Phoenix Insurance

What Phoenix Insurance does

Phoenix Insurance Ltd. is a Ghanaian private limited liability general insurance carrier incorporated in 1995 under the Companies Code of 1963 (Act 179), with majority ownership held by CD Investment Limited, a Ghanaian investor consortium. The company underwrites the full non-life insurance stack in Ghana — motor (comprehensive, third-party, third-party fire and theft), fire and allied perils (including homeowner, asset all-risk, business interruption), accident and liability (employer's liability under the Workmen's Compensation Act, group personal accident, cash-in-transit, public/product liability, burglary, goods-in-transit, machinery breakdown, contractors all-risk), CEPS/customs bonds, contractor bonds (bid, performance, advance mobilization), and marine cargo — supported by a multi-reinsurance panel that includes Munich-Re, Swiss-Re, Africa Re, WAICA Re, Continental Re, and Ghana Re for capacity on large and specialized risks including construction, energy, and aviation.

The company runs an insurance management and underwriting platform with online quoting, a client portal, and digital claims processing, layered onto a physical distribution model of more than ten branches and agency offices across Ghana (Accra head office, Tema, Kumasi Adum and Bantama, Takoradi, Sunyani, Koforidua, Tamale, Adenta, East Legon, plus agency offices at Winneba, Cape Coast, Tarkwa, Weija, and 37 DVLA). Distribution is intentionally multi-channel: branches for in-person service, partner banks for embedded referrals, DVLA agency offices for point-of-registration motor issuance, an online quote platform at phrontlyne.com for self-service, and phone-based support. Pricing is quote-based and not publicly disclosed; revenue is generated through recurring insurance premium income across personal and commercial lines, with the corporate segment (large-scale commercial, construction, energy, aviation underwriting) acting as a secondary rather than primary segment.

The company employs 101–250 staff organized by functional specialty (underwriting, claims, risk/compliance/AML, reinsurance, IT, audit, HR, finance, business development) with a branch-led management structure headed by Henry Bukari as Managing Director. Phoenix self-describes as a top-tier Ghanaian general insurer with 30+ years of operational track record and an "unbeatable claims payment record," serving a long-tenured base of individual, SMB, and corporate clients many of whom have remained with the company since incorporation. No external funding rounds, revenue figures, or capital actions are disclosed; ownership remains concentrated with CD Investment Limited as majority shareholder.

Name

Phoenix Insurance

Legal name

Phoenix Insurance Ltd.

Website

https://phoenixinsurancegh.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

Phoenix Insurance is a Ghanaian general insurance carrier (founded 1995) underwriting motor, fire, accident, bonds, marine cargo, and engineering policies for individuals, small businesses, and corporates, distributed through 10+ branches, DVLA agencies, partner banks, and an online quote platform.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Agencies and Brokerages (524210)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro industry

PRIMARYFSAJAFAL

Healthcare Offices BOP (Medical/Dental/Vet Clinics)

Financial & Insurance/Insurance — Motor, Property & Casualty/Commercial Package / Business Owners Policies (BOP)

SECONDARYFSAJAMAG

Commercial Package / Business Owners Policies (BOP)

Financial & Insurance/Insurance — Motor, Property & Casualty/Motor Vehicle Liability Insurance

SECONDARYFSAJAMAE

General Liability Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Motor Vehicle Liability Insurance

SECONDARYFSAJAGAG

Product Liability & Recall

Financial & Insurance/Insurance — Motor, Property & Casualty/Specialty & Excess/Surplus Lines (E&S)

SECONDARYFSAJANAC

Excess Liability Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Umbrella Insurance

Keywords

• General insurance
• Motor insurance
• Fire insurance
• Marine cargo insurance
• Surety bonds

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premium Income: Phoenix Insurance generates revenue through underwriting general insurance products including engineering, bonds, motor, fire, accidents, and marine insurance. The company collects premiums from policyholders and pays claims as they arise, with reinsurance arrangements to manage large risks.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Phoenix Insurance is a Ghana-based general insurance company that underwrites motor, fire, accident, engineering, marine cargo, and bond/surety insurance products for both individuals and businesses. The company collects premiums from policyholders, pays claims as they arise, and uses local and international reinsurance arrangements (Munich-Re, Swiss-Re, Africa Re, WAICA Re, Continental Re, Ghana Re) to underwrite risks ranging from personal motor and property policies to large corporate and engineering risks.

