Guinea Insurance Plc Completes ₦12.6bn Hybrid Capital Raise
Guinea Insurance Plc filed a stakeholder update on 31 July 2026 disclosing the successful conclusion of a hybrid offer comprising a Rights Issue and a Private Placement. The filing states the company raised approximately ₦12.6 billion, which when combined with existing paid-up capital, positions it above NAICOM's ₦15 billion minimum capital requirement for non-life insurers.
Guinea Insurance Plc has disclosed the completion of a hybrid capital raising exercise consisting of a Rights Issue and a Private Placement, both executed under approvals obtained from the Securities and Exchange Commission (SEC).
According to the filing dated 31 July 2026, the two transactions together generated approximately ₦12.6 billion. The company states that when this amount is aggregated with its existing paid-up capital, its total capital base exceeds the ₦15 billion minimum threshold prescribed by the National Insurance Commission (NAICOM) for non-life insurance companies under the current industry recapitalisation framework. The company noted this is subject to final regulatory capital verification by NAICOM.
The filing further states that allotment results for both the Rights Issue and the Private Placement will be published in national dailies on or before 6 August 2026, in accordance with regulatory requirements. Guinea Insurance Plc indicated it will continue to update stakeholders on further developments, including the outcome of the capital verification exercise. The company is authorised and regulated by NAICOM under Registration Number 017, and its registered office is at Guinea Insurance House, 33 Ikorodu Road, Jibowu, Lagos.
