The Insurance Company of Africa (ICA) has vowed to make Liberia an insurance friendly environment through its (ICA) policies and programs that will benefit the country and its people.
Speaking at the company’s 50th anniversary celebration, Mr. Samuel O. Mintah, Chief Executive Officer (CEO) said the developmental strides of ICA are aimed at making Liberia a major insurance zone within the West African sub region.
Mr. Mintah said Liberians deserve an insurance company that covers many sides including nationwide home, small business and auto insurance, as well as retirement products and financial resources.
Mintah noted that Liberia needs to be in line with other nations that have insurance policies that helps develop the minds of the people and contribute to the economy.
“We from the ICA stand ready to put Liberia on par in the Insurance sector with other nations around Africa and the world at large,” He said.
He further named the acquisition of several properties as one of the major successes scored by the company over the years.
“In 1969, ICA was a Monrovia based company but today, ICA is in every county and every district; serving over 20,000 individual life policyholders and over 60 corporate clients spread throughout the districts and counties of the country,” said Mintah.
At the program held over the weekend Monrovia, Mr. Mintah said while there have been some major challenges, especially as those posed by the 14-year civil war, the company has made great strides to improving its services.
Giving highlights of the company’s achievements, Mintah named the decentralization of ICA to all 15 counties and all districts of the country as one of its major achievements.
According him, with the decentralization, ICA is no longer a Monrovia-based company.
Between 1969 and 2011, [for a period of 42 years], ICA operated from leased premises, but now (from 2011), ICA operates from its own premises. It cost us US$850,000 from our resource to put it up. Now evaluation puts it at 1.5 million,” he said.
Mintah named the high number of trained staff of the ICA as part of the company’s achievements over the years.
“In 1969 up to the war in 1990, ICA did not have a hand-full of trained personnel, but ICA has the highest number — 15 plus — of trained insurance staff from West Africa Insurance Institute (WAII) in the industry. Currently we have a chartered insurer and there are two others who have passed four of the professional qualification exams with London ACII, leading to chartering,” he accounted.
Mr. Sirleaf Tyler, Deputy Minister for Insurance, Ministry of Transport, congratulated ICA for the “good job done” over the year.
“The MOT is elated to celebrate with you. Your service delivery has been second to none. You have settled 80 percent of your automobile claims,” he added.