Guinea Insurance has projected a gross premium written (GPW) of N1.75 billion for the first quarter of 2025, according to its forecast filed with the Nigerian Exchange Limited. The company anticipates a net underwriting income of N1.32 billion and claims expenses of N180.69 million, ultimately expecting to achieve a profit after tax of N526.73 million. The forecast also includes commission receivables of N112.88 million against commission payments of N262.50 million, as the company seeks to bolster its performance following losses reported in previous quarters.
At its recent Annual General Meeting, Managing Director Mr. Ademola Abidogun outlined plans for recapitalization, operational efficiency, and product expansion under the #ComfortAssured Integrated Marketing Campaign. These initiatives aim to strengthen the company’s market position, improve customer experience, and focus on core insurance activities, particularly underwriting. Despite earlier challenges, the leadership remains committed to returning the company to profitability.
Chairman Mr. Ugochukwu Godson, SAN, praised the board and management’s efforts to realign the company’s strategy, highlighting Guinea Insurance’s potential as a compelling investment opportunity. The leadership’s renewed focus on financial stability and growth seeks to reposition the brand as a competitive player in the Nigerian insurance market.