Guinea Insurance launches N5.8bn rights issue to boost capital base, expand market reach

GUINEA Insurance Plc has taken a major step to strengthen its financial position and drive future growth, following the official signing ceremony for its N5.8 billion rights issue held on March 16, 2026, in Lagos.

The capital raise involves the issuance of 5.3 billion ordinary shares of 50 kobo each at N1.10 per share, offered on the basis of two new shares for every three existing shares held. The move is aimed at reinforcing the company’s balance sheet while positioning it to take advantage of opportunities in Nigeria’s evolving insurance market.

Speaking at the ceremony, Chairman of the Board, Mr Temitope Borishade, described the rights issue as a critical milestone in the company’s long-term strategy. He noted that the exercise would enable Guinea Insurance to scale up operations, deepen innovation, and enhance value delivery to shareholders.

According to him, the capital raise underscores the company’s commitment to repositioning its business in line with market realities, while also improving service delivery to customers and brokers. He added that shareholders should expect improved returns as the company executes its growth plans.

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Also speaking, Managing Director of Guinea Insurance, Mr Ademola Abidogun, said the rights issue goes beyond regulatory compliance, stressing that it is designed to build a stronger and more competitive institution.

He explained that the additional capital would enhance the company’s financial stability and regulatory standing, while increasing its underwriting capacity across key sectors of the Nigerian economy. The funds are also expected to support investments in technology, improve operational efficiency, and drive expansion into the largely untapped retail and SME insurance segments.

Abidogun noted that the move would position Guinea Insurance to play a more active role in advancing financial inclusion through wider insurance penetration.

In his remarks, the Group Managing Director of Anchoria Advisory Services Limited, Mr Sam Chidoka, who represented the lead issuing house, commended the company’s growth trajectory since inception. He urged existing shareholders to take up their rights when the offer opens and encouraged other investors to participate through traded rights.

The company reiterated its commitment to building a stronger, more resilient business capable of delivering sustainable value to stakeholders, while expanding its footprint in Nigeria’s insurance industry.

Guinea Insurance Plc is regulated by the National Insurance Commission (NAICOM) and operates from its corporate head office in Lagos.