0322040045
- Ghana
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- Quality Insurance Co. Ltd.
Quality Insurance Co. Ltd. - Kumasi
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Company name
Quality Insurance Co. Ltd.Location
Apino Plaza, Nhyiaeso, Kumasi, Ghana
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Company description
In 1996, the Catholic Bishops’ Conference under the Companies Code of 1963 (Act 179) incorporated Quality Insurance Company Ltd. The Company was licensed by the National Insurance Commission as a composite Insurance Company.
In 2006, the new Insurance Act (Act 724) made it mandatory to establish a Life Company (Quality Life Assurance Company Ltd – QLAC) to manage the Life portfolios of insurance companies. This meant that QIC now underwrites only Non-Life insurance businesses. In order to preemptively meet that requirement, the sole shareholder, the Catholic Bishops’ Conference of Ghana successfully offloaded 40% of shareholding through a private placement in 2005 to individuals and groups. The change in the shareholding structure and objects in the face of the nuances in the
In 2006, the new Insurance Act (Act 724) made it mandatory to establish a Life Company (Quality Life Assurance Company Ltd – QLAC) to manage the Life portfolios of insurance companies. This meant that QIC now underwrites only Non-Life insurance businesses. In order to preemptively meet that requirement, the sole shareholder, the Catholic Bishops’ Conference of Ghana successfully offloaded 40% of shareholding through a private placement in 2005 to individuals and groups. The change in the shareholding structure and objects in the face of the nuances in the