SIC Insurance PLC recorded a profit after tax of GHS 84.05 million for the 2025 financial year. This figure marks a substantial 57.3 percent increase from GHS 53.41 million in 2024. The company also declared a dividend of 10.22 pesewas per share for its investors.
This impressive growth stemmed from higher insurance revenue and improved investment income. Profit before tax also rose significantly, reaching GHS 117.74 million in 2025 from GHS 83.21 million in 2024. This performance highlights the company's strong operational efficiency and strategic financial management.
This financial achievement by SIC Insurance PLC occurs within a dynamic Ghanaian economic landscape. Ghana's financial sector recently hit a GHS 647 billion milestone, indicating robust growth. Pension assets also surpassed GHS 100 billion, strengthening overall financial stability. These broader trends provide a supportive environment for insurance companies like SIC.
Board Chairman Bernard Ahiafor attributed the growth to sustained policyholder confidence and product diversification. He stated, “This performance reflects the sustained confidence of our policyholders in the SIC brand and continued diversification of our product offerings.” Mr. Ahiafor also emphasized insurance's growing relevance as a cornerstone of financial resilience.
The company's strong results will likely bolster investor confidence in Ghana's insurance sector. This performance could encourage further investment and expansion within the industry. Decision-makers will observe how this growth impacts the broader financial market and regulatory landscape. The insurance sector's contribution to Ghana's economic stability remains a key area to watch.
Fire insurance business was the largest contributor to revenue, generating approximately GHS 209.54 million. Motor insurance followed closely, adding GHS 178.84 million to the company's income. These core business lines continue to drive SIC's profitability and market presence.
SIC Insurance also saw stronger returns from its investment portfolio. Investment income increased from GHS 36.28 million in 2024 to GHS 46.77 million in 2025. These returns came from fixed deposits, treasury bills, and bonds, showcasing diversified investment strategies. This diversified income stream provides stability and contributes significantly to overall profit.
The company's total assets stood at GHS 1.53 billion at the end of 2025. Equity attributable to shareholders reached GHS 786.28 million, indicating a strong balance sheet. SIC's capital adequacy ratio was 222.68 percent, well above the regulatory minimum of 150 percent. This demonstrates robust financial health and compliance with regulatory standards. The company's continued growth in its core insurance business and investment portfolio underpins these strong figures. This solid financial footing positions SIC Insurance for future expansion and resilience in the market. The approved total dividend payment amounted to GHS 20 million, reflecting a direct benefit to shareholders.