WorldStage– Guinea Insurance Plc has successfully completed its recapitalisation programme, strengthening its capital base in line with the minimum capital requirements for non-life insurance companies under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
In a statement signed by Managing Director/CEO, Ademola Abidogun, the company announced that it successfully concluded its Rights Issue and Private Placement. Guinea Insurance’s name has also been published by the National Insurance Commission (NAICOM) among the insurance companies that have met the applicable recapitalisation requirement.
“This achievement represents a significant milestone for the Company and reinforces its financial capacity, regulatory standing and ability to pursue sustainable growth opportunities within Nigeria’s evolving insurance market,” the statement said.
With the exercise completed, Guinea Insurance said it is fully capitalised and ready to underwrite business with renewed capacity and confidence.
The company remains fully operational and continues to provide insurance solutions to customers while meeting its valid claims, policy and contractual obligations in the ordinary course of business.
Brokers, corporate clients, policyholders and prospective customers can continue to engage the company through its existing channels.
Management expressed appreciation for the support of shareholders, customers, brokers, business partners, employees and other stakeholders throughout the recapitalisation process.“Guinea Insurance Plc is ready for business and committed to delivering greater value, stronger insurance capacity and sustainable growth,” the statement concluded.
