Guinea Insurance strengthens capital, assures customers of stronger financial position
Guinea Insurance Plc
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Guinea Insurance Plc has announced the successful completion of its hybrid capital raising exercise, comprising a Rights Issue and a Private Placement, as part of its ongoing recapitalisation programme in compliance with the requirements of the National Insurance Commission (NAICOM).
In a stakeholder update signed on July 31, 2026 by the Company Secretary, Chinenye Nwankwo, released on the NGX today, the company said both transactions were executed in line with regulatory guidelines after obtaining all the necessary approvals from the Securities and Exchange Commission (SEC).
According to the company, the capital raising exercise generated approximately ₦12.6 billion, which, when added to its existing paid-up capital, places the insurer above the ₦15 billion minimum capital requirement prescribed for non-life insurance companies under the ongoing insurance industry recapitalisation framework, subject to final regulatory capital verification.
Guinea Insurance described the achievement as a significant milestone in its recapitalisation journey, noting that it underscores the company’s commitment to strengthening its financial position, enhancing its underwriting capacity and delivering long-term value to shareholders and other stakeholders.
The company expressed appreciation to its shareholders, investors, regulators and professional advisers for their continued support and confidence throughout the capital raising process.
It also disclosed that the results of the allotment for both the Rights Issue and the Private Placement would be published in national newspapers on or before August 6, 2026, in line with regulatory requirements.
Guinea Insurance stated that it remains committed to completing the recapitalisation process and will continue to keep stakeholders informed of further developments, including the outcome of the regulatory capital verification exercise.
