State Insurance Company (SIC) Ghana Products and Services

Insurance companies are not popular among the masses of Ghanaians. Therefore when a company in this highly competitive field turns out to be on the lips of many, it must be carefully described to them. The State Insurance Company, famously known as SIC is unarguably one of the best insurance companies in Ghana. But does the public know much about them?

What is SIC’s mission?

The State Insurance Company seeks to provide innovative and competitive insurance and allied services to its customers through a highly skilled and motivated workforce.

Are operations of SIC legally authorized?

State Insurance Company is a listed public limited liability company with over 14,000 shareholders and was incorporated as State Insurance Corporation by Executive Instrument in 1962 (E.I. 17). The company then continued operations under the  State Insurance Corporation Instrument, 1965 (LI 424), made under section 5 of the Statutory Corporations Act, 1964 until the name of the company was changed to State Insurance Corporation of Ghana by the State Insurance Corporation (Amendment) Instrument, 1969 (LI 635).

In 1995, under the Statutory Corporations (Conversion to Companies) Act, 1993 (Act 461) and the Companies Code, 1963 (Act 179) (the “Code”), SIC was together with other statutory companies converted to companies limited by shares and has been operating under it.

Following the provisions of the current insurance legislation, the Insurance Act, 2006, SIC works by separating general business from the life business with the incorporation of SIC Life Limited.

Where and how can SIC be located and contacted?

The State Insurance Company is headquartered at No. 28/29 Ring Road East, Nyemitei House, adjacent UNDP Office, P.O. Box 2363, Accra but has branches spanning across the country.

You can reach out to the company through the following call lines;

  • 233-302-780600-9
  • 233-302-780615

Or through email at

What policies and products does SIC provide?

The State Insurance Company provides services that range from motor insurance, fire and allied perils, travel insurance, general accident, and workmen’s compensation to general accident.

Fire and allied perils

Fire insurance gives the insured the requisite financial protection against assets acquired during his/her lifetime so that in the event of any misfortune the insured would be put in the same financial position he/she enjoyed just before the loss.

The target of this product is two main potential buyers of fire insurance; the individual and the entity (organization).
Fire Insurance is provided to the individual as protection against his/her property including buildings, household goods, and personal effects. The Organization including Commercial and Industrial entities could insure its buildings, plant, machinery and equipment, stock of raw materials, finished goods and profits.

Motor insurance

SIC’s motor insurance policy provides you with coverage for legitimate liabilities that may arise in the use of your vehicle. SIC’s motor insurance covers the following.

Travel Insurance

SIC’s travel insurance policy offers protection for travelers when they leave the shores of Ghana. The policy provides coverage for a host of unforeseen events that may occur in the course of the trip. Here are some of the covers and benefits it provides: Emergency Medical Expenses, Delayed Departure, Loss of Passport and Checked-in Luggage among others

Workmen’s compensation

SIC’s Workmen’s Compensation Insurance Indemnifies an employer against his legal liability for injuries to his employees resulting from accidents occurring in the course of their employment.

General Accident

SIC’s General Accident Insurance generally covers unforeseen, accidental, and sudden loss of or damage to property and injury/death to persons.
SIC has Four classes of General Accident Policies: Insurance of the person, Property insurance, Pecuniary insurance, and Liability insurance.