10 Best Insurance Companies in Ghana

First of all, I think you’ll agree with me when I say;

It’s really hard to find a reputable insurance company in Ghana that can serve your needs and not only focus on the premium you pay them, right?

However, even though not so easy, you can still have a handful of the best insurance companies in Ghana that puts you first.

In this guide, we have listed the top 10 insurance companies in Ghana.

Our criteria for choosing them are based on;

  • Customer review (how satisfied were their customers) 
  • Their online presence, (they must have a genuine website)
  • And, how user-friendly their website is.

However, when you choose a company from our list, you can still ask your financial advisor or your close relation, or even a broker in Ghana if it is right for you.

Before we go deep into these insurance companies, let’s learn what they really do.

What Insurance Companies In Ghana Do

An insurance company offers the policyholder investment security, in case of an uncertain event like an accident, theft, death, or disablement. 

Further, the policyholder has to pay a monthly or annually little fee known as a premium to make sure these benefits are paid by the insurer.

A policyholder is a customer (which could be you) that purchases an insurance policy from an insurer (insurance company).

How Insurance Companies in Ghana Make Money

Best Insurance companies in Ghana make money in two ways; from the client’s premium, and reinvesting the premium to strong assets like real estate, bonds, and stock.


For instance, let’s assume Enterprise Insurance Company earned ₵80 million through premiums in 2020 and paid ₵50 million in claims. That means, their profit from premium in 2020 alone is ₵30 million. 

For this to work, they’ve to take risks. 

They are risking that you won’t die anytime soon. In fact, their greatest prayer is that you won’t die at all so you’ll continue paying the premium and they won’t have to pay your beneficiaries, death benefits.

They are risking that your car won’t get stolen nor crashed, they are risking that your house won’t get burned or your properties won’t get stolen.

But to risk all this, the best insurance companies in Ghana go a long way to make sure their assumption is in their favor.

They have to make sure you qualify for an insurance policy, before accepting your underwriting.

For instance, in a life insurance policy, these companies have to check your age, your health condition, your smoking status, and so many other things. If they find out it is too risky to give you a life insurance policy, they will either charge you a higher premium or deny you the policy.


These best insurance companies in Ghana go further to invest in solid investments.

With the premium of clients, they reinvest it in other sources to increase their revenue.

Further, customers don’t request claims immediately, so this allows the insurer to invest in a long-term market that will produce a better result.

However, if the market goes rogue, their way of escape is normally to increase the premium price, and customers have to pay for it.

To that effect, let’s see the best insurance companies in Ghana.

Best Insurance companies in Ghana 

1. Enterprise Insurance Company Ltd

Enterprise insurance company Ltd is not just the oldest insurance company in Ghana, it’s also one of the first best insurance companies in Ghana.

It was established in 1924 and took its root in the Royal Exchange Assurance Corporation of the United Kingdom. It went ahead to commence business in the Gold Coast in 1924, then became Guardian Royal Exchange Assurance Ghana Limited, (GREG) and subset, Enterprise Insurance Company Limited.

EIC Products

Becoming one of the best insurance companies in Ghana means you have to have what most individuals necessarily need. And, EIC just does that, it has diverse products, both for personal and corporate.

  • PetInsure (Pet Insurance)

One amazing thing about this insurance is it doesn’t only cover the pet it also covers the caretaker or owner of the pet. These pets could either be personal dogs, security dogs, dog breeders, or veterinary service providers.

  • Home Advantage

This is a combination of home content with pet insurance. 

That is, if you have valuable content in your home (which I believe you do) and pet(s) you might want to consider taking affordable combined insurance for them. It offers a better discount if you take the combined insurance policy.

  • Third-Party Amplified (Enhanced Motor Third Party)

When you’re found guilty of an accident, this policy covers the third party’s vehicle alone. It takes care of only three areas in their vehicle; windscreen, side mirrors, and minor scratches.

  • Motor Insurance

EIC has three covers under motor insurance; 

  1. Third-Party Only: This covers for injuries or death of the third party if you’re found guilty of an accident.
  2. Third-Party, Fire, and Theft: this covers both the third-party policy and your vehicle in case of a fire outbreak or even stealing of your car.
  3. Comprehensive: This takes care of the previously mentioned covers plus accidents to your vehicle. 
  • Home Insurance

This covers your physical home from unforeseen circumstances like; robbery, earthquake, lightning, tornado, or windstorm.

