Home > Salary > Ghana > Insurance Underwriter
An insurance underwriter is responsible for assessing and evaluating insurance applications to determine the level of risk involved and the appropriate premium to be charged. They analyze various factors such as the applicant's health, age, occupation, and lifestyle to calculate the likelihood of a claim being made. Underwriters use statistical models and actuarial data to make informed decisions and ensure that the insurance company remains profitable. They also review policy renewals, negotiate terms with brokers, and provide guidance on risk management strategies.
Estimated Yearly Salary: 49,585 GHS
Estimated Monthly Salary: 4,132 GHS
Estimated Weekly Salary: 954 GHS per week
Estimated Hourly Salary: 24 GHS per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 4,006 GHS
Estimated Weekly Salary: 924 GHS per week
Estimated Hourly Salary: 23 GHS per hour
Last revision of data: 2024-01-09
Estimated Yearly Salary: 4,149 USD
Estimated Monthly Salary: 346 USD
Estimated Weekly Salary: 80 USD per week
Estimated Hourly Salary: 2 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 49,585 GHS
Estimated Monthly Salary: 4,132 GHS
Estimated Weekly Salary: 954 GHS per week
Estimated Hourly Salary: 24 GHS per hour
By working as Insurance Underwriter a person can save up to 206 USD per month or 2,469 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Ghana, see costs of living in Ghana.
Estimated Yearly Salary for Insurance Underwriter
Last revision of data: 2025-01-04
Data as of 2025
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Insurance Underwriter salary in Ghana
Average Yearly Salary of Insurance Underwriter in Ghana is approximately 49,585 GHS (4,149 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Insurance Underwriter do?
An insurance underwriter is responsible for assessing and evaluating insurance applications to determine the level of risk involved and the appropriate premium to be charged. They analyze various factors such as the applicant's health, age, occupation, and lifestyle to calculate the likelihood of a claim being made. Underwriters use statistical models and actuarial data to make informed decisions and ensure that the insurance company remains profitable. They also review policy renewals, negotiate terms with brokers, and provide guidance on risk management strategies.
Skills: Insurance underwriter, Risk assessment, Premium calculation, Actuarial analysis, Policy renewal, Risk management.
Job industry: Insurance
Job industry: Insurance
How much does Insurance Underwriter make?
Salary details
How much does Insurance Underwriter make?Estimated Yearly Salary: 49,585 GHS
Estimated Monthly Salary: 4,132 GHS
Estimated Weekly Salary: 954 GHS per week
Estimated Hourly Salary: 24 GHS per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 48,072 GHSEstimated Monthly Salary: 4,006 GHS
Estimated Weekly Salary: 924 GHS per week
Estimated Hourly Salary: 23 GHS per hour
Last revision of data: 2024-01-09Insurance Underwriter estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 4,149 USD
Estimated Monthly Salary: 346 USD
Estimated Weekly Salary: 80 USD per week
Estimated Hourly Salary: 2 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Country:
Salary comparison to National average
Ghana is a country located in West Africa. It has a population of approximately 31 million people and covers an area of about 238,535 square kilometers. The country is bordered by Cote d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Atlantic Ocean to the south.
Estimated national average yearly salary is 39,200 GHS (3,500 USD). Value indicated is pre-tax. Below graph shows estimated Insurance Underwriter job salary compared to average salary in Ghana.
Comparison shows that a person working as Insurance Underwriter in Ghana earns on average:
1.26 times the average salary (or 126% of average salary).
Estimated national average yearly salary is 39,200 GHS (3,500 USD). Value indicated is pre-tax. Below graph shows estimated Insurance Underwriter job salary compared to average salary in Ghana.
Comparison shows that a person working as Insurance Underwriter in Ghana earns on average:
1.26 times the average salary (or 126% of average salary).
Is Insurance Underwriter a well paid job?
Yes, our data shows that Insurance Underwriter is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.What is considered a high salary for Insurance Underwriter?
High salary for Insurance Underwriter would be somewhere between 54,544 GHS and 71,898 GHS. However this is an estimation based on Gaussian Distribution.How much can you save working as Insurance Underwriter in Ghana?
Living in Ghana the approximate monthly expenses are: 140 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 49,585 GHS
Estimated Monthly Salary: 4,132 GHS
Estimated Weekly Salary: 954 GHS per week
Estimated Hourly Salary: 24 GHS per hour
By working as Insurance Underwriter a person can save up to 206 USD per month or 2,469 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Ghana, see costs of living in Ghana.
Salary comparison to region and neighbouring coutries
Country's neighbours are: Burkina Faso, Cote d'Ivoire (Ivory Coast), Togo.. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Insurance Underwriter
Last revision of data: 2025-01-04Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
+12% salary increase- 6 to 10 years of experience yields
+25% salary increase- 11 to 15 years of experience yields
+16% salary increase- 16 to 25 years of experience yields
+9% salary increase- more than 25 years of experience yields
+10% salary increaseTop 10 highest salaries in Ghana
(439,471 GHS per year, pre-tax.)
2. Cardiologist
(363,775 GHS per year, pre-tax.)
(351,690 GHS per year, pre-tax.)
(342,308 GHS per year, pre-tax.)
5. Neurosurgeon
(342,198 GHS per year, pre-tax.)
(334,060 GHS per year, pre-tax.)
7. Urologist
(333,287 GHS per year, pre-tax.)
(333,209 GHS per year, pre-tax.)
(333,002 GHS per year, pre-tax.)
10. Oncologist
(332,700 GHS per year, pre-tax.)
Data as of 2025Random salary:
Tour driver (22,860 GHS per year, pre-tax.)
Flight attendant (46,431 GHS per year, pre-tax.)
Gis business analyst (42,950 GHS per year, pre-tax.)
Marketing assistant (27,404 GHS per year, pre-tax.)
Food checker (17,248 GHS per year, pre-tax.)
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