Accra: 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.
According to Ghana Web, he highlighted a troubling pattern where political and socio-economic influences are becoming systemic within the industry. ‘What was once an occasional disruption has. become something more systemic, more embedded, and more dangerous,’ he said.
Sir Sam Jonah elaborated on how insurance portfolios, especially those of state entities, are often moved not through competitive tender or professional selection, but rather through personal access and political leverage. This practice, he noted, undermines the fairness and transparency that should characterize the insurance sector.
Drawing from his experience in building Met Insurance, Sir Sam Jonah pointed out that political interference is being used to generate revenue in ways that ultimately harm the industry. He criticized the fraudulent loading of premiums without actuarial basis, describing it as a vehicle for extracting money from public institutions, which he called a betrayal to the Ghanaian public.