Intercontinental wapic Insurance Company limited one of the new insurance company in the country is poised in investing into Ghana’s newly found oil yet to be explored. The company which is part of Intercontinental group based in Nigeria has a capital base of $2million exceeding the $1million capital requirement needed to venture into the oil business in the country as set by actors. This statement was made by the Chief Executive officer of Intercontinental wapic insurance company Razzaq Abiodum at the formal launch of the company in Accra. “We will invest in the oil because it is a lucrative avenue and we have the expertise to help in the execution of the task to maximize enough profit”. Even though Nigeria has a lot of oil, it is equally important to also invest globally as the company sees beyond its geographical boundaries. “Ghana also has good quality business environment”.The CEO further reiterated that, oil investment was expensive so all prospective business entities ready to vie into it should always employ people with the good technical know how just like any other business with the aim of making it to the top. “We are ready to compete in the oil industry likewise in the insurance company”.
Mr.Abioudom further added that intercontinental wapic insurance also has an authorized share capital of N3.5 billion and a paid up share capital of N1.6 billion as at the financial year ending 2007. The mission of the insurance company is to be the first choice by providing reliable and efficient services through highly skilled, motivatd and experienced professionals while remaining socially responsible corporate citizen that creates shareholder values and also vision to be a world class insurance services company. Some products of the company includes insurance in oil and gas, goods and transport,aviation,fire and special perils and money insurance among others.
By;michael Amedor
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