State Insurance Corporation was incorporated in February 1962 by Executive Instrument (E.I) No.17, which was passed under the Statutory Corporation Act, 1962 (Act 232). It was born out of the Ghana Insurance Company, its subsidiary Ghana General, and the Ghana Co-operative Insurance Society Limited. It was established as a body corporate by L.I. 424 of 1964 with an initial paid –up capital of 1 million pounds.

On August 28, 1995, the Corporation was converted into a Public Limited Liability Company and renamed State Insurance Company of Ghana Limited. It was re-registered under the Companies’ Code, 1963 (Act 179) and currently has a paid up capital of ¢25 billion.
SIC is further regulated by the Insurance Law 1989 (PNDCL. 227), its subsidiary LI 1502 and its own internal regulations.

KEY DEVELOPMENTS

• SIC Share Floatation Launched at Tarkwa