Several businesses that were previously taken from the State Insurance Company (SIC) and handed to private insurers under the Akufo-Addo administration have now returned to the state insurer, according to SIC Managing Director James Agyenim-Boateng.
According to him, the return of these businesses is not simply because there is a new government in place. Rather, it is the result of deliberate efforts by the current management to convincingly demonstrate why those businesses rightly belong with SIC.
It will be recalled that some policy analysts, including Dr Steve Manteaw, had earlier called on the Finance Minister, Dr Cassiel Ato Forson, to ensure that all government-related insurance businesses transferred to private firms were restored to the State Insurance Company.
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Responding to questions at a press conference in Accra on Friday, December 12, Agyenim-Boateng confirmed that some of the businesses have indeed come back. He explained that the challenges SIC faced over the past eight years were not due to a lack of skilled personnel or commitment.
He added that management has been working tirelessly to reclaim key accounts and is pleased with the progress made so far.
Agyenim-Boateng stressed that the company is not regaining these businesses because the political environment has changed. Instead, SIC has been actively making strong presentations, justifying its capacity, and backing its case with a solid performance history.
“The businesses given to private firms were something that ran through the last eight years. What I have said at every single forum that I have had an opportunity to speak at is that SIC went through those days not because they did not have the right calibre of personnel or commitment.
“We had the best of professionals, but I think that circumstances at the time were such that they just were insurmountable as a result of what you and I know, obvious obstacles.
“Fortunately, we are working very hard to get some of these key accounts. I’m happy to announce that we have quite a number of them back. We are not getting these things back simply because things have turned; we are getting these things back because we are also making a pitch,” he said.
