MON JUNE 08 2026-theGBJournal| Guinea Insurance Plc Monday, announced it has completed the payment of its statutory deposit requirement under the Nigerian Insurance Industry Reform Act (NIIRA) 2025, marking a key milestone in its ongoing recapitalisation efforts.
The insurer disclosed in a statement on NGX Exchange, that it has remitted the required statutory deposit to the Central Bank of Nigeria, bringing its total statutory deposit balance to N1.5 billion.
The amount represents 10% of the minimum capital threshold prescribed for non-life insurance companies under the new regulatory framework.
The development positions Guinea Insurance among the operators that have taken steps to align with the capital and solvency requirements introduced under NIIRA 2025, as regulators seek to strengthen the financial resilience of Nigeria’s insurance industry.
The company said the compliance demonstrates its commitment to meeting all regulatory obligations within the stipulated timelines and supports its broader strategy to enhance financial capacity and drive long-term growth.
Guinea Insurance added that it remains focused on achieving its recapitalisation objectives while delivering value to shareholders, policyholders, brokers, customers and other stakeholders.
The insurer thanked investors and business partners for their continued support, expressing confidence in its ability to leverage its strengthened capital position to pursue future growth opportunities in Nigeria’s insurance market.
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