SIC Insurance Company Limited, Ghana’s largest non-life insurance company, said on Wednesday that net profits for the first quarter of 2012 rose 36 percent to 8.6 million cedis ($4.7 million), compared to 6.3 million cedis ($3.4 million) in the same quarter in 2011.

The company also disclosed that basic earnings per share increased to 0.0440 cedis ($0.02) from 0.0323 cedis ($0.01).

SIC Insurance Company Limited is one of the oldest non-life (general business) insurance companies in Ghana, with operations in virtually all classes of short term insurance including five which cover Motor, Fire, Marine, Aviation, General Accident, and policies for the Hospitality Industry.