Regency Alliance Insurance; a soaring African giant
Regency Alliance Insurance Ltd, Ghana emerged in 2007 as part of a leading insurance group with operations spanning the West and South Africa sub-regions.
The group provides critical financial solutions and risks management services.
Its experience in various countries and knowledge of their Insurance markets made the group a leader in the general insurance business market of the West Africa sub-region. Drawing on deep industry and underwriting expertise, superior claims handling and market experience, the company offers customised insurance products in collaboration with intermediaries and technical partners all over the world.
The company is excited that its local clientele base is growing progressively as is its business portfolio because of the high premium it places on customers’ satisfaction.
Product offering
We have a well-equipped risk management division, which identifies various risk exposures facing varieties of operations. From their inputs we are able to design and customise insurance products for our customers. Some of our standard products are:
Risk Underwriting Services
Risk Management Services
Assets Management Services
Medical Insurance Services
Savings and Investment Services
Its indemnities cover;
Fire:
Fire & Allied Perils; Consequential Loss/Business Interruption; Assets All Risks; Shop owners; Comprehensive; Home Insurance
Accident:
Burglary; Personal Accident; Group Personal Accident Insurance; Cash- in- Transit; Goods-in Transit; Money Insurance; Fidelity Guarantee; Professional Indemnity; Employers Liability; Product Liability; Directors Liability and Public Liability
Engineering:
Contractors All Risks; Erection All Risks; Machinery Insurance; Contractors Plant and Machinery; Electronic Equipment Insurance
Bonds:
Bid Bond; Performance Bond; Advance Mobilisation Bond
Motor:
Motor Comprehensive; Motor Third party, Fire and Theft and Motor Third Party Only.
Marine and Travel Insurance:
Marine Cargo; Marine Hull; Aviation and Traveguard plus
Special Risks:
Oil and Energy
Mission and Core Values
To create wealth for all stakeholders and mitigate risks associated with it.
Our core values are: Professionalism; Integrity, Commitment and Efficiency
The Past
Regency Alliance Insurance Ltd was incorporated in Ghana in 1979 as Inter-Life & General Insurance Company Limited under the Company’s Code of 1963 (Act 179). It changed its name to Benefits Insurance Company Limited in 2005.
In 2006, ownership of the company changed following its acquisition by CD Investments Ltd.
The company chalked a major milestone in 2007 when Regency Alliance Insurance Plc of Nigeria made strategic investment in the company. The aim was to broaden the ownership structure of the company and expand its operations.
The group
Regency Alliance Insurance Group is a pan African organisation with subsidiaries in some African countries including Ghana. The group is also in partnership with reputable players in the Financial Services Sector of West and South Africa sub-regions.
It is equally collaborating with some underwriters in some countries of the Western world in order to play significant role in the global insurance market. The group’s strategy is to partner with credible players in different regions of the world in order to contribute to efforts at improving the economies in the global system.
According to group executives, the objective is to guarantee your security and peace of mind, through an excellent business relationship based on professionalism, integrity, commitment and efficient service delivery.
Reinsurance arrangement
The company has a reinsurance arrangement with African Reinsurance Ltd, a reinsurer rated AA+ internationally, which extends its capacity to carry larger risks.
Directors
The company has a strong Board of Directors chaired by Mr Musa Badimsugru Adam B.SC, MBA, a renowned engineer and former Managing Director of Electricity Company of Ghana.
Board members include; Dr Mohamed Ibn Chambas B.A, M.A, Ll.B, Phd, a former President of Economic Community of West African States (ECOWAS; Mr Bode Oseni, ACII, MBA, a London School of Insurance trained and Managing Director; Biyi Otegbeye (B.SC, ACII, MBA, LLB, BL), the Group Managing Director, Regency Alliance Insurance Group and Mr Sammy Olaniyi (B.SC, MSC), an Executive Director. GB