Since then, it has endeavoured to live up to the pedigree of its Nigerian parent Company which has been in existence for the past 20 years and now has an authorized Capital of US $30 million and current shareholders funds of over USD $78 million.
Our corporate vision is to be one of the leading African Insurance Group.
Our corporate mission is to establish an Insurance Company that would be a reference point in excellent claim settlement services. This would be achieved through a well- motivated workforce, cutting edge office technology and good business ethics.
Our core values are Caring, learning, integrity, creativity, excellent customer service and promptness.
Apart from its Accra Head Office, the Company presently also has branches in Spintex Road in Accra, Tema, Kumasi, Takoradi, Koforidua and Sunyani.
Equity assurance Limited éa is one of the fast growing Insurance Companies in Ghana with Premium income for the year 2014 of GHC 15.7M, 2013 was GHC 12.6M and in 2012 premium income was GHC 10.7M respectively.
Equity assurance Limited éa is a member of the Ghana Club 100
The Company offers Insurance cover for Fire, Business interruption, Motor, a full range of accident cover (Personal Accident Policy, Workers’ Compensation Policy, Burglary Policy, Fidelity Guarantee, Money Insurance Policy, Goods in Transit, Public Liability Policy), as well as Contract Bonds, Marine Insurance and Policies to cover Properties for Mortgages and Leasing Contracts.
In addition, it Underwrite Insurances for Oil and Gas, Aviation, Contractors’ All Risk and Factory All – Risk.
The company is a financial member of Ghana Insurance Association (GIA) as well as West African Insurance Companies Association (WAICA).
Equity assurance Limited éa has been at the helm of an initiative to pool the resources of Ghana’s primary Insurers to retain large scale risk Underwriting Businesses that hitherto had been done abroad because of Limited retentive capacities by individual Insurers.
The corporate strategy of the company is to ensure that the company would be among the first tier insurance companies in the next five years in the industry in terms of market share, product development, ensuring absolute customer satisfaction at a competitive price, and providing a satisfactory growth in the profits and values of the company, whilst working to achieve targets that give attractive returns on investments and developing its staff and associates to a level to meet the needs of the customers.
Key issues underlying the implementation of the corporate strategy and which indeed constitute the basic rationale for the strategy include the development of marketing staff/ sales representatives, and improvement and promotion of client services through:
- Customer Relationship Management
- Broker relationship management
- Other intermediary’s relationship management
- Expansion of Branch and Agency networks to cope with growing market demands
- Market Development and expansion of market share
- Implementation of an aggressive promotional strategy to market the company’s products and services.
- Ensuring and promoting customer service by raising the level of service delivery.
- Periodic analysis of the General economy and competition in the Insurance industry.
- Development of a proactive market research programme to aid the company to stay ahead of the competition.