Governing Board of National Insurance Commission inaugurated

The National Insurance Commission (NIC) in Ghana has a new Governing Board. This seven-member board aims to improve the regulation of Ghana's insurance sector. It will also ensure greater efficiency and transparency within the Commission.

Mr. Christopher Boadi-Mensah chairs the board. Other members include Dr. Abiba Zakariah, Mr. David Klotey Collison, and Mr. Emmanuel Amofa. The board also includes Mr. Mathew Kwaku Atta Aidoo, Ms. Jean-Marie Formadi, and Mr. Simon Akibange Aworigo.

The inauguration ceremony took place in Accra. Hon Thomas Nyarko Ampem, Deputy Minister for Finance, administered the Oaths of Office and Secrecy on behalf of Hon. Dr. Cassiel Ato Forson.

In his speech, Hon. Ampem highlighted the NIC's vital role in Ghana's insurance sector stability and growth. He urged the new Board to focus on regulatory reform and transparency.

“The insurance sector is crucial for our economic growth,” he said. “The Board must ensure it functions effectively and sustainably.” He expects reforms that will boost consumer trust and expand coverage across Ghana.

Mr. Boadi-Mensah expressed gratitude to the President and Minister for Finance for this opportunity. He emphasized their commitment to strengthening regulatory frameworks and improving industry standards.

“We are honored to take on this responsibility,” he stated. Their mission is to benefit all Ghanaians while promoting innovation in the industry.

The new Board will enhance NIC’s capacity to regulate effectively and ensure compliance with standards. They aim to improve public understanding of insurance benefits as well.

Key priorities include increasing insurance penetration in underserved areas and ensuring services are accessible, affordable, and beneficial for all Ghanaians.