George Otoo Board Chairman
Areas of expertise
- Business transformation
- Restructuring and turnaround
- Growth strategy
- M&A transaction support
- MBA in Insurance Management from the University of Nottingham Business School, U.K
- Chartered Associate of the Chartered Insurance Institute of U.K.
- Diploma in Insurance with Distinction from the West African Insurance Institute (WAII) then based in Liberia.
Mr. George Otoo is a Chartered Insurance Practitioner of over 30 years experience in the insurance industry. He entered the insurance industry in 1981 when he was appointed as Technical Trainee at Enterprise Insurance Co. Ltd. He held various positions in the company until he was appointed General Manager in charge of Operations in 1998. A year later, the board appointed him Managing Director whereupon he assumed full control of the management of the Company.
Upon assumption, George Otoo re-engineered the Company by computerising and networking all operations across the country. He introduced a highly successful novel workflow process known as Workgroup Concept, whereby workflow processes were based on the type of client rather than the type of product sold to the client.
He spearheaded the founding of Enterprise Life Assurance Company (ELAC) in 2001 in partnership with African Life Assurance of South Africa (later bought by Sanlam) and the IFC of the World Bank. ELAC today is the biggest life assurance company in Ghana by both premium and assets
In 2010, he created a holding company structure at Enterprise with the aim of identifying and creating subsidiaries to provide services across the spectrum i.e. from cradle to grave. Enterprise Group was listed in 2010 to replace Enterprise Insurance on the Ghana Stock Exchange. Enterprise Group to date has the following subsidiaries:
1. Enterprise Insurance (General Insurance)
2. Enterprise Life (Life Insurance)
3. Enterprise Properties (Real Estate)
4. Enterprise Trustees (Pension Administration)
5. Transitions (Funeral Services)
He became the Group’s first CEO in 2010.
George Otoo retired from Enterprise in 2014 after 33 years service to the company with market capitalisation of US $130 million from US $1.5 million when he took over at Enterprise Insurance.
He Chartered in 1989 as an Associate of the Chartered Insurance Institute of U.K. Prior to that he obtained a Diploma in Insurance with Distinction from the West African Insurance Institute (WAII) then based in Liberia.
George Otoo also holds an MBA in Insurance Management from the University of Nottingham Business School, U.K.
Directorships he has held to date are as follows:
1. Mainstream Re – 1999 to 2017 (Resigned)
2. TIGO Ghana Advisory Board – 2013 to 2015
3. Databank EPACK Investment – 1999 to date
4. Enterprise Group – 2010 to date
5. Enterprise Properties – 2011 to date
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