Alfred Yaw Ofori-Kuragu ACII MBA LLB is a Managing Consultant at AP&L Consult. He comes to the insurance brokerage industry with an ethos and proven track record of delivering results and building strong partnerships with clients. With a career in insurance, spanning some 35 years, Alfred has grown to become a thought-leader, role-model and reference point for many professionals within the industry on the African subcontinent. He is the immediate-past Managing Director of GLICO General Insurance in Ghana; (served between March 2013 and December 2017) responsible for the company’s return to profitability and significant growth in premium income and operational efficiency. Prior to joining GLICO General, he was the widely-regarded General Manager responsible for Technical Operations, at State Insurance Company Limited, a position he held from 2004 to 2012
Although, a rounded professional with in-depth knowledge and experience in the insurance business he is particularly recognised for his expertise in underwriting Engineering & Construction Insurances including multi-million dollar Oil and Gas projects – most notable amongst clients and policies underwritten being:
- Takoradi Thermal Plants (T1, T2 and T3) – Comprehensive Machinery Insurances relating to the Erection and Operation of the three Plants.
- Volta River Authority (VRA) – Guarantee Bond in respect of a US$100million loan facility to finance the cost of the completion f a 220MW Kpone Thermal Power Project (KTTP) and the dual fuel conversion works for the Mines Reserve Plant.
- Sunon Asogli Power Plant – Comprehensive Machinery Insurance relating to the Construction/Erection of a 200MW natural gas fired Thermal Plant valued in excess of US$460million.
- Tullow Oil/Kosmos Energy – Together with MARSH Brokers, London, did Comprehensive Engineering insurance relating to the construction of the Jubilee Oil Rig valued at US$1.2billion.
- Tema Oil Refinery – Assets All Risks Policy in respect of the refinery valued at over US$1.5billion.
- Social Security and National Insurance Trust (SSNIT) – Contractors All Risks Insurances in respect of several SSNIT Projects including World Trade Centre, Emporium and Ambassadorial Area Buildings all in Accra.
The above projects entailed:
- Site visits with industry Experts/Engineers to survey the risks and the operational processes whilst introducing varied control measures to minimize the risks identified
- Analyzing, reviewing and issuing of the policy wording to protect all parties.
- Attending meetings with Representatives of our Clients to structure the risk in a manner consistent with underwriting requirements.
- Engaging in post insurance audits to ensure appropriate measures have been put in place to curtail claims.
Alfred is an Associate of the Chartered Insurance Institute (ACII) of London and holds an Executive MBA in Finance from the University of Ghana Business School. He is product of the University of Ghana, he obtained the B.A Degree in Sociology with Political Science and further had his legal education and training at the Ghana School of Law and was called to the Bar in October, 1997. He has attended and contributed to several international courses on business management and insurance practice. These include Insurance Management Simulation organized by Swiss Re in Johannesburg, South Africa; Management Development Program at the University of Cape Town Graduate School of Business, South Africa and Advanced Reinsurance and Engineering Insurance in Johannesburg, South Africa all organised by Munich Re.
Other courses attended include – Reinsurance of Catastrophic Risk in Casablanca, Morocco; Commercial Property Risk Underwriting with Swiss Re, South Africa; Advanced Engineering Insurance at the Swiss Insurance Training Centre (SITC) with Swiss Re in Zurich, Switzerland and Basic Engineering Insurance with Munich Re, in Munich, Germany.
These courses have contributed to his in-depth understanding of Energy Insurances and Risk Management practices which have impacted positively on his approach to handling of intricate risks for various lines of insurance business
Alfred is also Senior Lecturer at the Ghana Insurance College and is often invited to be a subject matter expert at international conferences organised by the Ghana Reinsurance Company Limited and Continental Re(insurance) of Nigeria. He is partial to a round or two of golf. Do get in touch if you fancy a game.