President John Dramani Mahama has appointed seasoned insurance expert Dr. Abiba Zakariah as the Acting Commissioner of the National Insurance Commission (NIC).

According to sources, Dr. Zakariah officially assumed office on Monday, February 17, 2025, following her appointment last week.

She takes over from Michael Andoh, who has been serving in an Acting capacity since April 2023.

Profile of Dr. Abiba Zakariah

Dr. Zakariah brings over 20 years of experience in the insurance industry.

She is the founder and Managing Director of the Strategist Consortium, a management consulting firm, and previously served as Group Chief Operating Officer of WAICA Reinsurance Corporation, a firm owned by members of the West African Insurance Companies Association with a global presence.

A Chartered Insurer, she is a Fellow of the Chartered Insurance Institute (UK) and the Institute of Risk Management Professionals of Ghana.

Her academic credentials include:

BSc (Hons.) and MBA from the University of Ghana, Legon PhD in Management Studies from the Swiss Management Centre

Dr. Zakariah began her career at SIC Insurance (formerly State Insurance Corporation), where she gained extensive industry experience.

As she takes up her new role, industry analysts point to insurance penetration as one of the biggest challenges she will need to address.

She is expected to introduce fresh policy measures and incentives to boost growth in the sector.

Additionally, there is increasing pressure from market players for a review of the minimum capital requirements for insurance companies, a matter that may require urgent attention from the new leadership.