Star Assurance Group appoints new Chief Executive Officer

Star Assurance Group appoints new Chief Executive Officer.  Mr Kweku Ocran has been appointed as the new Group Chief Executive Officer (CEO) for Star Assurance Group, the parent company of Star Assurance, StarLife Assurance, StarMicroinsurance, StarHealth Insurance, and Pensol Capital Trust.

In a media release copied to the Ghana News Agency, the company said Mr Ocran takes over the leadership role from Mr. Kofi Duffuor, the former Chief Executive Officer, who has served the Star Assurance Group and its subsidiaries for more than 30 years.

Prior to this recent appointment, Mr Ocran served as the Chief Operating Officer (COO) at Star Assurance Group.

“With an illustrious career spanning over three decades in the insurance sector, Mr. Ocran is a hands-on executive and ascends his new role with a wealth of experience and expertise to guide the group through its next phase of unprecedented growth,” it said.

“Mr Ocran’s impactful journey in the insurance industry is highlighted by significant achievements, notably his role as Deputy Managing Director/Chief Operations Officer at Star Assurance.

“Under his leadership, the company achieved remarkable success, securing its position among the top three non-life insurers in terms of premium income and assets.”

Beyond his professional roles, the release said, Mr Ocran’s dedication to excellence extended to his entrepreneurial ventures and a strong commitment to knowledge-sharing.

“His contributions as a lecturer and resource person have played a pivotal role in fostering the growth and development of the insurance industry,” it said.

“His leadership style is distinguished by his ability to foster collaboration, encourage innovation, and uphold high standards of corporate governance.

“This sets the stage for an era of progressive leadership and growth for Star Assurance Group.”

Mr. Samuel Kweku Ocran, in expressing his gratitude for this new role, stated:” I deem it a great privilege to be appointed as the Chief Executive Officer of the Star Assurance Group. I am humbled by the confidence reposed in me by the management and board, and I remain grateful to them for their unfailing support over the years.”

He said: “With the support of the board, management, and our hard-working colleagues, I am confident that, together, we will continue to bring quality insurance solutions to our clients and continue to raise the standard of insurance in Ghana.”

Mr Ocran joined Star Assurance in 2006 and has since held many senior roles.

Prior to that, he commenced his insurance career with Vanguard Assurance and Enterprise Insurance as Deputy Manager and Assistant General Manager, respectively.

He also worked with the prestigious African Reinsurance Corporation in Lagos, Nigeria, and he has been in the insurance industry as a key player and resource person for over 30 years now.

Mr Ocran is currently a board member of the Ghana Oil and Gas Insurance Pool (GOGIP).

The new Chief Executive Officer is a Chartered Insurer and a Fellow, and he is also a member of the Chartered Insurance Institute (UK).

He is a member of the Chartered Institute of Marketing (UK). He also holds a Master of Business Administration (Marketing Option) degree and a BSc. Admin. (Insurance Option), both from the University of Ghana.

Mr. Emmanuel Baiden, who now steps into the role of Group Chief Operating Officer, originally served as the Group Chief Finance Officer.

With a career spanning over two decades, Emmanuel has left an indelible mark across various sectors.

In 2001, Mr. Baiden embarked on his remarkable tenure with Star Assurance Company Limited, where he amassed extensive experience in the insurance industry, gaining over fifteen years of invaluable insights and accomplishments.

“Mr. Kofi Duffuor, the former Chief Executive Officer, having served over 30 years with the group and its subsidiaries, continues to play a vital role on the Star Assurance Group Board and other boards,” the release said.

“His focus remains on spearheading pivotal strategic initiatives within the insurance realm for the group.”

Source: GNA