Guinea Insurance Plc was incorporated on 3 December 1958 as A Limited Liability Company and became a Public Liability Company on 17 January 1991. The overseas Shareholders divested their 40% shareholding to existing Nigerian shareholders in 1998 thereby making the company 100% owned by Nigerians. The company was established for the purpose of carrying on insurance business. Up till 31 December 2006, the Company operated as an insurer for all classes of insurance business in Nigeria i.e. Life & Pension, General business and Special risks. With effect from 1 January 2007, the Company ceased operating life business and the net assets of the life business as at that date was N147 million.
