Motor insurance premiums to increase by 30% from January 2024 – Insurers Association –

Beginning January 2024, the cost of Motor Insurance Premiums in Ghana are expected to go up by more than 30 percent.

This is according to the Chief Executive of the Ghana Insurers Association, Dr. Kingsley Kwesi Kwabahson who attributed the increment on government’s decision to impose a VAT rate on Non-Life Insurance products by 21 percent.

This is further exacerbated by the expected increase of Motor Insurance Premiums by at least 10 percent.

Dr. Kingsley Kwesi Kwabahson made this known speaking on the JoyNews PM Express Business Edition and monitored by GhanaWeb Business on December 14, 2023.

MA

Source: www.ghanaweb.com