Business News of Sun, 8 Apr 20187
Governmemt creating environment for insurance companies to thrive – Bawumia
Vice President Dr Mahamudu Bawumia has assured investors of government’s resolve to create an enabling environment for their businesses to grow and create avenues for employment.
He said to this end, government is undertaking the necessary structural and economic reforms in order to create a solid base for the accelerated take off of the economy while maintaining macro stability.
The Vice President gave the assurance when Dr Christof Mascher, the Global Chief Operating Officer of financial services provider Allianz SE, and other senior management of the company paid a courtesy call on him at the Jubilee House, on Friday.
The Allianz Group is a global financial services provider, headquartered in Munich, Germany, with services predominantly in the insurance and asset management business.
It is the world’s largest insurance company and the largest financial services company with 86 million retail and corporate clients in more than 70 countries.
In Africa, Allianz is currently present in 17 countries and accompanies clients in 38 countries. Allianz Ghana is a 100% wholly owned subsidiary of Allianz Group which began operations in 2009
It currently has operations in 7 Regions in Ghana namely Greater Accra, Ashanti, Western, Eastern, Northern, Volta and Brong – Ahafo.
“We are happy to see Allianz here; this is a good time to be in Ghana,” Dr Bawumia stated.
“We want a growing and strong economy, and this goes hand in hand with insurance. We remain committed to our resolve to make Ghana the most business-friendly country in Africa, and we are working hard to put the necessary building blocks in place.
He added that government has already implemented a national digital property addressing system noting the national ID card is just about to be issued and financial interoperability will all be launched to make payments easier than ever.
According to him, the issue of land is being addressed by a task force as such "we intend to digitise land records and eventually create a mortgage market and other financial instruments. So we expect you to expand your business and grow in Ghana.”
Dr Mascher indicated his company’s desire to learn from Ghana in its global expansion drive and outlined plans to further expand its operations after it was granted the licence to offer Life Insurance packages.
The Regional CEO for Africa, Dr Coenraad Vrolijk, disclosed that as part of Allianz’s Africa growth plans, a number of Africans including Ghanaians, are being trained to undertake underwriting operations.
This will direct create jobs and will help push the company’s expansion drive, he explained.
Dr Christof Mascher was accompanied by Delphine Maidou Traore, Regional COO, Africa; Arikal Pramod, Head of Technology, Allianz Africa; Patrick Prado, CEO of Allianz Life Insurance Company of Ghana; Darlington Munhwani, CEO of Allianz Insurance Company of Ghana.
Also in attendance were Manja Kollmann (Executive Assistant to Group COO) and some management staff of Allianz Insurance Ghana including John Mensah, Chief Operating Officer; Isaac Adomako, Chief Finance Officer; and William Annor Adu, Head of Business Development