Serene Insurance Company commissioned at Tema

Patrick Obeng, GNA

Tema, Sept. 12, GNA — Mr Ken Ofori-Atta, the
Minister of Finance, said there was the need to build the capacity of local
insurance companies to empower them to handle the risk associated with the oil
and gas sector.

Mr Ofori-Atta was speaking in an address read
for him at the commissioning of the Serene Insurance Company at Tema.

The company, which is a member of the First
Sky Group, obtained its licence to operate as insurance company in April, this
year, to help redefine the insurance industry.

It is offering motor insurance, aviation,
marine, insurance of the person, custom bond, property insurance, general
bonds, general accidents, liability insurance, and pecuniary insurance.

Mr Ofori-Atta commended the First Sky Group
for opening the company in Ghana and expressed the hope that it would abide by
the laws governing the insurance industry and work to move it forward.                                

Mr Eric Seddey Kutortse, the Group Chairman of
the First Sky Group, said the company would complement the efforts of
government to bring development and relief to Ghanaians.

“Our desire as a Group is to partner
government in this journey by investing in critical areas of our economy, which
would stimulate employment creation, address societal needs and improve the
well-being of our people,” he said.

Mr Christopher Boadi Mensah, the Chief
Executive Officer of the company, said although the country had a large
uninsured population the few insured were not entirely satisfied with the
quality of insurance service in the country.

He gave the assurance that the company would
work to improve service delivery through progressive technologies that reduced
cost and provided better coverage and services to policyholders. 

Justice Jones Dotse, a Justice of the Supreme
Court, who chaired the function, reminded the directors of the company of their
legal responsibilities and urged them to act with utmost good faith, avoid
conflict of interest situations and endeavour to practice good corporate


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