By Elsie Appiah-Osei, GNA
Accra, Aug. 20, GNA – Shareholders of SIC Insurance PLC on Thursday approved a dividend of GH¢0.1022 per share for the year ended December 31, 2025.
At the 19th hybrid Annual General Meeting (AGM) held in Accra, a total of 179 shareholders voted for the motion while four voted against it, with no abstentions.
As approved, the total dividend, which now stands at GH¢20,000,000, will be paid on October 12, 2026, Mr Bernard Ahiafor, the Board Chairman of SIC Insurance PLC, announced at the AGM.
He noted that in the 2024 financial year, a final dividend stood at GH¢0.0511 per share, while 2023 was pegged at GH¢0.0511, bringing the total dividend to GH¢10,000.00.
Mr Ahiafor, also the First Deputy Speaker of Parliament, touching on the group’s revenue for the year under review, said a total insurance revenue of GH¢598,188,744 was recorded.
“This represented a meaningful growth from GH¢559,483,192 in the prior year. This performance reflects the sustained confidence of our policyholders in the SIC brand, the continued diversification of our product offerings, and the growing relevance of insurance as a cornerstone of financial resilience for businesses and individuals across Ghana,” he said.
The Chairman noted that on profitability the group recorded a profit before tax of GH¢117,744,307 for the year.
He explained that this was a notable improvement over the GH¢83,205,619 reported in 2024, representing year-on-year growth of approximately 41.5 per cent.
“After accounting for income tax and the growth and sustainability levy totaling GH¢33,691,243, the group delivered a profit after tax of GH¢84,053,064, compared to GH¢53,413,669 in the prior year, an increase of approximately 57.4 per cent,” he stated.
He said total shareholders’ funds grew to GH¢786,280,583 as of December 31, 2025, up from GH¢670,378,999 in the prior year, an increase of GH¢115,901,584, representing growth of approximately 17.3 per cent.
“The group’s return on shareholders’ funds stood at 10.69 per cent for the year, compared to 7.97 per cent in the prior year.
“The board remains committed to driving this metric progressively upward as our transformation agenda continues to deliver results,” he added.
Mr Ahiafor explained that basic earnings per share improved significantly to GH¢0.4296 for the year, compared to the GH¢0.2730 in 2024, an increase of approximately 57.4 per cent, reflecting the direct translation of SIC Insurance PLC’s improved profitability into tangible and growing value for each ordinary shareholder.
“In furtherance of our commitment to responsible corporate citizenship, SIC Insurance PLC invested GH¢1,270,991 in corporate social responsibility activities during the year ended December 31, 2025, representing a notable increase of approximately 26.5 per cent over the GH¢1,005,005 expended in the prior year,” he said.
He said as the group looked ahead, strategically, it was the focus of the board and management for the year to be anchored on accelerating technology deployment, deepening market penetration among underserved segments, optimizing investment portfolios, and advancing their sustainability agenda.
Mr James Agyenim-Boateng, the Managing Director, SIC Insurance PLC, said the company would continue to invest in their people, cultivating a high-performance culture that attracts, retains, and develops the finest talent in the industry.
“We will deepen our market penetration, targeting underserved segments and expanding our distribution channels to bring the benefits of insurance to a broader cross-section of Ghanaians.
He also said the company would pursue disciplined growth in its investment portfolio, optimising returns while maintaining the prudent risk posture that had underpinned its financial resilience.
GNA
Edited by Christabel Addo
Reporter: Elsie Appiah-Osei, GNA
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