IMANI questions Ghana Gas insurance change legal issues
IMANI Africa has raised concerns over the change in insurance for Ghana National Gas Company. The think tank questioned if the switch from Glico General followed proper procurement and legal steps. Glico General had a two-year deal with international reinsurers. IMANI warns this change could hurt Ghana's standing and future insurance costs in global markets.
IMANI Africa, a policy think tank, has raised alarms about changes to Ghana National Gas Company's insurance. The think tank is worried about how a structured insurance plan was ended.
Glico General Insurance Ltd had a two-year insurance deal for Ghana Gas. This deal included big international insurance companies. Glico said its role as the main insurer ended on December 31, 2025. A new insurer took over from January 1, 2026.
IMANI wants to know three things:
- Was the new insurance chosen through fair competition?
- Were old contracts reviewed and ended legally?
- Were the effects on international reinsurance deals checked before the change?
IMANI warns that changing these deals without care can cause problems. It could hurt Ghana's reputation in global insurance markets. It might also make future insurance more expensive. This is because international insurance capacity, once set, is hard to change.
The think tank also pointed to possible regulatory issues. Glico's complaint talks about other groups getting involved in insurance talks. These groups might have power and also their own business interests. If regulatory rules were broken, this raises trust issues in the market.
Ghana Gas handles important energy assets. These assets need special insurance for their many risks. Ending an existing structured plan could make insuring these national assets harder and more costly in the long run.
Source: StatsGH — Ghana's data-driven news platform