LocationsREQUEST FOR EXPRESSIONS OF INTEREST
January 22, 2026
REQUEST FOR EXPRESSIONS OF INTEREST
MINISTRY OF FINANCE PROJECT NAME: SUB-SOVEREIGN PARAMETRIC FLOOD RISK INSURANCE FOR THE GREATER ACCRA METROPOLITAN AREA (GAMA)
REQUEST FOR EXPRESSIONS OF INTEREST
ENGAGEMENT OF LICENSED INSURANCE COMPANIES TO EXPRESS INTEREST IN UNDERWRITING THE GOVERNMENT OF GHANA’S $10 MILLION PARAMETRIC FLOOD RISK INSURANCE COVER FOR GAMA.
IFT NO.: GH/MOF/CS/QCBS/02/2025
Background
The Ministry of Finance in partnership with the National Insurance Commission (NIC), the National Disaster Management Organization (NADMO), and the United Nations Development Programme (UNDP) under the Insurance and Risk Finance Facility (IRFF), has developed a Sub-Sovereign Parametric Flood risk Insurance Solution for the Greater Accra Metropolitan Area (GAMA). The Ministry is inviting licensed insurance companies in Ghana and global insurers and reinsurers to express interest in underwriting the Government of Ghana’s $10 million parametric flood risk insurance cover for GAMA.
The objective of the Assignment
The objective is to identify and engage eligible local insurance companies (or a consortium of both local of foreign companies) capable of underwriting and delivering the US$10 million Sub-Sovereign Parametric Risk Insurance Cover for GAMA in partnership with reinsurance providers where necessary.
Services included under this Assignment
The selected firms will be expected to underwrite the Government of Ghana’s $10 million flood risk coverage for GAMA; work with NIC, MoF, and UNDP to finalize contractual arrangements and payout protocols; ensure full compliance with NIC regulations for sovereign/sub-sovereign products; partner with local and/or international reinsurers to manage risk exposure; participate in technical briefings and operational readiness exercises; and support public communication and awareness as part of the launch.
Eligibility Criteria
The Ministry of Finance now invites eligible and qualified firms to indicate their interest in providing this service. For eligibility, interested insurers must :
be a legally registered firm with valid registration certificates with the relevant authorities;
be duly licensed by the National Insurance Commission (NIC) to operate in Ghana;
provide Company profile and organizational structure;
hold a valid GRA Tax Clearance Certificate;
hold a valid SSNIT Clearance Certificate;
hold a valid PPA Registration Certificate;
demonstrate financial capacity to underwrite a share of the $10 million cover (individually or as part of a consortium);
provide evidence of relevant experience in parametric or catastrophe risk products (local or international);
show capacity to access adequate reinsurance arrangements with reputable reinsurers; and
have a proven track record of timely claims settlement and strong operational governance.
A consultant may associate with other firms in the form of a Consortium Joint Venture or SubConsultancy to enhance their qualification.
An insurance firm will be selected in accordance with the Quality and Cost Based Selection Method as set out in the Public Procurement Act 663 as amended.
Submission of Expression of Interest
Expression of Interest in English (One original, five (5) copies and 1 soft copy), must be delivered to the address below in written form marked “ENGAGEMENT OF LICENSED INSURANCE COMPANIES TO EXPRESS INTEREST IN UNDERWRITING THE GOVERNMENT OF GHANA’S $10 MILLION PARAMETRIC FLOOD RISK INSURANCE COVER FOR GAMA”
Interested Consultants may obtain further information at the address below during office hours 8:00 am to 4:00 pm Monday to Friday.
Deadline: Expressions of Interest must be delivered to the address below not later than 4:00 pm on Tuesday, 27th January, 2026
The Chief Director Ministry of Finance P.O. Box MB 40 Ministries – Accra
Attn: Procurement Division Room 340, Main Block
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