About Provident Insurance

Corporate Philosophy

At Provident, we espouse a simple set of corporate philosophy which defines our positioning in the Ghanaian insurance industry. Our corporate philosophy is a critical element of our culture. Our decision making, drive and unity as a company hinges on it. It consists of our vision, mission and values:

Our profile

Provident Insurance Company (Provident) is a private Limited Liability company incorporated and was registered in Ghana in February, 1981. It commenced business in October 1982 on the principle of providing our policyholders with a near perfect protection, as near perfect service as is humanly possible, and doing so at the lowest possible cost.

The Company started from a humble beginning with a stated capital base of five thousand cedis (¢5,000). Provident has now been evaluated as one of the solvent Insurance Companies on the market by the National Insurance Commission (NIC). Accordingly, its operating License is annually renewed by the NIC.

Provident insurance has a strong asset base of GHS 67.8m as at 31st December 2018, out of which investments in short term security and statutory reserves made up approximately GHS 33m. Total assets of Provident has seen a 23% increase from 2015 when the total assets of the company was GHS 55m.

Provident Insurance had a capital of GHS 42.8 million Ghana Cedis as at 31st December 2018 with a Capital Adequacy Ratio (CAR) of 483%, over and above the CAR of 150% recommended by the Regulator.

The Company as at 31st December 2018 has no outstanding financial obligations in terms of bank loans. Its liabilities are solely related to the technical reserves in the form out outstanding claims.


This achievement has been the application over the years of sound, professional and efficient underwriting and investments practices.