Ghana: Star Assurance Group appoints new Chief Executive Officer

Star Assurance Group, comprising Star Assurance, StarLife Assurance, StarMicroinsurance, StarHealth Insurance, and Pensol Capital Trust, has named Samuel Kweku Ocran as its new Group Chief Executive Officer. He succeeds the former CEO, Mr. Kofi Duffuor, who dedicated over three decades of service to the Star Assurance Group and its subsidiaries.

Prior to assuming this role, Mr. Ocran served as the Chief Operating Officer at Star Assurance Group. With over 30 years of experience in the insurance sector, he brings a wealth of expertise and hands-on leadership to guide the group’s future growth.

Mr. Ocran’s career is marked by significant accomplishments, including his tenure as Deputy Managing Director/Chief Operations Officer at Star Assurance. Under his leadership, the company achieved notable success, ranking among the top three non-life insurers in terms of premium income and assets.

In addition to his professional roles, Mr. Ocran has made noteworthy contributions to the insurance industry through entrepreneurial ventures and knowledge-sharing activities. His dedication as a lecturer and resource person has been instrumental in fostering industry growth and development.

Samuel Ocran’s leadership style is characterized by a focus on collaboration, innovation, and adherence to corporate governance standards. This positions Star Assurance Group for a future marked by progressive leadership and sustained growth.

Expressing gratitude for his new role, Mr. Ocran acknowledges the privilege and confidence placed in him by the Management and Board. He remains thankful for their unwavering support and is committed to steering Star Assurance Group towards continued success.

“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 a Deputy Manager and Assistant General Manager, respectively. He also worked with the prestigious African Reinsurance Corporation in Lagos, Nigeria.

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 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, Emmanuel 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. His focus remains in spearheading pivotal strategic initiatives within the insurance realm for the group.