Learn and Lead with Humility: Ghana’s Insurance Retirees Forum Explained

The launch of the Insurance Retirees Forum of Ghana (IRFG) marks a strategic and necessary evolution in the nation’s insurance landscape. This initiative, spearheaded by the National Insurance Commission (NIC) and the Chartered Insurance Institute of Ghana (CIIG), formally integrates the vast experience of retired professionals into the industry’s future. The guiding philosophy, as articulated by its Chairman, Mr. Peter Osei-Duah, centers on leading with humility and recognizing that an industry that neglects its pioneers risks losing its foundational soul. This comprehensive guide breaks down the significance, structure, and practical implications of this landmark forum for insurance professionals, regulators, and anyone interested in sustainable industry development.

Introduction: Bridging Generations in Insurance

On February 18, 2026, in Accra, a significant ceremony took place that went beyond a typical organizational launch. The inauguration of the Interim Advisory Council of the Insurance Retirees Forum of Ghana (IRFG) represented a formal commitment to institutional memory preservation and inter-generational knowledge transfer within Ghana’s insurance ecosystem. The forum is not a retirement club or a charity; it is a strategic professional body designed to harness the collective wisdom of veteran practitioners to strengthen standards, mentor youth, and advise on policy. In an era of rapid technological change and evolving regulatory frameworks, this initiative addresses a critical gap: how to retain hard-earned, tacit knowledge that often leaves the industry with retirements. The core message from leadership is clear: true progress requires humility—a willingness from seasoned experts to share without ego, and from younger professionals to learn with respect.

Key Points: What You Need to Know

The launch and mandate of the IRFG are built on several foundational pillars:

Official Launch: The Insurance Retirees Forum of Ghana (IRFG) was officially launched in Accra on February 18, 2026, following an inauguration of its Interim Advisory Council.
Leadership: The Interim Advisory Council is chaired by Mr. Peter Osei-Duah, former Managing Director of SIC Insurance PLC. Other members include Mr. Ivan Avereyireh, Mr. Kofi Ampaw, Dr. Francisca Karikari, Mr. Bonahopas Arkhurst, and Mr. Frank Oppong Yeboah. Representatives from the National Insurance Commission (NIC) and the CIIG also serve on the council.
Primary Mission: To create a structured platform that leverages the expertise of retired insurance professionals for mentorship, policy advisory, welfare support, and the reinforcement of ethical and professional standards.
Key Philosophy: Chairman Osei-Duah emphasized that the forum is “a statement of values,” warning that an industry that forgets its developers “risks losing its soul.” He urged young professionals to learn and lead with humility.
Regulatory Backing: The initiative is a direct outcome of the developmental agenda of the NIC, under the acting leadership of Commissioner Dr. Abiba Zakariah, and is being driven in collaboration with the CIIG, led by President Mr. Mrolomon Lartey.
Future Plans: Announced plans include establishing a dedicated retirees’ fund and creating a formalized national networking platform to integrate retirees into strategic industry planning.

Background: The Challenge of Institutional Amnesia

The Knowledge Drain in Financial Services

Globally, the insurance and broader financial services sector faces a profound challenge known as “brain drain” or “knowledge drain.” As baby boomer and Generation X professionals retire, they take with them decades of experiential knowledge—nuanced risk assessment techniques, historical context for regulatory changes, nuanced client relationship management, and lessons from past economic cycles. This tacit knowledge is rarely captured in manuals or software. In Ghana, a market with a robust and growing insurance penetration rate, this loss of institutional memory threatens sector stability and professional continuity. The IRFG emerges as a proactive solution to this universal problem, tailored to the Ghanaian context.

Ghana’s Insurance Sector: A Maturing Market

Ghana’s insurance industry has undergone significant transformation, with the National Insurance Commission (NIC) implementing stricter solvency requirements, market conduct rules, and push for increased penetration. This maturation requires a balanced approach: embracing innovation (like InsurTech) while anchoring developments in time-tested principles of risk management and fiduciary duty. The Chartered Insurance Institute of Ghana (CIIG) has long been the custodian of professional education and ethics. The IRFG represents a natural, collaborative extension of this custodianship, bridging the gap between the CIIG’s educational frameworks and the lived, practical experience of retired industry titans.

Analysis: Deconstructing the Forum’s Strategic Value

More Than a Social Network: A Formal Advisory Ecosystem

The IRFG is strategically designed to be an active contributor, not a passive association. Its outlined objectives reveal a multi-faceted value proposition:

Mentorship & Legacy Transfer: Creating structured mentorship programs where retirees guide young actuaries, underwriters, claims adjusters, and sales professionals. This goes beyond career advice to imparting the “why” behind industry practices.
Technical Advisory Support: Providing a pool of experts to review new policy drafts, assess the implications of regulatory changes, and offer historical parallels for current strategic decisions. This acts as a “shadow board” for regulators and company executives.
Welfare & Advocacy: Addressing the social welfare of retirees themselves, ensuring they remain connected and valued. This fosters a culture where professionals see a respected future beyond active service, making the insurance career path more attractive long-term.
National Networking Platform: Breaking down silos between life, general, and reinsurance companies, as well as between regulators, educators, and practitioners, to foster a unified industry voice and collaborative problem-solving.

The “Humility” Imperative: A Cultural Correction

The repeated emphasis on humility in leadership is not merely rhetorical. It addresses two critical cultural dynamics:

For the Retirees: Humility means sharing power and prestige. It requires veterans to listen to new perspectives on technology and markets while offering their wisdom without condescension. It is the transition from “I built this” to “let us build this together.”
For the Young Professionals: Humility means seeking counsel, respecting tenure, and understanding that technological savvy complements, but does not replace, deep sectoral experience. It challenges the potential arrogance of youth with the reality that sustainable success is built on the shoulders of predecessors.

