SIC Boss Finally Hands Over To James Agyenim-Boateng

The Managing Director of SIC Insurance PLC, Ms Hollistar Duah-Yentumi, has officially handed over leadership to her successor, Mr James Agyenim-Boateng, following what she calls an exceptional financial and operational performance during her one-year tenure.

According to reports, SIC Insurance PLC recorded GHS 513 million in revenue for 2024, marking a 37.48% increase from GHS 373 million in the previous year.

Profit after tax soared to GHS 56 million—a remarkable 375.5% rise from GHS 15 million in 2023.

This financial growth is expected to significantly enhance shareholder returns, with return on equity rising from 3.11% in 2023 to 10.61% in 2024.

Additionally, management expenses as a percentage of insurance revenue declined from 42% in 2023 to 34% in 2024, reflecting improved cost efficiency and internal controls.

Expressing confidence in the future of SIC Insurance, Ms. Duah-Yentumi highlighted the strong structures and strategic direction set during her leadership.

She encouraged staff to extend their full support to the new MD, Mr Agyenim-Boateng, as the company moves forward.

Source: Myjoyonline