Serene Insurance

What Serene Insurance does

Serene Insurance Company Limited is a Ghanaian private non-life (general) insurance company incorporated on 21 July 2016 and licensed by the National Insurance Commission, commencing full operations in September 2018. The company is a subsidiary of First Sky Group, a diversified Ghanaian conglomerate whose operating subsidiaries span construction, hospitality (Volta Serene Hotel), agricultural commodity trading (First Sky Commodity), bitumen production, rural banking (Frerrol Rural Bank), and renewable energy (First Sky Energies). Serene offers a full non-life insurance product portfolio including Motor, Fire and Allied Perils, General Accident (covering Money, Goods-In-Transit, Hoteliers, Fidelity, Burglary, Cash-In-Transit, Bankers Indemnity, Professional Indemnity, and Cyber Crime), Engineering (Contractors-All-Risk, Erection All Risk, Electronic Equipment), Marine Cargo, Travel, Employers Workmen's Compensation, and various Bonds (Bid, Performance, Advance Mobilization, Transit, Customs). Its technology stack centers on the serene.sibapps.com digital platform for online policy purchase and renewal, supplemented by WhatsApp and phone channels for customer service. The company does not employ AI or ML in any disclosed capability.

Serene operates through a sales-led go-to-market motion via 14 physical branches across 7 of Ghana's 16 regions, with its head office at SU Tower, Ridge, Accra. Revenue is generated entirely through recurring insurance premiums across its product lines, with reinsurance capacity sourced from a panel including Ghana Re, African Re, WAICA Re, Mainstream Re, and GN Re. Customer segmentation is horizontal, serving both corporate enterprises (including First Sky Group affiliates as related-party demand) and individual consumers. The company is well-capitalized with GHC 59 Million in seed capital exceeding the NIC minimum capital requirement of GHC 50 Million, and its claims service is positioned on speed (same-day settlement for trivial claims, one-week resolution for standard claims) as the primary brand differentiator. It has been adjudged the fastest-growing insurance company in Ghana, and its CEO Mercy N K Boampong was recognized among the Top 50 Women in Insurance in Africa at the 48th African Insurance Organization Annual General Meeting in 2025.

Name

Serene Insurance

Legal name

Serene Insurance Company Limited

Website

https://sereneinsurance.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Serene Insurance is a Ghanaian private non-life insurance company and subsidiary of First Sky Group, offering motor, fire, marine, engineering, travel, and accident policies to corporate and individual customers through 14 branches across 7 regions and a digital self-service platform.

Ownership category

akta.pro rank

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Non-Life Insurance Premiums: Serene Insurance generates revenue through collecting insurance premiums from policyholders in exchange for coverage across multiple insurance product lines including motor, fire, marine, engineering, general accident, bonds, travel, and workmen's compensation insurance.
2. Professional Indemnity Insurance: Coverage for professionals against legal liability to third parties incurred whilst engaged in their profession
3. Marine Insurance: Insurance for cargo against all types of losses during transit, covering imports, exports, and air cargo. Offers open covers for frequent importers and single covers for occasional importers.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Serene Insurance underwrites and distributes non-life (general) insurance products in Ghana, including motor, fire and allied perils, marine, engineering, general accident, foreign travel, employers' workmen's compensation, and bond policies. Policies are sold to both individuals and corporate clients through a 14-branch network and an online policy platform, with 24/7 claims support delivered via phone, WhatsApp, email, and in-person channels.

Product overview

Serene Insurance is a Ghanaian non-life insurance company that offers a comprehensive portfolio of insurance products and bonds. The core product portfolio includes Motor Insurance, Fire and Allied Perils, General Accident, Engineering Policies, Marine Insurance, Travel Insurance, Employers Workmen's Compensation, and various Bond products. The company operates as part of the First Sky Group and is positioned as a technology-driven insurer with online policy purchase capabilities through their digital platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance Insurance cover for private and commercial vehicles sold to individual motorists and corporate fleet owners in Ghana, providing financial protection against motor-related risks.
• Fire and Allied Perils Insurance
• Marine Insurance Policy
• Engineering Policies
• General Accident Insurance
• Foreign Travel Insurance Policy
• Employers Workmen's Compensation Policy
• Bonds
• 24/7 Claims Service
• Online Policy Platform

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core.