  • Assets All Risk

This is specially designed for corporate clients that want a full package that covers a big risk range. This includes loss due to accidents or damage to the client’s property.

There are other insurance policies EIC has which include;

  • Travel Insurance
  • Personal Accident
  • CompExtra (Enhanced Motor Comprehensive policy)
  • Employers Liability
  • Erection All Risk
  • Fidelity Guarantee
  • Product Liability
  • Electronic Equipment Insurance 
  • Consequential Loss or Business Interruption
  • Professional Indemnity

And many more

EIC Contacts

  • Address 

Advantage Place, Mayor Road, Ridge West, Accra, Ghana

  • Tel

Call Center: +233 302 634 777

Cell Number: +233 54 823 1149 

Cell Number: +233 20 495 4801

  • WhatsApp


  • Email



2. Vanguard Assurance Company Ltd

Vanguard Assurance is one of the best insurance companies in Ghana that was established in 1974 as a composite insurance company. Also, it is the first private indigenous insurance company in Ghana.

When Vanguard started it only offered life and fire policies but now it has major life and non-life insurance policies.

However, Vanguard Assurance which is a subsidiary of Vanguard Group only focuses on non-life policies.

Vanguard Assurance Products

  • Motor

Just like EIC, Vanguard also offers three types of policies for car insurance: Comprehensive; Third party fire and theft; Third-party.

  • Marine

Vanguard marine insurance takes care of the loss or damage of clients’ cargo and ships. Vanguard’s marine policies are grouped into 3 which include.

  1. Marine Open Cover Policies: Automatically given to clients that frequently import and export goods by sea, air, and inland transit.
  2. Individual Marine & Cargo Policies: This is mainly for clients that prefer to take policies on particular marine items.
  3. Stevedores Legal Liability: This is a form of insurance that assists with claims related to their operations, whether they are connected to transportation terminals or do business as independent contractors.
  • Aviation

Due to the poor aviation policies in Ghana, many aviation companies get insurance policies outside Ghana, even though it has some legal implications. 

However, Vanguard Assurance focuses on giving the best to its clients by providing coverages for Hull and Engine; Spares;

Liability for passenger injuries;

Environmental damage caused by aircraft and; Third-party damage caused by aircraft accidents.

  • Bond

A bond is a contract between 3 parties; the Contractor, Guarantor, and the Principal. Vanguard Assurance is the Guarantor, providing all kinds of bonds for your business.

  • Special Products

Vanguard’s special products are focused to meet the needs of niche markets and individual risks which includes: Vanguard CICL Foreign Travel Policy; Vanguard Safe Transport; Vanguard Special Group Taxi Scheme; Vanguard 48hr Motor Insurance Service; Vanguard Honourable’s Protection Policy; Vanguard Hospital Insurance; Vanguard Ladies Kitchen Insurance.

Vanguard also has other insurance policies which include:

  • Fire
  • Engineering
  • General
  • Workmen Compensation

Vanguard’s Contacts

  • Address

No.25 Independence Avenue, Ridge-Accra 

  • Tel

(+233)244-334 407, 55-6620111, 302-213940,

0302-666485, 302-666486, 302-666487

  • Fax 

(+233) 302 668610

3. Allianz Insurance Company Ghana Ltd

Allianz Group is an international insurance company and they are one of the top insurance companies in Ghana. Allianz Group is in more than 70 countries with more than 100 million retail and corporate customers.

They are doing brilliant work, that’s why they are one of the world’s largest investors in the world, managing around €582 billion on behalf of its insurance customers.

And, in 2009, they decided to establish their company in Ghana in the non-life segment. Then, in 2018 they officially launched their life insurance segment in Ghana, which has been booming well.

Allianz Products

Allianz has a brilliant product list which makes them one of the best insurance companies in Ghana. They include:

  • Motor Insurance

50 million motorists worldwide have trusted Allianz to cover their auto insurance. If lots of people trust Allianz, then you should also trust them to give you world-class service and settle claims easily.

  • Home Insurance

Allianz home insurance covers both the physical building and its contents. When you purchase their home insurance it goes a long way to cover fire outbreaks, robbery, flood, accidental damage to your properties. 

