Guinea Insurance Plc shareholders have authorised the board to raise up to N15 billion in additional equity capital. The funds will ensure compliance with new regulatory requirements and bolster the company’s financial position.
Okay News reports that the decision came during a virtual Extraordinary General Meeting on December 17, 2025. All proposed resolutions received approval from attendees.
The capital injection combines rights issues and private placements. Directors will set terms, pricing, and timelines in the company’s best interest.
“In order to comply with statutory capital requirements, strengthen the Company’s financial base, and support its strategic growth objectives, the Board of Directors be and are hereby authorized to raise additional equity capital of up to N15,000,000,000 by way of Rights Issue and Private Placement,” the resolution stated.
Shareholders increased the minimum issued share capital from N4 billion to N19 billion. This expands ordinary shares from 8 billion to 38 billion at 50 kobo each.
Directors gained authority to issue up to 5.29 billion shares via rights. They may allot unsubscribed portions through private placement after waiving pre-emptive rights.
A special resolution approved issuing up to 6.32 billion shares at N1.45 each privately. New shares will carry equal rights with existing ones.
The board can appoint advisers and complete regulatory steps. Updates to the Memorandum and Articles of Association reflect the new structure.
NAICOM, Nigeria’s insurance regulator, recently raised minimum capital for non-life insurers to N15 billion. The directive aims to enhance risk capacity and claims handling.
Several insurers have signalled readiness for verification. The exercise supports sector stability and growth.
This capital raise positions Guinea Insurance to meet obligations and pursue expansion in Nigeria’s evolving insurance market.
