Shareholders of SIC Insurance PLC have approved a GHS 20 million dividend for the 2025 financial year. This payout represents a doubling of the dividend from the prior year. The decision was made at the 19th hybrid Annual General Meeting (AGM) held in Accra.
The approved dividend of GHS 0.1022 per share will be paid on October 12, 2026. This significant increase follows a strong financial performance by the company. In 2024, the final dividend stood at GHS 0.0511 per share, with the total dividend then being GHS 10 million.
This substantial dividend increase underscores a period of robust growth for SIC Insurance PLC within Ghana's competitive insurance market. The company's performance reflects a broader trend of increasing financial resilience among key players in the Ghanaian economy. Improved profitability and revenue figures indicate a positive outlook for the insurance sector, attracting investor confidence.
Mr. Bernard Ahiafor, Board Chairman of SIC Insurance PLC, confirmed the dividend approval at the AGM. He highlighted the company's impressive financial results for the year ended December 31, 2025. Mr. Ahiafor noted that the performance reflects sustained confidence from policyholders and successful product diversification.
SIC Insurance recorded a total insurance revenue of GHS 598,188,744 for the year under review. This figure represents a meaningful growth from GHS 559,483,192 in the prior year. The company's profit before tax reached GHS 117,744,307, a notable improvement over the GHS 83,205,619 reported in 2024. This marks a year-on-year growth of approximately 41.5 percent.
After accounting for income tax and the growth and sustainability levy, the group delivered a profit after tax of GHS 84,053,064. This compares to GHS 53,413,669 in the prior year, an increase of approximately 57.4 percent. Total shareholders' funds also grew to GHS 786,280,583 as of December 31, 2025, up from GHS 670,378,999 in the prior year. This represents an increase of GHS 115,901,584, or approximately 17.3 percent.
The group's return on shareholders' funds stood at 10.69 percent for the year, compared to 7.97 percent in the prior year. Basic earnings per share improved significantly to GHS 0.4296 for the year, up from GHS 0.2730 in 2024. This 57.4 percent increase directly translates the improved profitability into tangible value for each ordinary shareholder.
Looking ahead, SIC Insurance PLC plans to accelerate technology deployment and deepen market penetration. The company also aims to optimize investment portfolios and advance its sustainability agenda. Mr. James Agyenim-Boateng, Managing Director of SIC Insurance PLC, stated the company will continue to invest in its people. He emphasized cultivating a high-performance culture to attract and retain top talent in the industry.
The company will also pursue disciplined growth in its investment portfolio. This strategy focuses on optimizing returns while maintaining a prudent risk posture. These strategic initiatives are expected to further strengthen SIC Insurance's financial resilience and market position.