Amid growing concerns and confusion among customers regarding Donewell Insurance’s corporate identity, the company’s Chief Executive Officer, Seth Kobla Aklasi, has set the record straight: Donewell Insurance has not rebranded.
His clarifications come in response to recent reports in the media suggesting otherwise, which have caused some misunderstanding about the company’s status and operations.
The misunderstanding arose from the rebranding of Donewell Life Assurance, a separate entity with distinct ownership and management. Customers noticed similarities between Donewell Life Assurance and Donewell Insurance, leading to questions about the latter’s corporate identity.
Mr. Aklasi explained that while both companies share a common history, their paths diverged significantly over time, particularly following regulatory changes in the Ghanaian insurance industry.
A Shared History, Different Trajectories
Between 1993 and 2007, Donewell Insurance operated as a single entity, offering both life and general insurance services. However, the enactment of the Insurance Act of 2006 (Act 724) mandated the separation of insurance businesses into two categories: long-term (life) and short-term (general).
This legal requirement resulted in the creation of Donewell Life Assurance as an independent company, tasked with handling life insurance services. Donewell Insurance, on the other hand, retained its focus on general insurance, including policies such as motor, fire, personal accident, and public liability insurance.
While the two companies operated separately after the split, they remained connected through their shared origin until changes in the shareholding structure in 2015 and 2016 led to their complete independence. “Donewell, which was the mother company, gave birth to Donewell Life,” Mr. Aklasi explained, emphasizing the importance of understanding this separation.
Since its incorporation in 1988, Donewell Insurance has remained a cornerstone of the Ghanaian insurance industry. Owned by the Methodist Church, institutional investors, professional trade associations, and other individuals, the company has built a solid reputation for professionalism, innovation, and reliability.
Donewell Insurance continues to operate under its original name, delivering a diverse range of short-term insurance products, including: Fire and Allied Perils, Motor Insurance, Contractors All Risks, Goods in Transit, Public Liability Policy, and Personal Accident Insurance.
Addressing Customer Concerns
In his statement, Mr. Aklasi reassured customers that Donewell Insurance remains the same company it has always been since it commenced operations in 1993. “Our name hasn’t changed,” he affirmed, adding that customers can continue to rely on the company for innovative and quality insurance solutions.
He also emphasized the importance of distinguishing between the two companies, especially in light of Donewell Life Assurance’s recent rebranding efforts. Donewell Insurance’s services remain unaffected, and its commitment to excellence is unwavering. “If you have a house insured, your factory insured, or a travel policy, then you know you have been dealing with Donewell Insurance Ltd,” Mr. Aklasi said.
Beyond its business operations, Donewell Insurance has made significant contributions to society through its corporate social responsibility (CSR) initiatives. Since 2018, the company has supported the National Blood Bank and 37 Military Hospital with its annual blood donation drives. These efforts have added approximately 2,500 pints of blood to the national blood stock, earning the company the Best Company in Promoting Voluntary Blood Donation award by the Sustainability & Social Investment Awards in 2018.
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