Francisca Karikari, MD, Glico General
GLICO General Insurance Company (GLICO GENERAL) says for the year ended 31st December 2011, the company posted increased financial results, which reflect good business planning, management and customer service delivery.
Profit before tax increased to GH?1,277,109 as compared to GH?893,338 for the previous year, representing a 42 percent increase.
Gross premium shot up by152 percent to GH?25,298,423 as against GH?10,017,758 recorded the previous year. There was also a significant increase in current assets, which were valued at GH?18,582,617 over the previous year?s amount of GH? 12,676,101.
On claims, GLICO GENERAL has been noted for speedy processing and prompt payment. Last year, the company paid out a total of GH?5,184,792 in claims on various classes of insurance, more than the total amount of GH?2,117,949 paid in 2010.
In her assessment of the performance of GLICO GENERAL after the Annual General Meeting (AGM), the Managing Director, Francisca Karikari noted: ?We have managed to achieve fruitful results in our business operations through hard work and a focus of excellent service delivery on the part of both Management and staff. Since the inception of our operations five years ago, our profit margins keep increasing to enable us meet our financial commitments; this is encouraging?.
She also emphasized that ?we are operating in a competitive market so we cannot rest on our oars; we need to improve, exceptionally our services to retain our existing customers and win new ones. I wish to say thank you to all our numerous clients whose belief in us has brought us remarkable success.?
The company expressed its preparedness to attain greater heights in the coming years and strengthen its position in the market.
From the Business Desk
