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Business News of Friday, 11 January 2019


QLAC appoints Dr. Aaron Issa Anafure as new CEO

The Board of Quality Life Assurance Co. Limited has appointed Dr. Aaron Issa Anafure as the new Chief Executive Officer of the Company effective 1st January 2019.

Dr. Anafure takes over from Mr. Raymond Afrifah-Yamoah, who retired from the services of QLAC on 1st January 2019.

Dr. Aaron Issa Anafure is a Chartered Insurer from UK, holds a Diploma from West African Insurance Institute (WAII), Liberia, a Fellow of West African Insurance Institute, Banjul, The Gambia. A Fellow of Insurance Institute of Ghana. A member of Chartered Institute of Marketing Ghana and a member of Institute of Directors (Ghana).

Aside his professional background, Dr. Anafure holds a Doctorate in Business Administration from Swiss Management Centre SMC, Switzerland with specialization in Management and Corporate Governance. He had his Executive Masters in Business Administration in Finance option at the University of Ghana Business School where he also pursued his Bachelor of Science in Business Administration Marketing option (BSc).

Prior to his appointment as the Chief Executive Officer of QLAC, Dr. Anafure was the former Chief Executive Officer of Ghana’s largest Life Assurance Company; SIC Life having moved from the same position in CDH Life Insurance Company Limited.

Dr. Anafure has served as a Director on several Boards which include SIC Life Company Limited, SIC Life Savings and Loans Limited as Board Chair, SIC Financial Services Limited, Merchant Bank (UMB), Ghana Insurers Association, member of Ghana Life Offices Association, member of WAICA Council, member of Association of Insurance and Reinsurance of Developing Countries (AIRDEC) and Chairman of UMB Holdings Limited as well as West African Insurance Institute (WAII) Governing Council Banjul.

He has attended a lot of courses including; Talent Management and Succession Planning, Managerial Leadership, Supervisory Management, Total Customer solutions for Top Management, Strategic Marketing, Comprehensive Technical Life Assurance - India and many more.

During his tenure of office as Chief Executive Officer for SIC Life Insurance Company, he was able to establish SIC Life Shopping Mall which was the first of its kind in the insurance industry. He also established the SIC Life Savings and Loans.

Whilst in SIC Life, he led the company to win the Chartered Institute of Marketing (CIMG) award (Life category) five times and was finally called to the Hall of Fame in 2018. Premium income grew from GHC33m in 2009 to GHC212m as at Dec 2016 representing 529%. He maximized shareholder value through productivity, cost reduction and staff rationalization resulting in total dividend payment of GHC13,904,334 from the period of 2011-2015.

Some of his personal awards include:

- Best CEO award for the year 2015 and 2016 by the Business Executive Excellence Awards

- One of the Best Top (10) CEOs for 2012

- One of the Best top Eight ICONS of Corporate Ghana – The Business Executive Issue No:63 – 2017

- Certificate of HONOR – The Humanity Magazine International 2017

“Dr. Aaron Issa Anafure brings a wealth of experience to QLAC having attained a lot of achievements during the past years with his managerial and leadership skills heading these various institutions and believes strongly that he would be able to take QLAC to the next level,” a statement by the company said.