Also, when there is loss or damage to your television, radio, and other electrical devices they will also take care of them. Your precious pieces of jewelry, clothes, and contact lenses, are not left out either.

Moreover, they will provide temporary accommodation and loss rent for up to 12 months in case your home is damaged and not habitable for a while.

They also have other home insurance packages.

  • Corporate

Allianz has a clear understanding of risks in businesses and that’s why they created a corporate insurance policy to ensure the continuity of your business. 

Their corporate insurance covers: Fire And Allied Perils; Assets All Risks; Public Liability; Group Personal Accident; Workmen’s Compensation; Agric Insurance; Contractor’s All Risks; Erection All Risks; Goods-in-transit; Marine Hull Or Cargo; Aviation; Allianz Cyber Liability Insurance.

Allianz Insurance Company also have other products, they are:

  • Travel Insurance
  • Mid-income plans (life insurance)
  • Microinsurance plans (life insurance)
  • Group plans (life insurance)

Allianz’s Contacts

  • Address

Lexta Square, No. 79 Achimota Road, Ebony Crescent (Off the Olusegun Obasanjo Highway) Accra

  • Postal Address

PMB CT 353, Cantonments, Accra

  • Tel

General: (+233) 302 764 893/94/91

Life: (+233) 302 267 892

Allianz Life (233-302) 764 891

  • Email



GLICO is loved and trusted by so many clients which makes them one of the best insurance companies in Ghana. It was established in 1987.

Furthermore, GLICO healthcare, GLICO’s subsidiary company, was awarded “The Healthcare Insurance Provider of the Year, 2018.”

GLICO’s Contact

  • Address

47 Kwame Nkrumah Ave., Adabraka, Accra

  • Postal address

GP 4251

  • Telephone

0302 246140

0302 246141

0302 246142

0302 246147

0302 258210

  • Fax

0302 258210

  • Email


5. SIC Insurance Company 

SIC is one of the non-life insurance companies in Ghana which was established in 1955. 

Moreover, SIC has an amazing app (SIC SMART SERVE APP) which makes them outstanding and one of the best insurance companies in Ghana.

SIC Products

  • Workmen’s Compensation

When an employee gets in an accident as a result of working for the employer, this insurance helps the employer compensate the worker for injuries at the workplace. 

Besides, it’s compulsory according to the Workmen’s Compensation Act 1987 to compensate any worker who is involved in an accident in your workplace. 

So having insurance to help compensate these workers is very important, and eases the money that comes from your company’s pocket. 

Furthermore, SIC Insurance Company makes provision for medical expenses to your worker as a result of the injury.

  • Engineering and Construction

SIC’s Engineering and Construction policies cover: Contractors All Risk & Erection All Risk; Machinery Breakdown & Construction Plant and Machinery; Electronic Equipment; Boiler & Pressure Vessel Insurance Policy

  • Marine Insurance

Their marine insurance makes sure goods carried on board ships or vessels and aircraft are covered. Also, it covers the insurance of ships and fishing vessels.

So they have; Marine Cargo Insurance; Marine Hull Insurance; Marine Liability Policies.

SIC has other insurance policies such as: 

  • Motor Insurance
  • Fire & Allied Perils
  • Travel Insurance
  • General Accident
  • Aviation Insurance
  • General Bonds

SIC Contacts


28/29 Ring Road East, Osu, Accra

P. O. Box 2363, Accra

  • Telephone

+233 302 780600/9

+233 302 780601

+233 302 780615

  • Email


6. Milife Insurance 

Another well-reputable life insurance company is Milife Insurance. Milife is one of the newest insurance companies in Ghana. However, they have shown incredible results since their inception (2005).

Milife has grown a premium income of more than ₵24 million in 2017, which moved them from 17th position in 2005 to 8th position in 2017. Also, They are capitalized at ₵56.8 million which makes them one of the most capitalized insurance companies in Ghana.

Milife is trusted by over 200,000 lives, making them one of the best insurance companies in Ghana.

Milife Insurance Products

  • miTribute – for Funeral Expenses
  • miLegacy – for Income Protection

And many more

Milife Contacts

  • Headquarters

Aggrey Street, Kisseman – Accra

Along the Achimota School – GIMPA road. (Near Pure Fire Church)

P.O. Box AT 1975, Achimota Market

  • Tel

024 243 9999

  • E-mail


7. Hollard Insurance Ghana Ltd

Hollard Insurance is one of the best Insurance companies in Ghana that was established in 1993 in Ghana as Madison Insurance.

