Absa Bank Ghana Limited has once again demonstrated its dominance in the financial services sector by being named Bancassurance Leader for 2024 at the prestigious 2025 Ghana Insurance Awards.
The recognition underscores Absa’s commitment to embedding financial protection into everyday banking, making insurance more accessible to individuals and businesses across the country.
The Ghana Insurance Awards, an annual celebration of excellence and innovation in the insurance sector, acknowledged Absa’s ability to bridge banking and insurance seamlessly. The award celebrates not just market leadership, but also innovation, customer reach, and industry impact.
As of June 2025, Absa Bank has successfully served more than 157,000 clients through its Bancassurance offerings, a remarkable milestone that positions the bank as a true industry trailblazer. This success comes on the back of strong partnerships with Enterprise Life and Hollard Insurance, which have enabled the bank to deliver life and general insurance products to thousands of Ghanaians.
The Bancassurance model provides customers with convenient access to a range of products including life, health, education, motor, and home insurance, all seamlessly integrated into Absa’s branch network and digital platforms. This model reflects a growing shift in Ghana’s financial sector where banks and insurers are collaborating to broaden access and deepen financial inclusion.
Making Insurance a Lifestyle, Not a Luxury
Speaking after receiving the award, Kobla Nyaletey, Executive Director for Retail and Business Banking at Absa Bank Ghana Limited, emphasized that the recognition affirms the bank’s vision.
“This award is a significant endorsement of our mission to make insurance accessible, relevant, and embedded in everyday banking experiences. We believe financial protection is not a luxury – it is essential.”
Kobla Nyaletey
This philosophy has guided Absa’s Bancassurance strategy, ensuring that insurance products are not seen as optional add-ons but as integral components of financial planning and security for Ghanaian households and businesses.
The recognition comes at a critical time when many Ghanaians are seeking greater financial resilience amid global and local economic uncertainties. Absa’s leadership in bancassurance is helping customers secure their futures against risks, whether through health cover, motor insurance, or life protection.
By leveraging its branch network and digital banking platforms, Absa is democratizing access to insurance, reaching clients across urban and rural areas. This approach not only deepens insurance penetration in Ghana but also supports national financial inclusion goals.
Partnerships that Deliver Value
A key driver of Absa’s bancassurance success lies in its strategic partnerships with leading insurers. Collaborating with Enterprise Life and Hollard Insurance has allowed the bank to design products that are both relevant and practical, tailored to the needs of Ghanaian families, entrepreneurs, and SMEs.
These partnerships have proven critical in building customer trust, ensuring smooth claims processing, and enhancing overall service delivery. The integration of banking and insurance has simplified access for clients, allowing them to secure loans, savings, and insurance within one trusted ecosystem.
The Ghana Insurance Awards’ Bancassurance Leader category is reserved for financial institutions that not only deliver products but also shape the future of the industry. Absa Bank’s recognition signals its role as a thought leader in bancassurance, setting benchmarks for others to follow.
Meanwhile, Absa has reaffirmed its strategic intent to expand insurance adoption through technology-driven solutions, including digital enrollment, claims management, and customer education campaigns. The bank is expected to play a central role in improving Ghana’s insurance penetration rate, which remains relatively low compared to global standards.
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