Guinea Insurance Assures Regulator Of Plans To Recapitalise

The board and management of Guinea Insurance Plc recently paid a strategic courtesy visit to the National Insurance Commission (NAICOM), where they were received by the commissioner for Insurance and chief executive officer of the National Insurance Commission (NAICOM), Olusegun Ayo Omosehin even as they assured the regulator it will recapitalise.

Discussions during the visit explored regulatory developments, industry trends and the company’s ongoing initiatives to strengthen operational capacity and improve customer experience across all touchpoints. The delegation also highlighted Guinea Insurance’s readiness to solidify its capital base ahead of the National Insurance Industry Restructuring and Recapitalisation (NIIRA) requirements, an important strategic action that enhances the company’s ability to seize emerging business opportunities and deliver stronger, long-term value to its stakeholders.

Speaking during the engagement, the chairman, Guinea Insurance Plc, Temitope Borishade, noted that, the visit aligns with Guinea Insurance’s commitment to deepen collaboration with the regulator, enhance transparency, ensure compliance, and sustain growth. He emphasised that, the company’s preparedness and capital strengthening efforts position it to serve its customers, shareholders, and partners with even greater effectiveness.

This courtesy visit underscores Guinea Insurance’s dedication to raising industry standards, strengthening stakeholder confidence, and building a more resilient and competitive organisation in the Nigerian insurance landscape.

The Guinea Insurance delegation was led by Temitope Borishade, chairman of the Board of Directors, accompanied by Bernice Izilen Okosun, non-executive director; Ijeoma Pearl Okoro, non-executive director; Nkemakonam Chukwukaodinaka Okeke, non-executive director; Samuel Onukwue, mon-executive director.

The management team present included Ademola Abidogun, managing director and chief executive officer; Pius Edobor, executive director, Finance and Corporate Services; Ogonna Offor-Orabueze, executive director, Technical; and Chinenye Nnankwo, company secretary.