Rafiq Adam
Hollard Ghana has nearly doubled its claims payout to GH₵18.2 million in 2025, reinforcing its position as a reliable insurer in Ghana’s growing insurance market.
The company disclosed that the payout, recorded between January and December 2025, represents a significant increase from the GH₵9.5 million paid in 2024. The strong growth reflects both an expanding customer base and the maturity of long-term insurance products, particularly savings and investment-linked policies introduced around 2020.
According to Hollard Ghana, the increase in claims is largely driven by policy maturities and the expansion of group life insurance within its corporate portfolio. Head of Distribution at Hollard Life, Emmanuel Akwada, said the performance underscores the company’s commitment to delivering on its promises to policyholders.
“In an industry where trust remains a defining factor in insurance adoption, this performance strengthens our positioning as a dependable partner in risk protection and long-term financial planning,” he stated.
Data from the company shows that maturity-related payouts accounted for the largest share by value, with about GH₵4.4 million paid to clients. Meanwhile, partial withdrawals, also known as encashments, recorded the highest number of transactions, with 752 claims amounting to approximately GH₵2.46 million.
The trend highlights how policyholders in Ghana are increasingly using insurance products as flexible financial tools to meet short- and medium-term needs, while maintaining long-term cover. Industry observers say this shift is driving demand for structured savings and investment solutions across the country.
Corporate and group life policies also contributed significantly to high-value claims. These policies, often tied to employees’ salaries, result in substantial payouts, particularly at senior levels. Akwada noted that such claims form a major part of the company’s overall payout structure.
Despite the increase, Hollard Ghana says it has maintained financial stability through disciplined reinsurance and co-insurance strategies, allowing it to manage large claims efficiently while ensuring prompt payment to clients.
The 2025 claims data also sheds light on Ghana’s evolving risk landscape. Funeral-related claims remain a major financial burden for many households, with death claims alone accounting for approximately GH₵2.81 million. The company said its payouts have helped ease the cost of funerals, which remain culturally significant in Ghana.
At the same time, rising cases of critical illness and increasing education costs are influencing demand for more comprehensive insurance products. Hollard Ghana has responded by expanding its portfolio to include solutions that combine life cover, funeral benefits, critical illness protection and long-term savings.
The company also identified a persistent insurance gap among small and medium-sized enterprises (SMEs), which form a critical part of Ghana’s economy. To address this, it has introduced tailored products such as Asondwee, designed to provide both life and property cover for MSMEs.
Hollard Ghana noted that improving claims payment consistency is key to building trust in the insurance sector, particularly in markets where skepticism has historically limited uptake.
“When people receive their claims, it builds confidence and changes perceptions. Every claim paid contributes to stronger financial security for individuals and the broader economy,” Akwada added.
The company says it remains focused on expanding access to insurance, strengthening trust and supporting the development of a more inclusive and resilient insurance ecosystem in Ghana and across West Africa.
Emmanuel Mensah
