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SIERRA LEONE INSURANCE COMPANY LIMITED HEAD OFFICE: SLICO HOUSE, 68 SANDERS STREET, FREETOWN, TELEPHONE NO.: +232 76 611010/+232 99 684145 EMAIL ADDRESS: komrabai25@gmail.com OUTLETS : LUMLEY, PADEMBA ROAD, KISSY ROAD, KISSY, WATERLOO & BO.

INTRODUCTION OF THE SIERRA LEONE INSURANCE COMPANY LIMITED (SLICO) We wish to introduce our company, The Sierra Leone Insurance Company Limited (SLICO) to your organisation. The Company was incorporated by the National Development Bank Limited in February 1987 to take over the assets and liabilities of the Sierra Leone Branch of American Life Insurance Company (ALICO) which operated in the country for over twenty years. The Shareholders comprise of the National Development Bank and Private Individuals. The Company provides various classes of life and property insurance cover for business institutions and individuals with the support of competent, experienced and trustworthy staff. The Company’s operations are fully computerized to handle large portfolios of both life and non-life business ..

SLICO has excellent reinsurance facilities provided by WAICA Re which is based in Sierra Leone and various overseas Reinsurance institutions with Ghana Reinsurance Company Limited (GHANARE) taking the lead. GHANARE which was established in 1972 as Ghana Reinsurance Organization was incorporated as a Limited Liability Company on June 16, 1995. Ghanare is rated by Global Credit Rating Company (Local Business AA, International Business BB+) and A.M. Best (Financial Strength B, issuer Credit bb). Ghana Re has regional offices in Cameroun- Ghana Reinsurance Cameroun PLC and Kenya – Ghana Re Kenya Regional Office . It is worth noting that SLICO has been dealing in life assurance for over thirty (30) years. This in effect means that it is the most experienced Insurance Company in Sierra Leone as far as this type of insurance is concerned. The various Life Assurance covers which we provide for employers and their employees include amongst others; Individual Life, Personal Accident, Group Life and Group Accident. These are tailored to meet the requirements of our clients..

SLICO was incorporated with a vision to provide all types of insurance cover for individuals and businesses with Safe and Assured Protection. The Company’s Mission is to contribute to the growth and development of the insurance industry by offering various insurance products which can be tailor-made to suit the requirements of the insuring public. The affairs of the company are directed by a board which is headed by a Chairman, who has vast experience in the Private Sector (Commerce, Industry and Finance) and the Public Sector (Central Government, Parastatals and Diplomatic Missions). The Company’s Management comprises of Professional Insurance Practitioners with years of experience in the field of Insurance. SLICO’s clients include Zenith Bank (SL) Ltd and various other banks, EDSA, Sierra Rutile Limited, Regimanuel Gray (SL) Ltd., Sierrablock Concrete Products Ltd., HQ Trading Ltd., Sign Africa (SL) Ltd., Agricultural Products Manufacturing Company and Yada Williams and Associates, etc. SLICO is the insurer of the UNITED NATIONS (UN) building in Sierra Leone. The company administers a Group Life Insurance Scheme for employees of Educational Institutions, Parastatals and Companies in addition to about twenty-nine (29) Government Ministries, Departments and Agencies (MDAs)..

We want to take this opportunity to inform you that a new Insurance Act was signed into law in July, 2016 (INSURANCE ACT 2016) and that it has introduced four new compulsory insurances in addition to the already existing compulsory insurances of Marine and Motor Vehicle. The four new additional compulsory insurances are ( i ) Fire Insurance for all Buildings, (ii) Employer’s Liability Insurance for Institutions with five or more employees, (iii) Public Liability Insurance for Buildings under construction that are three storeys and above and (iv) Professional Indemnity Insurance for Medical professionals. Kindly note that we have attached a copy of a brief description of some of the other Insurance Polices we underwrite. To have existed for over two and a half decades as an insurer in Sierra Leone is an important credential for the company in terms of credibility, but nevertheless the company looks ahead ready to take up the challenges of the future. The current SLICO team is propelled with great dynamism and it projects the company with curiosity and passion into the future. Finally, we wish to express our interest to provide Insurance Services to Seli Hydropower and hope that we would be afforded the opportunity to do so in our mutual interest. BE SAFE ASSURED WITH SLICO. Yours Faithfully, GENERAL MANAGER.

