Sunu Assurances

What Sunu Assurances does

Sunu Assurances Ghana Limited is a licensed non-life insurance company headquartered in Accra, Ghana, incorporated on 28 February 2008 (originally as Equity Assurance Ghana) and rebranded under the SUNU Group in January 2018. The company provides a comprehensive portfolio of general insurance products — Motor, Fire and Special Perils, Burglary, Marine, Cash-in-Transit, Consequential Loss, Contractors All Risks, Group and Individual Personal Accident, Householder Comprehensive, Workmen Compensation, and Performance/Bid/Advance Payment Bonds — serving corporate clients across banking, mining, construction, telecommunications, government, and retail, as well as individual consumers.

The company's technology stack centers on a digital distribution layer built on top of traditional underwriting infrastructure. The Ezisure platform, launched in 2019, was the first digital purchase channel in Ghana for Motor and Travel insurance via USSD code *711*733#, enabling end-to-end mobile purchase, payment, and e-certificate issuance, complemented by an online portal (einsure.sunuassurancesghana.com) for direct self-service. State-of-the-art underwriting software supports risk assessment, while a 10+ branch network across Accra, Tema, Kumasi, Takoradi, Tamale, Koforidua, Sunyani, Cape Coast, Ho, Obuasi, and Winneba underwrites the enterprise distribution motion.

The business model is built on subscription-recurring premium revenue across all non-life product lines, with enterprise field sales targeting banks, mining companies, construction firms, government institutions, and large corporates, and direct-to-consumer digital channels for retail motor and travel. Reinsurance is arranged through six major regional and continental reinsurers (Ghana Re, Mainstream Re, GN Re, WAICA Re, Continental Re, Africa Re), providing risk capacity for larger industrial and infrastructure policies. Premium income grew from GHc 36.3M (2017) to GHc 47.5M (2019), and the company is a wholly-owned subsidiary of the SUNU Group, a Pan-African insurance conglomerate with over $1B in assets across 17 African countries.

Name

Sunu Assurances

Legal name

Sunu Assurances Ghana Limited

Website

https://sunuassurancesghana.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

101–250 employees

Short description

Sunu Assurances Ghana Limited is a licensed non-life insurance company in Accra offering motor, fire, marine, burglary, personal accident, and specialty commercial policies, serving corporate clients across banking, mining, telecom, construction, and government alongside retail consumers, as a subsidiary of Pan-African SUNU Group.

Ownership category

akta.pro rank

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Non-Life Insurance Premiums: SUNU Assurances Ghana is a Non-Life Insurance company generating revenue through insurance premiums. Premium income has grown from GHc 36.3M (2017) to GHc 40.4M (2018) and GHc 47.5M (2019). Products include Motor, Fire with Business interruption, Personal Accident, Workers Compensation, Burglary, Fidelity Guarantee, Money Insurance, Goods in Transit, Public Liability, Contract Bonds, Marine Insurance, and Property coverage for Mortgages and Leasing.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

SUNU Assurances Ghana Limited is a non-life insurance company selling a comprehensive portfolio of general insurance policies including Motor, Fire and Special Perils, Marine, Burglary, Cash-In-Transit, Consequential Loss, Contractors All Risks, Group Personal Accident, Householder Comprehensive, Workmen Compensation, Personal Accident, and Performance/Bid Bonds. The company serves both individual consumers and corporate/enterprise clients across Ghana through physical branches, an online portal, and a mobile USSD platform (Ezisure).

Product overview

SUNU Assurances Ghana Limited is a non-life insurance company offering a comprehensive portfolio of insurance products. The core product offerings include Motor Insurance, Fire and Special Peril Insurance, Burglary Insurance, Cash-In-Transit, Consequential Loss Insurance, Contractors All Risks, Group Personal Accident Insurance, Householder Comprehensive Insurance, Marine Insurance, Workmen Compensation Insurance, Personal Accident Insurance, and Performance/Bid/Advance Payment Bonds. The company has also introduced Ezisure as a digital-first product enabling mobile-based insurance purchases via USSD. These products collectively serve both personal and commercial/corporate clients across Ghana.

