The board of Guinea Insurance Plc, on Monday said it successfully raked ₦12.6 billion from its recently concluded hybrid offer, comprising a Rights Issue and a Private Placement in compliance with the requirements of the National Insurance Commission (NAICOM).
Both transactions executed in line with regulatory guidelines, and with all requisite approvals duly obtained from the Securities and Exchange Commission (SEC), the company said in a “stakeholder update on recapitalitsation.”
When aggregated with the Company’s existing paid-up capital, according to a statement via the Nigerian Exchange Limited portal, by Chinenye Nwankwo, the Company Secretary takes the company beyond the ₦15 billion minimum capital requirement prescribed for non-life insurance companies under the ongoing industry recapitalisation framework, subject to final regulatory capital verification.
Investdata News findings show that when combined with the previous paid up capital of ₦3.97 billion as of its Q1 2026 financial records, Guinea Insurance now has a total of ₦16.57 billion.
This milestone, the statement added, 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.”
Guinea Insurance expressed appreciation to shareholders- investors, regulators, and professional advisers for their continued support and confidence throughout the capital raising process.
It promised to publish results of the allotment in respect of both the Rights Issue and the Private Placement on or before August 6, 2026, in line with regulatory requirements.
