The Chartered Insurance Institute of Ghana (CIIG) formerly known as Insurance Institute of Ghana (IIG) was established in 1970 as the pioneer professional insurance body to unify and provide common platform for insurance professionals in Ghana. The Institute was formally inaugurated on October 06, 1972 by the late former Head of State, Col. I. K. Acheampong. There were eighty-six (86) members of Institute in 1972 with Mr. Osei Kufuor as the President.

On January 28, 1982 the Chartered Insurance Institute of Ghana was registered as a professional body under the Professional Bodies Registration Decree, 1973 (NRCD 143). The Institute built international recognition as an affiliate of the Chartered Insurance Institute of London (CII-UK) which maintained an examination Secretariat in Accra-Ghana at the time of the inauguration.

The founding objectives of the Institute at the time of the inauguration were among others to secure the maintenance of professional standards, discipline and etiquette among persons who are members of the Institute and to also localize the insurance professional examinations to make them more relevant to the needs of the local insurance market and be more meaningful and interesting to students.