BY NKECHI NAECHE-ESEZOBOR—Guinea Insurance Plc has taken a major step toward solidifying its market position after successfully executing a ₦12.6 billion capital raise, putting it well on track to meet NAICOM’s recapitalisation requirements.
In an official statement, Company Secretary Chinenye Nwankwo confirmed that both the Rights Issue and Private Placement achieved full regulatory compliance and earned the complete approval of the Securities and Exchange Commission (SEC).
Through these capital raising initiatives, the Company successfully raised a total sum of approximately ₦12.6 billion.
When aggregated with the Company’s existing paid-up capital, this positions the Company above the ₦15 billion minimum capital requirement prescribed for non-life insurance companies under the ongoing industry recapitalisation framework, subject to final regulatory capital verification.
“This milestone represents a significant step forward in the Company’s recapitalisation journey and underscores its commitment to strengthening its financial position, enhancing underwriting capacity, and delivering long-term value to stakeholders.
“The Company wishes to express its sincere appreciation to its shareholders, investors, regulators, and professional advisers for their continued support and confidence throughout the capital raising process.
“The results of the allotment in respect of both the Rights Issue and the Private Placement will be published in the national dailies on or before 6th August 2026, in line with regulatory requirements
“ Guinea Insurance Plc remains committed to completing the recapitalisation process and will continue to keep stakeholders informed of further developments, including the outcome of the capital verification exercise.”
