Guinea Insurance Plc has intensified efforts toward meeting the requirements of the Nigerian Insurance Industry Recapitalization (NIIRA) framework, as its Board and Executive Management paid a strategic visit to the National Insurance Commission (NAICOM) to discuss plans for the smooth execution of its recapitalisation programme.
During the visit, the company reaffirmed its commitment to strengthening its capital base in line with NIIRA expectations—an action it says will enhance its competitiveness, unlock new business opportunities, and deliver sustainable value to stakeholders. The delegation was received in Abuja by the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr. Olusegun Ayo Omosehin, alongside members of the Commission’s leadership team.
The Guinea Insurance team was led by the Chairman of the Board, Mr. Temitope Borishade, accompanied by Non-Executive Directors Mrs. Bernice Izilen Okosun, Mrs. Ijeoma Pearl Okoro, Dr. Nkemakonam Chukwukaodinaka Okeke, and Mr. Samuel Onukwue. Executive Management members present included the Managing Director/CEO, Mr. Ademola Abidogun; Executive Director, Finance and Corporate Services, Mr. Pius Edobor; Executive Director, Technical, Mrs. Ogonna Offor-Orabueze; and the Company Secretary, Mrs. Chinenye Nnankwo.
Discussions with the regulator covered industry developments, compliance expectations, operational enhancement initiatives, and measures aimed at improving customer experience across all service channels. The company also outlined its broader strategy for strengthening capacity and preparing for future growth.
Speaking at the meeting, Mr. Borishade stated that the engagement reflects the organisation’s commitment to deepening collaboration with NAICOM, enhancing transparency, and ensuring full compliance as it progresses with its recapitalisation roadmap. He noted that the company’s ongoing capital-strengthening efforts will further position it to deliver improved service to customers and sustainable value to shareholders and partners.
The visit reinforces Guinea Insurance’s resolve to build a more resilient and competitive institution, while contributing to higher industry standards and bolstering stakeholder confidence within the Nigerian insurance sector.
