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Guinea Insurance Plc (Nigeria)

Main Activities: Direct Health and Medical Insurance Carriers | Direct Property and Casualty Insurance Carriers | Direct Title Insurance Carriers
Full name: Guinea Insurance Plc Profile Updated: March 13, 2024
Buy our report for this company USD 29.95 Most recent financial data: 2022 Available in: English Download a sample report

Guinea Insurance Plc. is a composite insurance company, licensed by the National Insurance Commission [NAICOM] to operate as an insurer for all aspects of the Insurance business in Nigeria i.e. Life & Pension, general business and special risks. The share capital has been increased to N500m with paid up of N360m. The overseas shareholders held 51% majority shares before the indigenization decree of 1976, reversed the holding to 60% Nigerian interest, 40% overseas. The overseas shareholders divested their 40% holding to existing nigerian shareholders in 1988 thereby making the company 100% nigerian. The company is one of the most highly capitalized companies in the nigerian insurance industry.

Headquarters
Guinea Insurance House, 33, Ikorodu Road, Jibowu
Lagos; Lagos;

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Website: http://www.guineainsurance.com

Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
1958
Key Executives
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Chairman
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Director / Member of the Management Board
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Director / Member of the Management Board
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Director / Member of the Management Board
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Director / Member of the Management Board
Ownership Details
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46%
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21%
Company Performance
Financial values in the chart are available after Guinea Insurance Plc report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency NGN. Absolute financial data is included in the purchased report.
Net insurance premium revenue
105.42%
Operating profit (EBIT)
63.16%
Net Profit (Loss) for the Period
N/A
Total assets
6.07%
Investments
-42.74%
Receivables
0.13%
Total equity
45.19%
Net Premiums Earned Trend
97.68%
Net Profit Trend
2174.89%
Return on Equity (ROE)
N/A
Loss Ratio
2.11%
Underwriting Expenses Ratio
-28.84%

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