BY NKECHI NAECHE-ESEZOBOR—Emerging from National Insurance Commission, (NAICOM), sector-wide recapitalisation drive with a capital base exceeding ₦15 billion, Guinea Insurance Plc on Friday said its positioning itself for a major market transformation.
With NAICOM verification now completed, the non-life insurer plans to deploy its strengthened capital position toward underwriting larger corporate risks, expanding digital infrastructure, and competing more aggressively for market leadership within Nigeria’s financial ecosystem.
A statement released by the insurer noted that, recapitalisation is not the destination. It is the platform for growth.
The statement further said is now focused on converting its enhanced capital position into greater underwriting capacity, stronger customer propositions, improved service delivery, strategic partnerships and sustainable market growth.
Commenting on the development, the Managing Director/Chief Executive Officer, Mr. Ademola Abidogun, said:
“Recapitalisation has given Guinea Insurance the strength to think bigger, compete harder and pursue opportunities with greater confidence. We have strengthened our capital; now we are focused on strengthening our position in the market.”
“Nigeria is a market of enormous opportunities, and Guinea Insurance intends to be at the forefront of capturing those opportunities. Whether it is supporting major corporates, SMEs, institutions or individuals, we are ready to provide the capacity, expertise and confidence that businesses need to grow.”
The completion of the recapitalisation also reinforces Guinea Insurance’s ambition to become a more competitive, innovative and customer-focused insurer, with increased capacity to participate in larger risks, develop relevant insurance solutions and deepen its relationships across the insurance…
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