SANLAM LIFE INSURANCE GHANA LTD. & 2 ORS vs. THE COMMISSIONER NATIONAL INSURANCE COMMISSION & OFFICE OF THE REGISTRAR OF COMPANIES

RULING This is an Application on Notice filed by Sanlam Life Insurance Ghana Ltd. and Allianz Life Insurance Ghana Ltd. on 19th April, 2024, being brought under the Insurance Act of 2021 (Act 1061) and the Companies Act of 2019 (Act 992) in which the Applicants prayed for the following. i. An order for the approval of the merger between the two companies; and ii. An order exempting the Applicants from the requirements of publishing a fairness report. The Court notes that the relevant institutions, being the National Insurance Commission (NIC) and the Office of the Registrar of Companies (ORC) are the Respondents in this application who have both been duly served and present in Court today. Both Counsel for NIC and ORC have indicated to the Court that they have no objection to the merger and in particular due regard is made to Applicants’ Exhibit ‘B’, being the no-objection letter of NIC dated 8th May, 2024. I have reviewed the Application, the Affidavit and the Supplem...