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Ghana to host 22nd AIRDC Conference in 2020

The Republic of Ghana, located along the Gulf of Guinea and Atlantic Ocean, in the subregion of West Africa, will serve as host to the 22nd Conference of the Association of Insurers and Reinsurers of Developing Countries (AIRDC) in the year 2020.

 

This was announced in Kathmandu, Nepal during the closing ceremonies of the 21st Conference.

 

Spanning a land mass of 238,535 square kilometers (92,099 sq mi), Ghana is bordered by the Ivory Coast in the west, Burkina Faso in the north, Togo in the east and the Gulf of Guinea and Atlantic Ocean in the south.

 

Ghana means "Warrior King" in the Soninke language.

 

A country of 28 million people, Ghana's growing economic prosperity and democratic political system have made it a regional power in West Africa.

 

Ghana has a thriving insurance industry that has experienced a decade of rapid growth, with the proliferation of private companies and brokers. Government efforts to strengthen the financial sector and new leadership at the National Insurance Commission, the industry regulator, contributed to rising optimism.

 

Ghana is aiming to increase insurance penetration to 10% of GDP. The growth of new business lines such as bancassurance, microinsurance and mobile insurance are expected to help the country reach this target. And its hosting of the 22nd AIRDC Conference is expected to contribute in building the capacity of the local insurance industry.