Hollard Ghana paid approximately GH₵18.2 million in life insurance claims during 2025, nearly double the GH₵9.5 million disbursed in 2024, as maturing savings policies and large corporate group life cover drove the sharp rise in year-on-year payouts.
The figures, released on Wednesday, April 22, cover the full January to December 2025 period and represent the insurer’s strongest claims settlement performance to date. Emmanuel Akwada, Head of Distribution at Hollard Life Ghana, said the growth reflected both the natural maturation of the company’s product lifecycle and an expanded corporate client base, rather than a spike in adverse events.
Maturity-related payouts on long-term savings and investment-linked policies accounted for the largest share of claims by value, at approximately GH₵4.4 million. These products, many of which Hollard introduced from around 2020 and structured over five-year terms or longer, have now entered their payout phase simultaneously, accelerating disbursements in 2025. Partial withdrawals, known in the industry as encashments, recorded the highest volume of individual transactions, with 752 claims totalling approximately GH₵2.46 million. Death and funeral-related claims amounted to approximately GH₵2.81 million, reflecting what Akwada described as the significant financial weight that funerals carry for Ghanaian households.
On the corporate side, group life policies covering employees at multiples of their annual salaries continued to generate the highest individual claim values. Akwada noted that senior-level employee cover in particular results in substantial payouts when claims arise, and that the company manages these obligations through a disciplined reinsurance and co-insurance framework to protect its balance sheet while ensuring prompt settlements for clients.
“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,” Akwada said.
Beyond the headline figures, Hollard Ghana used the data release to highlight gaps that persist in Ghana’s insurance market. Despite the growth of formal insurance, many Small and Medium-sized Enterprises (SMEs) remain underinsured, a structural vulnerability given their central role in the Ghanaian economy. In response, the company said it has developed a product called Asondwee, designed specifically for Micro, Small, and Medium-sized Enterprises (MSMEs), providing combined life and property cover in a single policy.
Hollard is part of the Hollard Group, South Africa’s largest privately owned insurance group, and operates in Ghana through its life and non-life subsidiaries under the Hollard International business, which holds a presence across multiple African markets.
