The Company was incorporated on 23 June, 1989 as a private limited liability company called "Heritage Assurance Limited" and issued with a composite insurance license by the National Insurance Commission in March 2004. The Company's name was changed to Guaranty Trust Assurance Limited in September 2004, following the acquisition of a majority shareholding by Guaranty Trust Bank Plc. In March 2006, the Company became a public limited liability following the increase in the number of members beyond the maximum required for a private company. The name of the Company was accordingly changed to Guaranty Trust Assurance Plc in November 2009, the Company became listed on the Nigerian Stock Exchange. The Company's principal activity continues to be provision of risk underwriting and related financial services to its customers. Such services include provision of life and non-life insurance services for both corporate and individual customers.