President John Dramani Mahama has appointed Dr. Abiba Zakariah as the Acting Commissioner of the National Insurance Commission (NIC), marking a new era for Ghana’s insurance regulatory body.
Dr. Zakariah, a seasoned insurance professional with over two decades of industry experience, officially assumed office on Monday, February 17, 2025.
She takes over from Michael Andoh, who had been serving in an acting capacity since April 2023.
A Distinguished Career in Insurance
Dr. Zakariah’s appointment brings extensive expertise to the NIC. Before her new role, she served as the Group Chief Operating Officer of WAICA Reinsurance Corporation, a major player in West African insurance.
She resigned from the position in 2024 to focus on her private consultancy, Strategist Consortium, where she was the Managing Director.
A Chartered Insurer and a Fellow of both the Chartered Insurance Institute (UK) and the Institute of Risk Management Professionals of Ghana, Dr. Zakariah’s credentials reinforce her reputation as a leader in the sector.
She holds a Bachelor of Science (Hons.) degree and an MBA from the University of Ghana, Legon, and earned a PhD in Management Studies from the Swiss Management Centre.
Her career began at SIC Insurance Company, formerly the State Insurance Corporation, where she built a solid foundation in insurance operations and risk management.
Expectations for the Insurance Industry
As she takes the helm at NIC, Dr. Zakariah is expected to drive regulatory reforms aimed at strengthening the insurance sector.
Industry stakeholders have long advocated for a review of the minimum capital requirement for insurance firms to enhance financial resilience, a discussion she is likely to lead.
Additionally, her leadership is expected to introduce policy measures that encourage broader insurance coverage, improve investor confidence, and enhance overall regulatory oversight.
Dr. Zakariah’s appointment signals a strategic shift in the NIC’s leadership, with expectations of transformative policies to modernize Ghana’s insurance industry.
Story by: Joshua Kwabena Smith
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