State Insurance Company Increases Dividend from GH¢10m to GH¢20m

The State Insurance Company (SIC) has increased its dividend payment from GH¢10 million in 2023 and 2024 to GH¢20 million, according to the company’s Board Chairman, Hon. Bernard Ahiafo.

Speaking at the SIC Annual General Meeting (AGM) 2026, Mr. Ahiafo attributed the increase to the performance of the company following the assumption of office by the current board.

Dividend Doubles to GH¢20 Million

According to Bernard Ahiafo, SIC paid GH¢10 million in dividends in both 2023 and 2024. Under the current board, however, the dividend has increased to GH¢20 million.

“Dividend increased from GH¢10m in 2023 and 2024 to GH¢20m after we took over,” Bernard Ahiafo, Board Chairman of SIC, stated.

The development represents a significant increase in the amount being returned to shareholders through dividend payments.

SIC Board Highlights Performance

The announcement formed part of discussions at the SIC AGM, where the company’s performance, financial position and outlook were reviewed.

The increase in dividend is expected to attract attention from shareholders and stakeholders as the company continues efforts to strengthen its operations and improve returns.

Focus on Growth and Shareholder Value

The SIC Board has emphasized the importance of improving the company’s performance while creating sustainable value for shareholders.

The increased dividend payment is being presented as one of the notable developments under the current board’s tenure.

As SIC continues its operations in Ghana’s competitive insurance industry, stakeholders will be watching closely to see whether the company can sustain the improved performance and dividend levels in subsequent financial years.

SIC’s dividend has increased from GH¢10 million in 2023 and 2024 to GH¢20 million in 2026, according to Board Chairman Bernard Ahiafo, highlighting what the board says is improved performance under its leadership.