30
Oct
Ghana’s insurance industry recorded a substantial 22% growth in its investment assets in 2023, reaching a total value of GH₵10.5 billion, up from GH₵8.6 billion in 2022, according to the latest Bank of Ghana’s 2023 Financial Stability Review report. Ghana’s Insurance industry seems to have weathered the storm of the COVID-19 pandemic and the domestic debt exchange programme. The life insurance sub-sector led this growth, with investment assets valued at GH₵7.0 billion as of December 2023, compared to GH₵3.5 billion in the non-life sector. Fixed-income assets remain a common investment strategy across life and non-life sectors. However, the share of…