GROUP LIFE ASSURANCE In the event of death, the Insurance Company pays a specified amount to the beneficiary/beneficiaries in replacement of lost income due to the death of the assured. The benefit payable under this type of insurance is based on the sum assured which is predetermined by the Assured or his/her employers. The premium which is usually payable monthly is dependent on the sum assured..

This type of insurance provides benefits to the participants in the event of accidental dismemberment and accidental injury and to the participant’s nominated beneficiary in the event of accidental death. The premium which is payable yearly is based on the benefits opted for by the insured. The following are the benefits available under a Group Personal Accident Insurance:.

Accidental Death : - In the event of death of the insured by accidental injury, a death benefit is paid. General occupational and non-occupational accidents are covered. In other words a twenty four hour protection is guaranteed. The premium payable is normally based on the Capital sum Insured which is usually 100% or 200% of the annual of the participant (the actual figure is normally determined by the insured or his/her employer)..

Accidental Dismemberment : - In the event of accidental dismemberment a percentage of benefits under the scale of disablement is paid. The scale of benefits is included as part of the policy document. The sum insured and the premium for the Accidental Death and Accidental Dismemberment Cover are combined under the heading Accidental Death and Dismemberment (AD and D)..

Medical Reimbursement: - This provides for the payment of expenses relating to medical or surgical treatment required when by reason of injury the insured shall require treatment by a qualified physician or surgeon, confinement in a hospital or nursing home or in care of a licensed or graduate nurse. The company will pay the actual expense incurred within 180 days from the date of the accident for such treatment, hospital charges and nurses fees but not exceeding the aggregate. The premium payable in respect of this benefit is a percentage of the capital sum insured..

Weekly Indemnity: - In the event of an accidental injury resulting in the insured temporarily being unable to work, SLICO will pay a weekly benefit as stated In the policy document for a period of up to 52 (fifty two) weeks. This is money to replace all or part of lost income. The premium and the weekly benefit are normally based on the annual salary of the insured participant which is also the capital sum assured..

PROPERTY INSURANCES: Since its incorporation, SLICO has been underwriting property (Non – Life) insurances. The Company provides various Non- Life Insurance Cover with an unlimited capacity supported and backed by Ghana Re and Mainstream Re. A summary of the types of property insurance that SLICO underwrites are as follows:.

Under a Fire Insurance Policy, SLICO can in addition to the fire peril provide you with cover against Wind – Storm, Tornado, Riot, Strike, Malicious Damage, Flood, Impact, Water Damage, Explosion and Aircraft Damage. The risks insured under this policy are classified as either standard or sub-standard depending on the structure and make of the assets..

ACCIDENT: SLICO sells the following Accident Insurance policies: Burglary/Theft (Standard and Sub-Standard risks) Public Liability Cash in Transit Cash in Safe/Strong Room/ Vault Goods in Transit Fidelity Guarantee Consequential Loss Workmen’s Compensation/Employer’s Liability, etc..

MARINE There are two main kinds of insurance cover provided for under Marine Insurance. The Marine Hull and Machinery and the Marine Open Cover. Marine Hull and Machinery This type of cover is against loss or damage to sea vessels. This can include loss or damage due to War, Fire, Storm, etc. depending on the requirements of the insured and based on the policy provisions. Marine Open Cover This type of cover is against loss or damage to goods imported or exported..

MOTOR VEHICLE: SLICO offers different types of Motor Vehicle Insurance as follows: Private Vehicles :- Third Party Third Party Fire & Theft Comprehensive Commercial Vehicle (Own Goods Only) – Third Party Third Party Fire & Theft Comprehensive Commercial Vehicle (General Cartage/ Carriage of Goods for Hire & Reward Excluding Passengers):- Third Party Third Party Fire & Theft Comprehensive Commercial Vehicle (General Cartage/ Carriage Of Goods For Hire & Reward Including Passengers):- Basic Third Party Premium Comprehensive Third Party Fire & Theft..