The immediate past Managing Director of SIC Insurance Company Limited, Hollistar Duah-Yentumi, has withdrawn her court application challenging the termination of her appointment by President John Mahama.
Media reports indicate that her decision follows a high-level meeting on February 6, 2025, involving key stakeholders in the dispute.
Sources suggest that an agreement has been reached to resolve the matter out of court. As part of the resolution, Madam Duah-Yentumi has also withdrawn her lawsuit contesting the appointment of James Agyenim-Boateng as the new Managing Director of SIC Insurance.
The former MD had initially taken legal action against the company and its newly appointed Acting MD, citing unfair termination and a disregard for corporate governance structures.
In her suit, filed on February 4, she argued that her contract was secured for a four-year term, set to expire on January 1, 2028. She maintained that any alteration to her tenure required approval from the company’s Board of Directors or a shareholder resolution at an Annual General Meeting.
With the case now withdrawn, both parties are expected to finalise their settlement terms privately.
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