transparency – the hallmarks of a modern insurer.”

Mr. Agyenim-Boateng also pledged to project the visibility of SIC in the media through “extensive market campaigns and insurance education programmes”.

He was convinced that such measures would enable the public to understand the policies and packages of an industry that has long battled misconceptions about its operations.