The analysis pointed to the fact that Enterprise Life also emerged the most profitable life underwriter in that year. The life insurer made a profit after tax of GHc 34,372 million in the year under review, a head of the market’s largest premium income earner whose profits were GHc 9,288 million.

B&FT’s analysis also proved that the efficiency levels of all the life companies in 2013 did not change much from 2012. SIC life maintained its third position likewise Star Life which retained its fifth slot. GLICO life moved from fourth most efficient in 2012 to second in 2013. The company was also the second most profitable insurer that year behind Enterprise Life.

Some of the ten most efficient companies in the year under review included Provident Life, who dropped from second position in 2012 to fourth. Ghana Union Assurance came sixth; Quality life took the ninth spot while UT Life and Ghana Life took the eight and tenth slots respectively.

The ten most efficient life companies contributed about GHc 467.6 million out of the total market premium of GHc467.8 million, representing 92 percent.