Differentiator

Problem solved

Functional benefit

Brands

• Ezisure: First Digital purchase platform for Motor and Travel insurance on Mobile devices. Allows clients to initiate motor insurance purchase on a mobile device and complete with payment and issuance of an e-certificate.

Products and services

• Motor Insurance

Quantifiable outcome

• Premium income growth from GHc 36.3M (2017) to GHc 47.5M (2019) showing consistent growth trajectory
• +2 more outcomes

Named customers19 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• Ghana Reinsurance Company LimitedcoreOthersPrimary reinsurance partner providing reinsurance support and financial capacity for risk management.
• Mainstream Reinsurance Co. LimitedcoreOthersReinsurance partner providing additional reinsurance capacity and risk distribution.
• GN Reinsurance Company LimitedcoreOthersReinsurance partner providing risk capacity and financial strength for insurance operations.
• WAICA RecoreOthersWest African Insurance Companies Association Reinsurance providing regional reinsurance support.
• Continental Reinsurance Company LimitedcoreOthersNigeria-based reinsurance partner providing international reinsurance capacity.
• Africa Reinsurance LimitedcoreOthersAfrican Union-backed reinsurance company providing continental reinsurance support.
• SUNU GroupflagshipStrategic or Co-development PartnerParent Pan-African Insurance Group with asset base of over $1 Billion and operations in 17 African countries spanning West and Central Africa. SUNU Assurances Ghana is a member company aligned with the group's brand, financial strength, professionalism and values.
• West African Insurance Company Association (WAICA)coreOthersCorporate member providing industry representation and networking within West African insurance sector.
• Ghana Insurers' Association (GIA)coreOthersOfficial umbrella organization of registered insurance companies in Ghana.
• The Africa Insurance Organisation (AIO)minorOthersContinental insurance industry body providing pan-African representation and standards.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• SIC Insurance Company: State-owned Ghanaian non-life insurer providing motor, fire, marine, burglary and other general insurance products. Directly comparable given overlapping product portfolio and shared focus on corporate and government accounts.
• Star Assurance Company: Ghanaian non-life insurer offering motor, fire, marine and personal accident insurance to individuals and corporates. Comparable in product set and customer segments, particularly retail and SME.
• Vanguard Assurance Company: Ghanaian composite insurer with a meaningful non-life book covering motor, fire and general insurance for corporate and individual clients. Overlaps with Sunu in product mix and Ghanaian market focus.
• Enterprise Insurance Company: One of the leading non-life insurance companies in Ghana offering motor, fire, marine and other general insurance products to corporate and retail clients. Highly comparable in product mix, distribution model (branch-led) and target customer base in Ghana.
• Old Mutual Ghana (General Insurance): Ghanaian operation of pan-African financial services group Old Mutual, with a general insurance business covering motor, property and commercial lines. Comparable in multi-line P&C offering and group-backed balance sheet.
• Hollard Insurance Ghana: Ghanaian arm of South African insurance group Hollard, offering motor, property, liability and personal lines to retail and corporate customers. Comparable in non-life product breadth and digital distribution ambitions.

Broad incumbents

• Liberty Insurance Ghana: Ghanaian arm of Liberty Holdings (now part of Standard Bank group), offering general insurance products to retail and corporate clients. Comparable as a broad-line P&C peer with a strong distribution footprint.
• AXA Insurance Ghana: Ghanaian subsidiary of global insurer AXA, offering a broad portfolio of general insurance products. Comparable in product breadth and brand-strength-led positioning, though with a wider global parent and broader product suite.

Regional players

• SUNU Assurances Nigeria: Nigerian non-life insurance subsidiary of the same SUNU Group parent. Highly comparable in product mix, reinsurance panel and group-level strategy, but operating in a different (Nigerian) market.
• SUNU Assurances Côte d'Ivoire: Ivorian non-life insurance subsidiary of SUNU Group, offering motor, fire, marine and other general insurance. Comparable as a sister entity with shared product portfolio and group reinsurance arrangements, but focused on Côte d'Ivoire.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/sunughana
• Facebookfacebook.com/ghanasunu
• LinkedInlinkedin.com/company/sunughana

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sunu Assurances