December 18, (THEWILL) — Guinea Insurance Plc has announced plans to raise ₦15 billion in equity capital as part of efforts to comply with the recapitalisation requirements set by the National Insurance Commission (NAICOM).
The proposed capital raise is aimed at strengthening the company’s financial position, enhancing underwriting capacity, and ensuring full regulatory compliance in line with NAICOM’s directive for insurance operators to maintain adequate capital buffers.
According to the company, the fresh equity injection will support its long-term growth strategy, improve risk retention capability, and reinforce confidence among policyholders, investors, and other stakeholders.
NAICOM had introduced the recapitalisation policy to promote stability, resilience, and sustainability within Nigeria’s insurance industry, ensuring that operators are better positioned to meet claims obligations and support economic growth.
Guinea Insurance stated that the capital raise will be executed in accordance with applicable regulatory approvals and market conditions.
The company also reaffirmed its commitment to sound corporate governance, improved service delivery, and value creation for shareholders.
Industry analysts believe the move will place Guinea Insurance on a stronger footing, enabling it to compete more effectively within the increasingly capital-driven insurance landscape.
Ogochukwu Onwaeze
