"SIC Insurance Granted One-Month Extension for 2024 Financial Statement Submission"

SIC Insurance Granted One-Month Extension for 2024 Financial Statement Submission

SIC Insurance Plc has been granted an extension to submit its audited financial statements for the 2024 fiscal year to the Securities and Exchange Commission (SEC) and the Ghana Stock Exchange (GSE).

The insurer, which was initially expected to file its results by the regulatory deadline, now has until April 30, 2025, to complete and submit its audited accounts.

The GSE did not provide specific reasons for the delay, though late financial reporting is typically linked to incomplete audits, complex accounting issues, ongoing legal investigations, significant changes in business operations, data system issues, internal control deficiencies, auditor disagreements, or a lack of preparedness by the company’s finance team.

Market participants will be watching closely for the company’s disclosure, as any further delay beyond the extension period could heighten concerns over SIC Insurance’s financial health and governance framework.

SEC and GSE have increasingly scrutinized the timeliness of financial reporting, given its importance for market transparency and investor confidence.

The extension signals the company’s ongoing engagement with regulators to finalize its accounts, but investors will be looking for assurances that the delay does not indicate deeper operational or financial issues.