Guinea Insurance Plc plans to raise ₦15 billion to strengthen its financial foundation and drive growth.
On December 17, 2025, shareholders authorised the Board to raise capital through Rights Issue and Private Placement.
Responding To Regulatory Changes
This decision responds directly to NAICOM’s recent fivefold increase in minimum capital requirements for insurance companies.
Consequently, non-life insurers must raise capital from ₦3 billion to ₦15 billion under the new rules.
Similarly, life insurers must increase capital from ₦2 billion to ₦10 billion, while reinsurers need to reach ₦35 billion.
Guinea Insurance Strengthening Investor Confidence
Accordingly, shareholders approved raising the company’s minimum issued share capital from ₦4 billion to ₦19 billion.
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This action creates 30 billion additional ordinary shares of 50 kobo each for the company.
Furthermore, the Board can issue 5.29 billion shares via Rights Issue and 6.32 billion shares through private placement.
All new shares will rank equally with existing shares, ensuring fairness and equal shareholder rights.
Company Secretary Chinenye Nwankwo emphasised that the Board will finalise pricing, allotment, and timetable in the company’s best interest.
Additionally, the Board will appoint professional advisers to guarantee regulatory compliance and oversee the capital-raising process efficiently.
This capital boost will strengthen Guinea Insurance’s financial base and support its strategic growth objectives.
Moreover, the company updated its Memorandum and Articles of Association to reflect the new share capital structure.
NAICOM CEO Olusegun Omosehin praised the insurance sector’s recapitalisation efforts as “encouraging.”
Meanwhile, eighteen insurers have already confirmed their readiness for capital verification under the ongoing regulatory framework.
By taking these steps, Guinea Insurance positions itself to meet regulatory requirements while emerging stronger and more competitive.
Overall, this move reassures investors and demonstrates the company’s commitment to growth and sector stability.
