Top 10 Insurance Brokers In Ghana

5 June, 2018

Source: National Insurance Commission,

Ghana 2016 68 Insurance brokering companies that operated in Ghana in 2016 earned Income of GHC 73,144,221 in 2016 representing growth rate of 12%.

According to the Latest industry financial report released by the National Insurance Commission (NIC) indicated that 64% of this income was contributed by the top 10 brokers which stood at GHC 45.1 million. The report also shows that KEK Insurance brokers and Edward Mensah Wood and Associates maintained their position as market leaders by contributing GhC 15 million and GHC 6 million respectively.

Their Contribution represent 33% and 13% respectively to retain the first and second positions in the sector. Gras Savoye now (Willis Watson Towers Ghana Limited), Safety Insurance brokers and Crown insurance Brokers improved on their 2015 performance to third, fifth, and ninth positions respectively. However, Horizon decline to seventh position from their 2015 performance, Whiles Midas Insurance Brokers pulled a surprised one by making it to the top 10 with an income of excess of GHC 2 million; represent 5% of the market share for 2016. 2016 Performance Of Brokers

Tri-Star and Crown Insurance Brokers Limited both maintained their sixth and ninth position as in the prior year. In this analysis those companies not included in the figures from the 10 newly licensed brokers are because they are startups and were not inactive during the year. However, some brokerage practitioners explained that KEK Reinsurance Brokers, though don’t do direct brokering business with the insuring public.

They indicated that the company deals directly with insurance and reinsurance companies. In view of this some of the brokers pointed out that they should have been left out of the top 10 Brokers. The Brokering Practitioner indicated that KEK Reinsurance Brokers at the close of the 2016 accounting year was the only reinsurance broker licensed to operate in Ghana insurance market. Currently, one other reinsurance broker has joined, 2016 Performance Of Brokers

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