Product overview

Phoenix Insurance is a Ghana-based general insurance company offering a comprehensive portfolio of insurance products and services. The company operates a multi-product platform consisting of motor insurance (comprehensive, third party, third party fire & theft), fire insurance (standard fire, fire and allied perils, combined fire and burglary, assets all risks, business interruption, homeowners), accident policies (employer's liability, group personal accident, cash-in-transit, burglary, goods-in-transit, public liability, product liability, machinery breakdown, contractors insurance), CEPS/customs bonds, contractor bonds (bid, performance, advance mobilization), marine cargo insurance, and engineering insurance. The company also provides reinsurance support services through international partnerships. Products are delivered through a network of branches across Ghana with a focus on customer service excellence.

Differentiator

Problem solved

Functional benefit

Products and services

• Phoenix Comprehensive Motor Insurance Comprehensive motor insurance policy covering vehicle loss or damage from accidental collision, overturning, mechanical breakdown, theft, fire, and natural disasters, including third party liability and personal accident benefits. Designed for individual vehicle owners and corporate fleet operators in Ghana.
• Phoenix Third Party Insurance Basic third party liability coverage protecting against legal liability for death or bodily injury to third parties and damage to third party property. For vehicle owners seeking the minimum statutory coverage in Ghana.
• Phoenix Third Party Fire & Theft Insurance Third party coverage extended to include loss or damage to the insured vehicle arising from fire and theft. For vehicle owners wanting basic own-vehicle protection on top of statutory third party liability.
• Phoenix Standard Fire Insurance Policy Fire insurance policy protecting owners of insured property against fire, lightning, and explosion arising out of domestic use of boilers or gas. For homeowners and small businesses seeking property protection.
• Phoenix Fire and Allied Perils Insurance Policy Policy covering damage from fire, lightning, explosion, impact, aircraft, wind storm, flood, bursting pipes, earthquakes, riots and strikes. For property owners needing broader all-risks-style property coverage.
• Phoenix Combined Fire and Burglary Insurance Policy Combined policy covering fire and allied perils, burglary, public liability, and group personal accident risks. For SMEs and individuals seeking combined property and liability coverage.
• Phoenix Asset All Risks Policy Policy covering fire and allied perils and all accidental damages to insured items. For businesses and individuals protecting high-value movable or fixed assets.
• Phoenix Business Interruption Policy Insurance policy protecting businesses against loss of income and additional expenditure caused by interruption through fire and/or allied perils. For Ghanaian businesses facing revenue continuity risk.
• Phoenix Comprehensive Homeowners Policy Comprehensive insurance coverage for homeowners protecting against multiple risks to their property. For individual homeowners in Ghana.
• Phoenix Employer's Liability (Workmen's Compensation) Policy Mandatory coverage for employers under Ghana's Workmen's Compensation Act, covering employees for accidental injury during working hours. For Ghanaian employers across industries.
• Phoenix Group Personal Accident Policy 24-hour accidental injury coverage for groups of people under one policy, providing protection against injury and death arising out of employment. For employers and organizations covering groups of staff.
• Phoenix Cash-In-Transit / Cash-In-Safe Policy All-risk cover for money in transit being carried by the insured or authorized representatives, extendable to cover cash in safe at named premises. For businesses handling physical cash movements.
• Phoenix Burglary Policy Insurance coverage against burglary and theft-related losses. For businesses and homeowners seeking protection against theft.
• Phoenix Goods-in-Transit Policy Coverage for goods being transported, protecting against loss or damage during transit. For importers, exporters, and logistics operators moving goods across Ghana.
• Phoenix Public Liability Policy Coverage protecting businesses against legal liability for third party injuries or property damage. For Ghanaian businesses exposed to third-party liability risk.
• Phoenix Product Liability Policy Coverage for legal liability arising from products causing injury or damage to third parties. For manufacturers, distributors, and retailers of physical goods.
• Phoenix Machinery Breakdown Policy Coverage for sudden and accidental breakdown of machinery equipment. For industrial and commercial operators dependent on machinery uptime.
• Phoenix Contractors Plant & Machinery Insurance Policy Insurance coverage for contractors' plant and machinery equipment. For construction contractors operating heavy equipment and plant.
• Phoenix Contractors All-Risk / Erection-All-Risk Policy Comprehensive coverage for contractors covering all risks during construction and erection phases. For construction and engineering contractors and project owners.
• Phoenix CEPS Bonds Customized customs bond products for importers and local manufacturers, including transit bonds, re-exportation bonds, warehouse bonds, exportation bonds, removal bonds, and custom agent bonds. For Ghanaian importers, exporters, and manufacturers.
• Phoenix Bid Bond Policy Bond guaranteeing that a bidder will remain in the bidding process and sign the contract if awarded. For construction contractors participating in tender processes.
• Phoenix Performance Bond Guarantee to the principal that the contractor will perform the project according to specifications within the given time. For principals/employers contracting with construction and engineering firms.
• Phoenix Advance Mobilization Bond Guarantee ensuring refund of advance mobilization funds if the contractor defaults in project performance. For principals advancing mobilization funds to contractors.
• Phoenix Marine Cargo Policies Protection for importers, exporters, companies and individuals against loss, theft or damage to goods conveyed by sea, waterways, road or rail, including an Open Cover Facility providing automatic 24-hour cover for declared imports or exports. For Ghanaian importers, exporters, and trade-dependent businesses.
• Phoenix Underwriting Support Reinsurance-supported underwriting service utilizing international reinsurers (Munich-Re, Swiss-Re, Africa Re, WAICA Re, Continental Re) and local reinsurer Ghana Re to enhance capacity and financial security for underwriting major risks, including specialized areas such as construction, energy, and aviation. For large commercial and corporate clients requiring high-capacity underwriting.

