Ghana Re holds AGM

Ghana Reinsurance Company Limited grew its gross premium by 38 per cent from GH¢45.9 million to GH¢63 million. Its profit after tax also increased by 169 per cent from GH¢5.28 million in 2011 to GH¢14.34 in 2012.

Shareholder’s funds at the close of year also stood at GH¢116.55 million compared to GH¢103.57 million in 2011, indicating an increase of 12.53 per cent.

The board chairman of the company, Mr Lionel Molbila, announced this at the company’s annual general meeting in Accra.

The company subsequently paid a dividend of GH¢3,000,000 to its shareholder, that is the Ghana government, after posting an impressive financial performance for the year ending December 31, 2012.

Consequently, total payments to the government totalled GH¢9,773,519 for 2012, with GH¢6,773,519 being corporate taxes.