Reinsurance Arrangement and Partners

The operations of GLICO General are secured by a complex series of carefully arranged treaty reinsurances with both local and foreign reinsurance companies.  The company also has a panel of reinsurers with which it places businesses beyond its treaty.Below are the listings of our reinsurance partners: 

Munich Re is a leading reinsurance company headquartered in Munich, Germany. It is one of the world’s leading reinsurers and are represented all over the world. Munich Re employs over 43,428 people around the world.

Swiss Re The Swiss Re is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer operating over a period of 154 years. Founded in December 1863, Swiss Re employs over 14,053 people around the world. The company is headquartered in Zurich, Switzerland.

African Reinsurance Corporation, together with its subsidiaries, provides reinsurance solutions to the insurance sector in Africa and internationally. The company was founded in 1976 and is based in Lagos, Nigeria. Rated “A” by A.M. Best in 2017.

Ghana Reinsurance Company Limited Ghana Re is a “home-grown” successful reinsurance company in Ghana with over 44 years’ experience in reinsurance business and a proven track record of providing world-class reinsurance services to local and international markets.

WAICA Reinsurance Corporation Plc is a public limited liability company incorporated under the laws of Sierra Leone (Companies Act 2009) on 7th March 2011. The Corporation has an authorized share capital of $100 million and a paid up share of approximately $65 million.

GN Re is a homegrown reinsurance company and a subsidiary of the Group Nduom. Over a period of 3 years of operations, GN Re has grown their initial stated capital of GHS80 million to GHS121 million in 2017.

Alltrust Insurance Company Limited provides property and casualty insurance products and services. It offers insurance, reinsurance, and fund management services. The company was founded in 2004 and is based in Shanghai, China. Alltrust Insurance Company Limited operates as a subsidiary of China Huaneng Group.

Continental re is a world-class pan-African service reinsurer incorporated in Nigeria in 1985 and wrote a gross premium income of NGN22.4 billion as at 2016.

ZEP-RE (PTA Reinsurance Company) underwrites life and non-life reinsurance risks in Kenya, Ethiopia, Tanzania, Zimbabwe, India, Uganda, and Sudan. The company offers property, casualty, motor, marine, aviation, life, and medical insurance products. ZEP-RE (PTA Reinsurance Company) is headquartered in Nairobi, Kenya.

PICC Property and Casualty Company Limited is principally engaged in the provision of property and casualty insurance products. Incorporated 2003, PICC records a total revenue of HKD362.70bn and a net income of HKD23.43bn. PICC was our main reinsurer when we provided cover for the construction of the BUI Dam.

Fire and Allied Perils Policy

Did you know that sections 183 and 184 of the Insurance Act 724, make it compulsory for all private buildings under construction or completed and used for commercial purposes to obtain Fire insurance?

Our Fire and Allied Perils policy has been designed to cover losses or damages to your property resulting from Fire, Explosion [specifically of gas used for domestic purposes] and Lightning. It also covers loss or damage arising from such perils as Impact, [usually by vehicles or animals], riot & strike, bursting or overflowing of water tanks, apparatus or pipes, flood, earthquake, hurricane, tornado, windstorm, cyclone, aircraft or any other aerial device.

Your legal liabilities as owner of the premises in respect of loss of or damage to property, bodily injury or death suffered by third parties are also covered up to a limit of GHC20,000.

Such properties as office equipment, stocks, raw materials, furniture and fittings, plants and other equipment may also be covered.

With the GLICO General Fire and Allied Perils Policy, you would not only become compliant with the legal requirements but have peace of mind; rest assured that your property is secure.