The Ghana Insurers Association has publicly criticized the government’s domestic debt exchange programme, adding that insurers should be exempted from its implementation.
Addressing the press on Friday , Dr. Kingsley Kwesi Kwabahson, CEO of Ghana Insurers Association relayed that, if not excluded, there will be consequences in the industry in protecting properties.
It will also discourage the citizenry in taking up insurance policies as it will lead to their confidence declining, he said.
He further said some insurance companies have their funds locked up in some banks and institutions which were part of the government’s bank clearing system which was a great blow to the industry.
Dr. Kingsley disclosed that currently, the Insurance Industry has lost GHS356 million.
Therefore, to ensure its liquidity position as an Industry strong and kicking in Ghana, government must exempt them from the ‘Debt Exchange Programme”.
Ghana | Atinkaonline.com | Abena Nyamesem