The Insurance Act (Act 724) established the National Insurance Commission and empowered them to regulate Insurance in Ghana. The object of the Commission is to ensure effective administration
supervision, regulation, monitoring, and control of the business of insurance, to protect insurance policy
holders and the insurance industry other than health insurance under the National Health Insurance Act, 2003 (Act 650). The commission is responsible to license insurers and insurance intermediaries who transact insurance business in Ghana.
The Act, [The Insurance Act (Act 724)] indicated the composition of the Board; emphasizing that,
The governing body of the National Insurance Commission should be a Board consisting of
(a) the chairperson,
(b) one representative of the Ministry of Finance and Economic Planning not below the rank of Principal Economic Officer;
(c) one person who is either an experienced chartered insurer or a
qualified insurance practitioner nominated in consultation with the
insurance industry bodies;
(d) one person with qualification and practice in finance;
(e) one practicing lawyer nominated by the Ghana Bar Association;
(f) the Commissioner of Insurance appointed under section 12( 1); and
(g) one other person nominated by the President.
It should be noted that, the members of the Board shall be appointed by the President in
accordance with article 70 of the Constitution of Ghana.
To that effect, the following are persons currently serving on the board. This post would be updated as and when they are substituted.
Mr. Lionel Mobila – Chairman
Miss Lydia Lariba Bawa – Member
Mr. Emmanuel Baba Mahama – Member
Mr. Samuel Amankwah – Member
Ms. Sarah Fafa Kpodo – Member
Dr. Albert Gemegah – Member
Mr. Justin Amenuvor – Member
Mrs. Emma Ocran – Secretary