Former SIC MD demands enticing payout in salary and perks after contract termination

The immediate past Managing Director of SIC Insurance Company Limited, Ms. Hollistar Duah-Yentumi, has filed a lawsuit against the company and its newly appointed MD, Mr. James Agyenim-Boateng, challenging what she describes as the unlawful termination of her contract.

Ms. Duah-Yentumi, who was replaced following a presidential appointment on January 27, argues that her tenure was contractually set for four years, expiring on January 1, 2028.

According to her suit, the termination of her employment did not follow due process, as it should have been decided by the company’s Board of Directors or all shareholders at an Annual General Meeting.

In addition to seeking a declaration that her dismissal was unlawful, Ms. Duah-Yentumi is demanding full payment of her salary and benefits for the unexpired term of her contract. These benefits, as outlined in her lawsuit, include:

A monthly salary of GHS 40,000

Payment of Social Security and National Insurance Trust (SSNIT) and provident fund contributions

Official accommodation or an equivalent allowance of GHS 15,000 per month

A 10% annual basic salary increase

Membership fees for professional and social clubs

Health insurance coverage for her and her family

Provision of an official vehicle and fuel allowance of 450 litres per month

Severance benefits, including six months’ salary for every year of service if terminated before contract expiration
Ms. Duah-Yentumi insists that her employment contract is legally binding and seeks a court order to enforce its terms. The case is now before the High Court, where the legal battle over SIC Insurance’s leadership transition continues.

Read her full suit below: