SIC Insurance PLC posted an audited profit after tax of GH¢84.05 million for the year ended December 31, 2025, a 57 percent jump over GH¢53.4 million in 2024, according to consolidated financial statements approved by the board of directors on 19th May 2026.
The state-owned non-life insurer, listed on the Ghana Stock Exchange (GSE), recorded insurance revenue of GH¢598.19 million, up 7 percent from GH¢559.48 million the prior year. The Board is recommending a total dividend of GH¢20 million, representing GH¢0.1022 per share, subject to approval from the National Insurance Commission (NIC).
Profit before income tax reached GH¢117.74 million, compared to GH¢83.21 million in 2024, reflecting stronger underwriting performance and a surge in investment income to GH¢46.77 million. The insurer’s return on shareholders’ funds improved to 10.69 percent from 7.97 percent.
However, the audited accounts reveal significant pressure on the reinsurance front. Net expenses from reinsurance contracts held climbed to GH¢178.57 million from GH¢137.72 million in 2024, wiping out a large portion of underwriting gains. Other operating expenses also ballooned to GH¢248.73 million from GH¢192.11 million.
Total assets of the group reached GH¢1.27 billion, up from GH¢1.12 billion at the close of 2024. Shareholders’ funds stood at GH¢786.28 million, while earnings per share rose to GH¢0.4296 from GH¢0.2730.
The audited profit figure of GH¢84.05 million is notably higher than the GH¢69.5 million reported in the company’s unaudited results released in February 2026, a divergence of GH¢14.55 million that investors and analysts will likely scrutinise.
SIC Insurance spent GH¢1.27 million on corporate social responsibility in 2025, covering education, health, environment, sport, and community development. The financial statements were audited by Baker Tilly Andah and Andah, Chartered Accountants.