This dual call for humility is the forum’s philosophical cornerstone, aiming to foster a collaborative industry culture rather than a competitive, generational divide.

Practical Advice: How to Engage with the IRFG

The success of the IRFG depends on active participation from all stakeholders. Here is actionable guidance for different groups:

For Young Insurance Professionals (Under 40)

Seek Mentorship Proactively: Do not wait to be assigned a mentor. Through the CIIG or NIC channels, identify retirees with expertise in your niche (e.g., marine insurance, actuarial science) and request informational interviews.
Ask “Why” and “What If”: When learning from a mentor, move beyond “how” to understand the historical “why.” Ask how past crises were managed and what principles remained constant.
Offer Your Tech Fluency: Reciprocate value. Offer to help a retiree understand new digital platforms, InsurTech trends, or social media marketing. This exchange builds mutual respect.
Uphold Ethics as Non-Negotiable: Internalize Chairman Osei-Duah’s charge. Recognize that professional integrity in insurance is the bedrock of client trust and industry stability. Let your conduct reflect this noble profession.

For Retired Insurance Professionals

Register Your Interest: Contact the CIIG or NIC to formally express your desire to contribute to the IRFG’s registry of experts.
Package Your Knowledge: Prepare case studies, “lessons learned” documents, or short lecture topics that distill your decades of experience into transferable modules.
Define Your Availability: Be clear about how much time you can commit—whether as a one-time speaker, a periodic consultant, or a long-term mentor.
Embrace the Evolution: See this not as a return to the past, but as an evolution of your service. Your role is to guide, not to dictate the present.

For Insurance Companies & Regulators (NIC)

Institutionalize the Partnership: Companies should create formal policies encouraging senior staff to mentor and post-retirement, to engage with the IRFG. Regulators should create formal consultation slots for the forum on draft regulations.
Fund the Infrastructure: The announced retirees’ fund requires corporate and individual contributions to support logistics, meeting spaces, and possibly stipends for retirees who engage in significant advisory work.
Integrate into Strategy: When developing new products, entering new markets, or designing digital transformation strategies, mandate a review or consultation with IRFG experts as part of the due diligence process.

FAQ: Common Questions About the Insurance Retirees Forum of Ghana

Is the IRFG a union or lobbying group for retirees?

No. Its primary purpose is not collective bargaining for pensions or benefits, though welfare is a component. It is a professional and advisory body focused on contributing to the industry’s technical and ethical development, not on advocacy for retirees’ personal financial interests.

How is the IRFG different from the CIIG’s existing membership?

The CIIG focuses on qualifying, educating, and certifying *active* professionals through exams and continuous professional development (CPD). The IRFG specifically taps into the *post-active* phase of a career, creating a dedicated channel for the experience of those who have completed their primary careers. It is a complementary, specialized ecosystem.

What specific “golden rules” did the Commissioner refer to?

While not enumerated in the speech, “golden rules” in an insurance context universally refer to core tenets: utmost good faith (uberrima fides), insurable interest, indemnity, proximate cause, and subrogation. More broadly, it encompasses the ethical imperative to place the policyholder’s interest on par with the company’s, maintain absolute confidentiality, and act with impeccable financial integrity.

Will participation in the IRFG be paid work for retirees?

The model is primarily voluntary and pro bono, based on the spirit of legacy contribution. However, the establishment of a dedicated fund, as announced, may allow for covering reasonable expenses or providing honoraria for significant, project-based advisory work that goes beyond general mentorship. This would be formalized in the forum’s operational guidelines.

Is this model unique to Ghana?

While the formalized, regulator-backed structure may be pioneering in Ghana, the concept exists globally. Similar bodies include the “Senior Actuarial Advisory Panel” in some jurisdictions, or “Fellows Emeritus” programs in professional institutes. What makes the IRFG notable is its explicit cross-functional scope (covering all insurance disciplines) and its direct linkage to the national regulator’s developmental agenda.

Conclusion: Securing the Soul of the Industry

The launch of the Insurance Retirees Forum of Ghana is far more than a ceremonial event; it is a strategic intervention in the lifecycle of a professional sector. It acknowledges that sustainable industry growth is not achieved by constantly looking forward with new technology alone, but by intelligently integrating the lessons of the past. The forum’s success hinges on the genuine practice of its core tenet: humility. For retirees, it means giving generously without patronizing. For the young, it means receiving graciously without arrogance. For institutions, it means creating the structures that make this exchange seamless and valued. If implemented with sincerity, the IRFG can become a global model for how mature insurance markets can preserve their institutional memory, strengthen their ethical fabric, and ensure that the noble profession of insurance—built on trust, risk management, and promise-keeping—continues to thrive for generations to come. It is, as Mr. Osei-Duah stated, truly “a statement of values.”

Sources

Life Pulse Daily. (2026, February 19). “Learn and lead with humility – Chairman of insurance coverage retirees discussion board advises.” Original news report.
National Insurance Commission (NIC) of Ghana. Official Website. (For regulatory context and official statements).
Chartered Insurance Institute of Ghana (CIIG). Official Website. (For professional body collaboration details).
World Bank and IMF reports on Ghana’s financial sector development (for macroeconomic context on insurance market maturity).

Disclaimer: This article is a rewritten, expanded, and SEO-optimized analysis based on the original news report from Life Pulse Daily. It synthesizes the reported facts, statements, and announced intentions of the stakeholders involved. The views expressed in the analysis are those of the writer, derived from the source material, and do not necessarily represent the official positions of the National Insurance Commission, the Chartered Insurance Institute of Ghana, or the individuals quoted. Readers should refer to the official bodies for definitive information on the IRFG’s evolving structure and programs.