Regulatory Alerts2025-09-12
Bank of Ghana Bancassurance Directive, 2025
The Bank of Ghana has issued this directive to regulate Bancassurance operations for banks and specialised deposit-taking institutions by mandating the Distribution Partnership Model. Regulated financial institutions must secure prior Bank of Ghana approval and a National Insurance Commission corporate agent licence while maintaining prescribed capital adequacy ratios, robust risk management frameworks, and strict separation of underwriting risks. The framework prohibits mandatory bundling with banking services and co-branding, ensures clear consumer disclosures and insurer-led claim settlement, and takes effect on 1 July 2026 with transitional compliance for existing agreements.
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