SIGA rejects claims of steering SOE insurance to SIC
SIGA rejected allegations that it directed state-owned enterprises (SOEs) to channel insurance business exclusively to SIC Insurance PLC and SIC Life Company Limited.
Dr. Michael Kpessa-White, Director General of SIGA, made the clarification during an interview with Joy FM Newsnight on Wednesday following a report by policy think tank IMANI Africa. IMANI had published documents suggesting that letters from SIGA were pushing SOEs to prioritise the two state insurers. Dr. Kpessa-White explained that the letters were intended only to ensure SIC and SIC Life "remain at the table" during insurance competitions and were not meant to concentrate SOE insurance in their hands. He noted that an earlier letter had been sent to SOEs and other specified entities, clarifying the role of state insurers and prompting SIGA to hold a meeting with SIC, SIC Life, and private insurers to address concerns. After the meeting, Dr. Kpessa-White said, "all parties understood the guidance, and there was no issue of monopolisation."
Dr. Kpessa-White also suggested that some private insurers may have misrepresented the letters, noting that SIGA plans to identify those who have done so publicly.
Quick Summary
SIGA is responding to claims that they instructed state-owned enterprises to direct insurance business specifically to SIC Insurance PLC and SIC Life Company Limited- a policy think tank raised concerns. The Director General insists their intentions were misunderstood, but what could the real impact be?
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