Wapic Insurance Company Limited has told Citi Business it has grown by over 40 percent in the first half of the year.
Wapic Insurance was among the first companies to recapitalize ahead of the date set by the National Insurance Commission (NIC) for all insurance companies to recapitalize by a set date.
Speaking to Citi Business News, the Managing Director of Wapic Insurance, Adedayo Arowojolu stated that the company has been able to expand its operations after it recapitalized.
“Base on our performance we have grown by 40 percent compared to what were able to do last year, and you that Wapic is among the few companies that was able to meet the recapitalization requirement ahead of time,” he said.
He stated that Wapic has positioned itself with innovative products that would push the company to achieve its target.
“I think the best thing about Wapic is that we are able to bring to our customers innovative products that mean a lot to them and make them identify with our brand,” he said.
Touching on how the recapitalization has optimize Wapic Insurance’s operations, Mr. Arowojolu stated that the company is set to undertake high project works to sustain its mark in the insurance industry.
“What the recapitalization does is that it gives insurance companies the capital to meet their obligations. Base on what NIC is doing for the industry we will be able to meet risks,” he said.
He stated that Wapic has proved to its customers that it can undertake high budget products as it meets the growing demands of the insurance industry.
“As a result of the recapitalization, I can tell you that we have enough capital to underwrite greater risks to serve the Ghanaian market,” he said.
He stated that Wapic Insurance is poised with more innovative products to meet the demands of the industry.
By: Lawrence Segbefia/citibusinessnews.com/Ghana