Hollard Products

  • Personal Insurance
    • Personal Accident
    • Travel Insurance
    • Motor Insurance
    • Executive Insurance
    • Home Insurance
    • Burglary Insurance
    • Fire Insurance
    • Combined Fire and Burglary Insurance
  • Business Insurance
    • Group Personal Accident Insurance
    • Workers Compensation
    • Assets All Risk Insurance 
    • Goods In Transit Insurance
    • Engineering Insurance
    • Marine and Cargo Insurance
    • Business Travel Insurance 
    • Hole In One 
    • Motor Fleets
    • Business Interruption Insurance
    • Fidelity Guarantee

Hollard Contacts

  • Address

11 Patrice Lumumba Road, Airport Residential Area

  • Postal Address

P. O. Box GP 20084, Accra, Ghana

  • Tel

+233 302 220966

8. Metropolitan Life Insurance

Metropolitan Life Insurance is one of the few companies in Ghana that has a ‘NO PREMIUM PAYMENT AT RETIREMENT’ policy. 

This means that, when the policyholder dies, his beneficiaries will immediately receive cash to finance the funeral. This is one of the reasons they are one of the leading Insurance companies in Ghana.

Metropolitan Products

  • Family Eternity Plus

This policy helps cover the beneficiaries with immediate funeral funds in case the policyholder dies.

You can even choose riders like: 

Forty Days Celebration Benefit;

1st Anniversary Celebration Benefit;

Hospital Cash Benefit;

Savings Benefit;

Automatic Inflation Management (AIM) Benefit.

Most importantly, you have the option to cover all your family members which parents, and in-laws can be included.

  • Cash Plan Plus

This plan is very interesting for those interested in investments. This plan helps you to accumulate wealth over the years so you can be able to finance your dream project.

And you can get the premium as low as ₵50. Also, there are free death benefits in case the policyholder dies while saving.

  • Master Plan Plus

This policy is a mixture of risk, investment, and medical insurance. It goes a long way to cover lots of beneficiaries: Your nuclear family, extended family, parents, and parents-in-law.

There are other products offered by Metropolitan Life Insurance like: 

  • Education Assurance Plus
  • Goal Achiever Plus
  • Credit Protection Assurance
  • Group Welfare Assurance
  • Employee Benefits Assurance

Metropolitan’s Contacts

  • Address

81 Tabon Link, North Ridge Crescent

(Behind DHL Ghana)

  • Postal Address

PMB CT456 Cantonments, Accra, Ghana

  • Tel

+233 (0) 302 633933

  • Email


9. Phoenix Insurance Company Ltd

Phoenix is one of the best Insurance companies in Ghana that was established in 1995 under the company’s Code of 1963 (Act 179)

Phoenix’s Products

  • Motor Policies
  • Fire Policies
  • Accident Policies
  • CEPS Bonds
  • Fire Policies
  • Contractors Bonds
  • Marine Cargo Policies
  • Underwriting Support

Phoenix’s Contacts

  • Address

House No. 244/3, 6th Ringway Estates.

  • Postal Address

P. O. Box 17753, Accra – Ghana

  • Tel

233-302-246319, 246322, 246644


  • Email


10. Donewell Insurance Company Ltd 

Donewell was established in Ghana in 1988 and was registered as an Insurer by the National Insurance Commission on 26th February 1993.

Donewell’s Policies

  • Motor Insurance
  • Fire and Allied Perils
  • Personal Accident
  • Bonds
  • Money Insurance
  • Fidelity Guarantee

Donewell’s Contacts

  • Head Office

F333/1 Carl Quist Street,

Kuku Hill, Osu RE Accra

  • Postal Address

P.O. Box GP2136, Accra Ghana, West Africa

  • Telephone

+233 – (0) 302-763-065

+233 – (0) 302-763-171

  • Fax

+233 – (0) 302-760-484

  • Email



I believe this list will help you to choose the right insurance company for you. 

Now I want to turn it over to you, which company will you get their quote from first?

Are you going for the first insurance company in Ghana, Enterprise Insurance Company?

Or, one of the newest companies that are disrupting the best insurance companies in Ghana, Milife insurance?

Either way, let me know by dropping a comment below.

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