Former SIC MD Hollistar Duah-Yentumi drops lawsuit over dismissal

The immediate past Managing Director of SIC Insurance Company Limited, Hollistar Duah-Yentumi, has withdrawn her court case challenging her dismissal by President John Mahama.

According to JoyBusiness, her decision follows a high-level meeting on February 6, 2025, between the key parties involved in the dispute. Sources indicate that an agreement has been reached to resolve the matter out of court.

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As part of this resolution, Duah-Yentumi has also dropped her lawsuit against the appointment of James Agyenim-Boateng as the new Managing Director of SIC Insurance.

The former MD initially sought legal action on February 4, arguing that her contract was valid until January 1, 2028, and could only be terminated by the company’s Board of Directors or through a shareholder resolution at an Annual General Meeting.

She also cited unfair termination and a disregard for corporate governance structures.