Renowned businessman Sir Sam Jonah has expressed concern over the growing political interference threatening Ghana’s insurance industry.

According to him, while such interference existed in the past, it was not as prevalent as it is today, where it is undermining the integrity, professionalism, and accountability of the sector.

Speaking at the annual conference of the Insurance Brokers Association of Ghana in Accra on March 26, 2026, Sir Sam Jonah warned about the increasing rate of interference in insurance.

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“There is a growing and deeply troubling pattern of political and socio-economic interference in the conduct of insurance business in Ghana. What was once an occasional disruption has… become something more systemic, more embedded, and more dangerous,” he said.

“Insurance portfolios, particularly those of state entities, are moved not through competitive tender or professional selection, but through personal access and political leverage,” he added, as reported by myjoyonline.com.

Drawing from his experience in building Met Insurance, Sir Sam Jonah noted that political interference is being used to generate revenue in ways that ultimately harm the industry.

“Premiums are loaded fraudulently, without actuarial basis… purely as a vehicle for the extraction of money from institutions that ultimately belong to the Ghanaian public. That is a betrayal. And I say it plainly: it is a betrayal,” he stressed.

SB/MA

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