Enterprise Insurance LTD (Jul 2022)

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Filename 2022_07-_-Enterprise-Insurance.pdf
Filesize 436 KB
Version paid report
Date added Jul 19, 2022
Category Credit Rating Reports, Insurance
Tags Ghana

Enterprise Insurance LTD was originally founded in 1924 as Royal Exchange Assurance Corporation, being the first insurance company operating in Ghana, and was subsequently renamed to Guardian Royal Exchange Assurance. The underwriter has been operating under the name Enterprise Insurance Company Limited since 1976 and was the first insurance company to list on the Ghana Stock Exchange in 1991. In August 2010, Enterprise Group Plc (“the group”), formerly Enterprise Group Limited, was established. The group housed insurance and related subsidiaries. Following the establishment of the group, the underwriter was de-listed from the local stock exchange, with the parent company listing in November 2010. In July 2021, Enterprise Insurance Company Limited changed its name to Enterprise Insurance LTD to comply with the naming requirements of the new Company’s Act (2019).

Enterprise Insurance is majority owned (75%) by the group with the remaining stake (25%) held by Black Star Holdings Limited, a private limited company registered in England and Wales. A stand-alone analytical approach was followed given the entity’s less than majority revenue and asset contribution to the group, which stood at 33% and 17% at FY21, respectively.