SIC Insurance PLC has recorded a strong financial performance for the 2025 financial year, with profit after tax increasing by more than 57 percent to GH¢84.05 million, up from GH¢53.41 million in 2024.
This represents a 57.3 percent increase in profitability over the period. The company’s profit before tax also rose significantly, from GH¢83.21 million in 2024 to GH¢117.74 million in 2025.
Speaking at the company’s Annual General Meeting, Board Chairman Bernard Ahiafor says the growth was supported by higher insurance revenue and improved investment income.
“This performance reflects the sustained confidence of our policyholders in the SIC brand and continued diversification of our product offerings and growing relevance of insurance as a cornerstone of financial resilience for businesses and individuals”, he said.
According to the company, fire insurance business remained the largest contributor, generating about GH¢209.54 million, followed by motor insurance with GH¢178.84 million.
At the Annual General Meeting, shareholders approved a dividend of 10.22 pesewas per share, translating into a total dividend payment of GH¢20 million.
SIC Insurance also recorded stronger returns from its investments.
Investment income increased from GH¢36.28 million in 2024 to GH¢46.77 million in 2025, supported by returns from fixed deposits, treasury bills and bonds.
The company’s total assets stood at GH¢1.53 billion at the end of 2025, while equity attributable to shareholders reached GH¢786.28 million.
SIC’s capital adequacy ratio also stood at 222.68 percent, well above the regulatory minimum of 150 percent.
The company says the results demonstrate continued growth in its core insurance business and investment portfolio.
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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