Guinea Insurance PLC’s story began in 1948, as a subsidiary of the British Empire West Africa Corporation (BEWAC), created to safeguard trading operations across West Africa. What started as a supporting arm for commerce soon evolved into a resilient and forward-looking institution, laying the groundwork for decades of leadership in Nigeria’s insurance sector.
A decade later, in 1958, Guinea Insurance made a transformative leap. A strategic partnership with Legal & General Assurance Society, Norwich Union Fire Insurance Society, Northern Region Development Corporation, and BEWAC culminated in its formal incorporation as Guinea Insurance Company Limited. Officially commencing operations on 3 December 1958, the company transitioned from a division into a fully-fledged public limited liability entity, expanding into both general and life insurance and cementing its position in the market.
True to the spirit of the 1976 Indigenisation Decree, Guinea Insurance moved from foreign to full Nigerian ownership by 1998, aligning its governance with national economic interests. The company has consistently met regulatory reforms, including NAICOM’s recapitalisation directives in 2007 and 2020, maintaining a strong paid-up share capital of ₦4 billion—a testament to financial prudence and stability.
Today, Guinea Insurance PLC is reimagining its future. Under the stewardship of Board Chairman Mr. Temitope Borishade and the strategic backing of Chrome Group, the company is undergoing a transformation to meet modern market realities. Supported by cutting-edge technology and a team of skilled professionals, Guinea Insurance is delivering customer-centric and innovation-driven solutions, redefining how Nigerians experience insurance. Every milestone tells a story of progress, innovation, and service excellence.
Guinea Insurance PLC continues to honour its rich heritage while standing as a symbol of enduring presence and aspiration in Nigeria’s financial services industry.
With a track record built on trust, professionalism, and strategic foresight, Guinea Insurance is poised to lead the sector into a future defined by growth, inclusivity, and customer-first solutions. We are building the future on a foundation of trust; this is the Guinea Insurance way.
