User:Kojo Guar-Gorman/sandbox

The year 1965 could be marked as the birth year of Insurance Brokerage in Ghana. For the first time in the history of Insurance in Ghana the word, ‘Broker’ was mentioned in the Insurance Act which was passed on 29th April 1965 to consolidate the practice of Insurance in Ghana.

No insurance Brokerage company was registered in the country when the Act was passed. After the passage of the Act some British Insurance Broking companies came to Ghana to explore the possibilities of setting up Broking Companies but unfortunately realised with the establishment in November 1962 of the State Insurance Corporation of Ghana (S.I.C) which had assumed the role of Insurance Advisor to the government, it would not be profitable to set up Broking companies in the Country.

In early 1969, a group of Ghanaians, acting on the advice of Nana Awuah Darko-Ampem decided to set up an Insurance Broking Company in Ghana and practise on the same acceptable principles as would be applicable in Europe and elsewhere. In May 1969, the first Insurance Brokerage company in Ghana was duly licensed by the Government of Ghana and known as Marine & General Insurance Brokers Limited.