A team from GLICO Group comprising members from each subsidiary in a group photograph
GLICO, the one-stop shop for insurance and financial services in
Ghana, has been adjudged“The best insurance Group” in Ghana at the recently
held 2ndGhana Insurance Awards.
Two subsidiaries of the GLICO
Group also received awards. GLICO General was adjudged “The Personal Line
Insurer of the Year”, whilst GLICO Healthcare was declared “The Indigenous
Insurer of the year–Private healthcare”.
The GLICO Group has its genesis
as Gemini Life Insurance Company, acronym “GLICO” that started operations in
Ghana in 1987. With a sustainable business philosophy propounded by its
founder, Mr. Kwame Achampong-Kyei, that is,“to bring insurance to the doorstep
of every Ghanaian household”, GLICO in 2003 embarked on expansion of allied
services to offer more value to its policyholders and to grow each service
offering’s portfolio.
In 2003, it birthed now GLICO
Capital Ltd to offer investments advice and services to its expanding
policyholders. Around the same time the National HealthInsurance,Act 2003 (Act
650)was promulgated and it took advantage of the opportunity to bring quality
health insurance services to its policyholders by forming now GLICO Healthcare
Ltd. With long term investments gained from life insurance premiums, GLICO
formed now GLICO Properties Ltd in 2006, to take advantage of the appreciating
value of land and landed properties in Ghanaso as to return to Ghanaians higher
investment returns on policies at maturity. Then in 2006, the National
Insurance Act 2006 (Act 724) was enacted to separate insurance businesses into
life and non-life. GLICO seized the opportunity to form GLICO General Ltd to
offer non-life insurance services to its policyholders. And finally, the
promulgation of the National Pensions Act2008 (Act 766) enabled GLICO to
move its pensions and welfare portfolios to form GLICO Pensions Trustees Ltd in
2010.
Today, the then Gemini Life
Insurance Companyis registered as GLICO Life Insurance Ltd focusing only on
life insurance policies. A separate GLICO Group Company has also been
registered to support the growth and expansion of GLICO as a groupin providing
a one-stop insurance and financial services to Ghanaians whilst adding value to
each service offering. One thing that has remained consistent with GLICO
throughout its expansion phases has been its promise of “we cushion you for
life” that isactualized in its prompt claim payment; a firm foundation on which
the GLICO brand is built.
Asked what this award means to
the GLICO, the Group Head, Corporate Affairs & Marketing, Nana Efua Rockson
excitedly stated that; “it’s amazing to build a company and a brand that
commands presence. However, maintaining it sustainably requires out-of-box
thinking and strategic moves in today’s technologically-driven and
customer-centric world. We are not sitting on our oars and we will continue to
offer value to our clients”. She continued by saying that, “this award is
dedicated to all our customers, partners, stakeholders and to all Gliconians”.
The GLICO Group Chief Executive
Officer, Mr. Forkuo Kyei, remarked on the news of the award that; “this is
quite opportune because it couldn’t have come at a better time than this. GLICO
is restructuring and positioning itself to take advantage of synergy to offer
far better services to Ghanaians. He added that,“thank you to all who made it
happened and to Ghanaians for believing and supporting a home-grown business
throughout three decades and counting”.
The Executive Chairman of GLICO
Group, Mr. Kwame Achampong-Kyei had this to say: Congratulations to the GLICO
team for continuoushard work and assiduousness; and to all our customers, thank
you for trusting GLICO to cushion you for life.
Significantly, each of the
companies in the GLICO Group is among the leaders in their categories and
continue to churn out innovative services and policies that offer financial
solutions to Ghanaians. In a time of uncertainty, one can always trust GLICO to
cushion them for life because they have a blueprint garnered over thirty years
to do just that. It is therefore not a surprise that GLICO was adjudged the
best Group in the insurance industry.
