{"id":241772,"date":"2024-10-30T04:45:53","date_gmt":"2024-10-30T04:45:53","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/30\/ghanas-insurance-industry-records-22-growth-in-investments-assets\/"},"modified":"2024-10-30T04:45:53","modified_gmt":"2024-10-30T04:45:53","slug":"ghanas-insurance-industry-records-22-growth-in-investments-assets","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/30\/ghanas-insurance-industry-records-22-growth-in-investments-assets\/","title":{"rendered":"Ghana\u2019s insurance industry records 22% growth in investments assets"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Ghana\u2019s insurance industry recorded a substantial 22% growth in its investment assets in 2023, reaching a total value of GH\u20b510.5 billion, up from GH\u20b58.6 billion in 2022, according to the latest Bank of Ghana\u2019s 2023 Financial Stability Review report.<\/p>\n<p>Ghana\u2019s Insurance industry seems to have weathered the storm of the COVID-19 pandemic and the domestic debt exchange programme.<\/p>\n<p>The life insurance sub-sector led this growth, with investment assets valued at GH\u20b57.0 billion as of December 2023, compared to GH\u20b53.5 billion in the non-life sector.<\/p>\n<p>Fixed-income assets remain a common investment strategy across life and non-life sectors.<\/p>\n<p>However, the share of government securities in investment portfolios has seen a notable decline, possibly influenced by the effects of the Domestic Debt Exchange Programme (DDEP).<\/p>\n<p>In the non-life insurance sector, holdings in government securities decreased by 13%, reducing their share from 38% in 2022 to 27% in 2023.<\/p>\n<p>Fixed deposits in this sector now make up 23% of the investment portfolio, with listed securities and investment properties contributing 27% and 19%, respectively.<\/p>\n<p>Similarly, the life insurance sector recorded a 9% reduction in government securities, dropping from 49% of its portfolio in 2022 to 40% in 2023.<\/p>\n<p>This shift has been accompanied by a rise in other asset classes, with investments in properties growing to 23% and fixed deposits increasing by 8 percentage points to 21%.<\/p>\n<p>These shifts indicate strategic diversification in response to market conditions, positioning the insurance industry for resilience and continued growth.<\/p>\n<p>The growth in investment assets and diversification efforts signal the sector\u2019s commitment to adapting to economic dynamics while providing financial stability for policyholders.<\/p>\n<p>\u00a0<\/p>\n<p><em><strong>#GhanaPolls2024<\/strong><\/em><\/p>\n<p><em><strong>#CitiVerify<\/strong><\/em><\/p>\n<p><em><strong>#ElectionBureau<\/strong><\/em><\/p>\n<p>\u2014\u2013<\/p>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU<\/strong>: <strong>https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spam, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ghana\u2019s insurance industry recorded a substantial 22% growth in its investment assets in 2023, reaching a total value of GH\u20b510.5 billion, up from GH\u20b58.6 billion in 2022, according to the latest Bank of Ghana\u2019s 2023 Financial Stability Review report. Ghana\u2019s Insurance industry seems to have weathered the storm of the COVID-19 pandemic and the domestic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":241773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-241772","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana\u2019s insurance industry records 22% growth in investments assets - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/30\/ghanas-insurance-industry-records-22-growth-in-investments-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana\u2019s insurance industry records 22% growth in investments assets - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Ghana\u2019s insurance industry recorded a substantial 22% growth in its investment assets in 2023, reaching a total value of GH\u20b510.5 billion, up from GH\u20b58.6 billion in 2022, according to the latest Bank of Ghana\u2019s 2023 Financial Stability Review report. 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