The management of insurance service provider, UT Life Insurance, Limited has said recent events at UT Bank does not affect its operations.
The insurance company is assuring customers that the takeover of UT Bank by GCB Bank would not affect their investment in UT Life in any way because the company is financially very stable and vibrant.
Find the full statement below.
CUSTOMER NOTICE
Management of UT Life Insurance Company Limited wishes to assure all its cherished customers that the recent announcement by Bank of Ghana on the takeover of UT Bank by GCB Bank Limited does not in any way affect UT Life.
Customers’ policies and relationships with UT Life remain unchanged. UT Life is and has always been a completely separate entity from UT Bank, and therefore UT Bank has no ownership in UT Life.
UT Life was acquired by Leapfrog
Investments from UT Holdings in December 2015 with a majority shareholding of above 80%.
UT Life is strongly capitalized at GH¢36 million which is over the minimum regulatory requirement of GH¢15 million.
Our capital adequacy ratio is over 300% as of June 2017, and reflects our financial stability, strength and liquidity.
Our offices remain open for business and you can contact us for further information on 020 202 1005.
Signed
By Management
