Guinea Insurance Plc has expressed its readiness to strengthen its capital base in preparation for the ongoing insurance industry recapitalisation exercise, in line with emerging regulatory requirements.
The assurance was given by the company’s board and executive management during a strategic courtesy visit to the National Insurance Commission (NAICOM) in Abuja.
The delegation, led by the Chairman of the Board of Directors, Mr Temitope Borishade, was received by the Commissioner for Insurance and Chief Executive Officer of NAICOM, Mr Olusegun Ayo Omosehin, alongside members of the commission’s management team. Other board and management members of Guinea Insurance were also present at the engagement.
Discussions during the visit focused on regulatory developments, industry trends and Guinea Insurance’s ongoing initiatives aimed at strengthening operational capacity and enhancing customer experience across its service channels.
The company also reaffirmed its preparedness to solidify its capital base ahead of the requirements of the Nigerian Insurance Industry Reform Act (NIIRA) 2025. According to the company, the planned capital strengthening is expected to improve its ability to pursue emerging business opportunities and deliver sustainable long-term value to stakeholders.
Speaking during the engagement, Mr Borishade said the visit was in line with Guinea Insurance’s commitment to deepening collaboration with the regulator, promoting transparency, ensuring full compliance and sustaining growth. He added that the company’s recapitalisation readiness positions it to better serve customers, shareholders and business partners.
Guinea Insurance noted that the visit underscores its resolve to contribute to higher industry standards, strengthen stakeholder confidence and build a more resilient and competitive organisation within Nigeria’s insurance sector, driven by innovation and trust.
