Guinea Insurance Plc has secured the approval of its shareholders to proceed with a recapitalisation exercise aimed at strengthening the company’s financial base and positioning it for future growth.
The endorsement came during the firm’s Annual General Meeting (AGM), where shareholders unanimously backed the management’s proposal to meet regulatory capital requirements and enhance competitiveness within Nigeria’s insurance industry.
According to the board, the recapitalisation drive will provide Guinea Insurance with the capacity to underwrite bigger risks, expand its product offerings, and deliver greater value to investors and policyholders.
The management further assured stakeholders that the process would be transparent and structured to align with the company’s long-term growth strategy while ensuring compliance with the National Insurance Commission (NAICOM)’s guidelines.
Industry analysts believe the move is a timely step that will enable the insurer to reposition itself as a stronger player in Nigeria’s evolving financial services sector.
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