Donewell Insurance Company Limited has shown a good half-year financial statement. By the close of June, 2012, the company has raked in a gross premium income of GH¢6.9million.
Net premium earned also improved to GHC-5.1million. All other financial indicators improved positively. Claims incurred were GH¢1.4million while management expenses also accounted for about GH¢1.9million in the period under review.
Underwriting profit raked in half-year GH¢1.1 million, catching up with the GH¢1.2million effort made in the full-year of 2011.
Business and Financial Times learnt that the leap in all the financial indicators in the year under review was the result of an aggressive restructuring posture taken by the board.
A new management team was assembled, led Nii Otinkorang Ankrah. The new Managing Director intimated to Business and Financial Times that the new team embarked on internal processes restructuring.
Mr. Ankrah disclosed that the three triangular transformation efforts, internal process restructuring, capacity building, and customer relationship has actual boosted productivity.