By Solomon Lartey, President of CIIG The Chartered Insurance Institute of Ghana (CIIG) recently held its Educational Conference and Annual G...
By Solomon Lartey, President of CIIG
The Chartered Insurance Institute of Ghana (CIIG) recently held its Educational Conference and Annual General Meeting (AGM) in Takoradi, Western Region, with the theme 'Balancing the Compliance, Ethics and Business Sustainability Equation'.
Head of the CIIG, Solomon Lartey, in a speech, highlighted:“Compliance ensures that organiOrganizations function within the limits of legal and regulatory frameworks. However, as observed across various sectors, merely following the law is no longer sufficient. Ethical leadership requires a more profound dedication to fairness, responsibility, and appreciation for the wider social and environmental setting in which businesses operate. Ethics give meaning to compliance, turning it from a requirement into a cultural value.
He also emphasized the importance of sustainability in defining the future of the insurance industry.Sustainability completes this equation. It challenges organizationsEncouraging organizations to consider beyond immediate profits and to adjust their business strategies with the long-term health of society. Genuine sustainability goes beyond just minimizingsing harm, but instead about generating mutual value—enhancing the bond of trust between companies and the communities they engage with.
In addition, Dr. Justice Ofori, former Commissioner of Insurance and Guest of Honour, called on professionals to maintain the highest ethical values and standards, emphasizing that integrity and professionalism are the foundation of a successful insurance sector. His message highlighted the importance of ongoing learning and following international best practices to ensure public trust and industry reputation.
The Guest of Honor, Nana Kobina Nketsia V, the Traditional Leader (Omanhen) of Essikado (British Sekondi), gave an impactful speech, encouraging insurance professionals and firms to act in the best interest of their communities, emphasizing: “Success in business should result in positive societal impact.”
His comments emphasized the conference's main idea, highlighting to those involved that the true indicator of advancement is the beneficial effect companies generate for society.
This top-level meeting provided a strategic forum for discussion among industry executives, insurance firms, brokerage companies, and regulatory representatives, all dedicated to influencing the future of Ghana's insurance sector. The conference centered on tackling new challenges related to compliance and ethical practices, while examining creative solutions to maintain lasting business viability in a more competitive and regulated setting.
Professionals provided perspectives on integrating regulatory adherence with ethical approaches without affecting financial success.
Discussions also addressed the importance of strong systems to build customer confidence and improve operational clarity.
By uniting various viewpoints, the CIIG has reinforced its position as a driver for career advancement, ethical behavior, and long-term growth in Ghana's insurance sector. The conference results are anticipated to shape policy trends, corporate management approaches, and training programs in the coming months.
In line with CIIG's dedication to corporate social responsibility (CSR), the organization, together with the Association of Young Insurance Professionals (YIPS Ghana), paid a visit to Bompeh Secondary Technical School. The initiative sought to inform students and faculty about the significance of insurance in daily life and inspire the students to explore career opportunities within the insurance sector.
Among the notable speakers were Mr. Bernard Ohemeng-Baah, Deputy Commissioner of Insurance; Mr. Solomon Lartey, President of CIIG; Mr. Lawrence Daniels, Country Director of YIPS Ghana and PRO of CIIG; Mrs. Mercy Boampong, CEO of Serene Insurance; and Mr. Sikapa Kofi Agyei, General Secretary of YIPS Ghana.
Other speakers included Mr. Shaibu Ali, President of the Insurance Brokers Association of Ghana and MD of KEK Insurance Brokers; Madam Nicholina Naa Yeye Adumuah, President of CILAG; Mr. Stephen Kwarteng Yeboah, MD of Olea M&G Brokers; and Mr. Abubakari Salifu, General Manager of Priority Insurance.
As part of the community engagement efforts, the school obtained chairs and tables from the CIIG and gifts contributed by Coronation Insurance, MiLife Insurance, and Sunu Assurances. Students were introduced to the fundamentals of insurance, its advantages, and potential career paths within the industry, supporting CIIG’s goal of enhancing knowledge and preparing for the future of insurance in Ghana.
The event encouraged cooperation between insurance companies, agents, and related experts, generating opportunities for development and stability within the industry.
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