Mike Hammah (2nd right) with some SIC Top Executives presenting the cheque to Ato Forson
SIC Insurance Company Limited, Ghana’s leading Non-Life Insurance Company, has presented a cheque of GH¢1,674,721.20 to the Ministry of Finance as dividend for the year ending 2015.
The amount represents 40 percent of total dividend to shareholders of the company.
Mike Hammah, Board Chairman of SIC Insurance Company Limited, who was speaking at the presentation ceremony, expressed appreciation to government for its cooperation over the years.
He said the company has embarked on an Enterprise Risk Management programme which is aimed at consistent improving efficiency to strengthen internal control systems to consolidate gains to provide value for its shareholders and stakeholders alike.
Mr. Hammah said SIC Insurance paid GH¢4,178,977.20 as dividend to its shareholders in 2015, representing a 20 percent increase over the amount last paid in 2012.
He said the board and management were working hand in hand to align the company’s risk appetite to its strategy going forward.
This, he said, would enhance risk response decisions and thus reducing operational surprises and losses.
Receiving the cheque on behalf of Government, the Deputy Minister of Finance, Cassiel Ato Forson, commended SIC Insurance for the payment in the face of stiff competition in the insurance industry and encouraged the company to remain resilient, reliable and profitable in order to increase its dividend in the ensuing year.
He said as the industry leader, SIC Insurance must continue to be relevant on all fronts to provide the needed direction for the industry.