Quantifiable outcome

• Settle and pay genuine claims within days after required supporting documents are submitted
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• Munich-RecoreOthersInternational reinsurance partner providing underwriting capacity and financial security for major risks across all classes of insurance business including specialized areas such as construction, energy, and aviation.
• Swiss-RecoreOthersInternational reinsurance partner providing underwriting capacity and financial security for major risks.
• Africa RecoreOthersInternational reinsurance partner providing underwriting capacity and financial security for major risks.
• WAICA RecoreOthersInternational reinsurance partner providing underwriting capacity and financial security for major risks.
• Continental RecoreOthersInternational reinsurance partner providing underwriting capacity and financial security for major risks.
• Ghana RecoreOthersLocal reinsurance company serving as Phoenix Insurance's main domestic reinsurer. Ghana Re is described as financially and technically sound, able to compete in the reinsurance market both locally and internationally.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Regional players

• AXA Mansard Insurance: Nigerian general insurer within the AXA Group offering motor, fire, marine and specialty cover. Comparable product portfolio and bancassurance-led distribution, though operating primarily in Nigeria rather than Ghana.
• AIICO Insurance: Nigerian composite insurer with general insurance lines including motor, fire and marine. Useful regional comparable for general insurance underwriting economics across West Africa, although primarily Nigerian.

Direct peers

• SIC Insurance Company: State-owned Ghanaian general insurer offering motor, fire, marine and accident policies with an extensive national branch footprint. Closely comparable in product mix, distribution model and target customer segments to Phoenix.
• Star Assurance Company: Ghanaian general insurance carrier underwriting motor, fire, marine, bonds and engineering lines for individuals and businesses. Competes directly with Phoenix across product, channel and customer segments in Ghana.
• Vanguard Assurance: Ghanaian general insurer with comparable personal and commercial product lines including motor, fire and bonds. Operates a similar multi-branch, multi-channel distribution model targeting individuals and SMEs.
• Hollard Insurance Ghana: Subsidiary of pan-African insurer Hollard Group offering general insurance products in Ghana. Direct competitor for personal and commercial lines with stronger pan-African capital backing.
• Enterprise Insurance Company: One of Ghana's largest indigenous general insurers offering motor, fire, marine and accident coverage with a comparable branch network. Direct competitor for both personal and commercial general insurance lines in Ghana.
• Metropolitan Insurance Ghana: Ghana general insurance operation within the MMI Holdings (now Sanlam Emerging Markets) group. Comparable personal lines (motor, fire) and commercial lines product set targeted at individuals and SMEs in Ghana.

Broad incumbents

• Santam: South Africa's largest general insurer with a specialty and commercial lines franchise. Useful benchmark for Phoenix's specialty lines (engineering, marine, aviation) given similar reinsurance-driven capacity model and African footprint.
• Old Mutual Ghana: Pan-African financial services group with a general insurance presence in Ghana. Competes with Phoenix across motor, fire and commercial lines while offering a wider portfolio including life and investments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/phoenixinsuregh
• Facebookfacebook.com/phoenixinsuregh
• LinkedInlinkedin.com/company/phoenix-insurance-company-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles24 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 Phoenix Insurance