• Ghana RecoreOthersGhana Re is described as the biggest reinsurance company in Ghana. It serves as one of the primary reinsurance partners backing Serene Insurance's business activities, providing reinsurance capacity and expertise for underwriting large risks.
• African RecoreOthersAfrican Re is a major African reinsurance company providing reinsurance backing for Serene Insurance's operations and risk management capabilities.
• WAICA RecoreOthersWest African Reinsurance Company (WAICA Re) provides reinsurance support to Serene Insurance as part of their strong reinsurance partner network.
• Mainstream RecoreOthersMainstream Re provides reinsurance capacity as part of Serene Insurance's comprehensive reinsurance backing arrangement.
• GN RecoreOthersGN Re is one of the reinsurance partners providing backing for Serene Insurance's business activities and risk portfolio management.
• First Sky ConstructioncoreStrategic or Co-development PartnerFirst Sky Construction is the parent company and primary shareholder of Serene Insurance. It is one of Ghana's largest construction firms rated A1 in roads, airports and related structures; B1 in concrete bridges, culverts and other structures; and S1 in steel bridges and structures.
• Volta Serene HotelcoreStrategic or Co-development PartnerVolta Serene Hotel is the only four-star luxury hotel in the Volta region and a primary shareholder of Serene Insurance. It represents the hospitality sector investment within the First Sky Group.
• First Sky CommoditycoreStrategic or Co-development PartnerFirst Sky Commodity is a cocoa buying company and primary shareholder of Serene Insurance, representing the agricultural commodity trading sector within the First Sky Group.
• First Sky Bitumen LtdcoreStrategic or Co-development PartnerFirst Sky Bitumen Ltd is involved in the production of Bitumen for road construction and is a primary shareholder of Serene Insurance within the First Sky Group.
• Frerrol Rural BankcoreStrategic or Co-development PartnerFrerrol Rural Bank is a rural bank with branches in Hohoe, Ho and Kpando, and is a primary shareholder of Serene Insurance representing the financial services sector within the First Sky Group.
• First Sky EnergiescoreStrategic or Co-development PartnerFirst Sky Energies is involved in the production of renewable energy and is a primary shareholder of Serene Insurance within the First Sky Group.

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Enterprise Insurance Company Limited (Ghana): Largest non-life insurer in Ghana offering motor, fire, marine, accident, and engineering insurance through a nationwide branch network. Direct competitor on the same product lines, broker channels, and corporate accounts that Serene targets; multiple Serene senior managers previously worked at Enterprise Group.
• SIC Insurance Company Limited: State-linked Ghanaian non-life insurer offering motor, fire, marine, engineering, and accident products. Competes head-to-head with Serene in commercial and retail lines; also a direct destination for several of Serene's senior managers earlier in their careers.
• Star Assurance Company Limited: Established Ghanaian non-life insurer with a comparable product portfolio (motor, fire, marine, accident, bonds) and a similar branch-led distribution model. Direct peer on SME and commercial accounts, and similar in scale to Serene within the Ghanaian market.
• Hollard Insurance Ghana: Subsidiary of pan-African insurer Hollard, offering motor, home, business, and travel insurance in Ghana through both broker and direct channels. Competes with Serene on retail motor and SME packages, and brings deeper pan-African underwriting expertise and capital backing.
• Activa International Insurance (Ghana): Ghanaian non-life insurer covering motor, fire, marine, accident, and engineering products. Serene's CFO previously served as Finance Manager at Activa for over seven years, indicating close market positioning on product set and customer base.
• Vanguard Assurance Company Limited: Ghanaian non-life insurer offering motor, fire, marine, accident, and engineering cover through branches in major cities. Direct competitor on SME and corporate business, with similar size and branch footprint to Serene.
• RegencyNem Insurance Ghana Limited: Ghanaian non-life insurer offering motor, fire, marine, and accident insurance. Serene's GM Technical was previously Deputy General Manager Operations at RegencyNem, underscoring direct overlap in product lines, target customers, and operational talent pool.
• Donewell Insurance Company Limited: Ghanaian non-life insurer offering motor, fire, marine, accident, and engineering cover. Direct peer on product lines and target customer segments; multiple Serene senior managers and board members have Donewell tenure.

Broad incumbents

• Sanlam General Insurance Ghana: Subsidiary of pan-African financial services group Sanlam, offering general insurance products in Ghana alongside life and investment lines. Broader incumbent with deeper capital and pan-African underwriting experience; Serene's Head of People previously led HR at Sanlam General.
• Old Mutual Ghana (General Insurance): Pan-African financial group's Ghanaian general insurance arm offering motor, home, business, and commercial cover. Larger, well-capitalized incumbent competing with Serene on both retail and corporate accounts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/insuranceserene
• Facebookfacebook.com/SereneInsuranceGH
• LinkedInlinkedin.com/company/serene-insurance

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Serene Insurance