Like any other profession, the need for a professional body became necessary to provide a unifying and common platform to regulate the professionals working in the insurance market. This was what urged the pioneering professionals to come together to establish the Insurance Institute of Ghana (now the Chartered Insurance Institute of Ghana) in the year 1970.
The Institute was formally inaugurated in 1972 by the late former Head of State Col. I.K. Acheampong. The first governing Council included the late Mr. Anthony Woode, Mr. Emmanuel Lartey, Mr. J. R Marcells, Nana Awuah Darko and Mr. Osei Kuffuor. The Institute in the year 1980 was officially incorporated as a company Limited by Guarantee under the Companies’ Code 1963, Act 179.
The Institute for a very long period of inactivity saw a decline in patronage by members who were on roll rendering it dormant.
Past Presidents of the Institute include Nana Awuah Darko-Ampem I, Mr. Osei Kuffuor, Mr. Edward Mensah, Mr. Selbi Ashong- Katai and Mr. Albert Brock.
The Insurance Institute of Ghana became the Chartered Insurance Institute of Ghana (CIIG) in the year 2017 under the leadership of its President, Rev. Asante Marfo-Ahenkora, Managing Director of Tri-Star Insurance Services Ltd.
The core values of the Institute are Professionalism, Integrity and Excellence and its main objectives are to promote the development of the Insurance profession and practice to ensure the integrity of insurance management in the country and also ensure that insurance practice and services are of the highest possible standards and conform to internationally-accepted best practice.
The Institutes currently boasts of 538 registered Members even though it is estimated that the Ghana insurance industry has an estimated 1500 professionally qualified members.
The operations of the Institute are led by the Governing Council which is made up of 6 elected Members, 4 Institutional Representatives and 1 Ex-officio Member.