Guinea Insurance Assures Stakeholders on Financial Health


Ebere Nwoji

Guinea Insurance Plc, has said that it is financially hale and hearty to discharge its responsibilities of consolidating and strategically growing market share through decisive long-term investments and customer engagement initiatives.

The company, in a statement, said in spite of the daunting challenges in the operating environment, it has remained focused and true to its ideals of becoming an insurer of first choice.

“We will determinedly build capacity, explore opportunities within the industry and strategically set our internal processes on the path of returning to profitability “, said the company’s spokesman Mr Ufot Hanson.

He further reassured stakeholders of the company that the newly appointed crop of eminent Nigerians and professionals as members of the Board of Directors have set a growth agenda which is aimed at positioning the insurance company on a higher pedestal that will further propel confidence, equitable service delivery and offer gratifying returns on investments to all stakeholders.

“They are working heart and soul to see it through and through”, he said.
He said Guinea Insurance Plc is set to host its 58th annual general meeting (AGM) following the approval of its Annual Financial Reports and Accounts for year 2015 by the industry regulator, the National Insurance Commission( NAICOM).

According to him, the approval is contained in a letter from NAICOM dated December 19, 2016.
The development is coming on the heels of widespread speculations that the company may not have been in its best state of financial health.

Guinea Insurance’s foundation dates back to the year 1948. It was managed from abroad until 1976 and became a fully independent Nigerian company in 1988. It operates as an insurer for all classes of insurances including companies and consumers as customers.

Guinea Insurance provides a variety of general insurance products and services, such as professional indemnity, accident as health and travel, goods-in-transit, personal/group accident, motor, fire and special perils insurances. Furthermore, it provides special insurances such as oil and energy risk, bonds and guarantees, marine cargo and reinsurance.

Since 2007 Guinea Insurance has undertaken major changes in its structure and focus. The company now focuses more on its customer needs and understood as one of the first in the industry to make use of technology to provide the best service possible.