Tag: Guinea Insurance Plc

Guinea Insurance Plc released its unaudited financial results for the third quarter of the year ended 30th of September 2021.

• Gross premium written during the period was N286.52 million. (+1.83% YoY)
• Gross premium income for the period was N346.69 million (+32.07%)
• Net premium income stood at N221.53 million. (+20.59% YoY)
• Underwriting profit for the period was N223.97 million. (+324.35% YoY)
• Profit before tax of N96.68 million was recorded during the period.
• Profit for the period stood at N95.76million from a loss after tax of N65.93million YoY
• Total assets during the period stood at N3.48 billion.
• Earnings per share of 1.6 kobo Vs –0.41 kobo YoY.

See full result here.

The board and management of Guinea Insurance Plc, a leading insurance company, have notified the Nigerian Exchange Group Limited (NGX) of the appointment of Mrs. Chinenye Nwankwo as the new company secretary.

This is according to a statement signed by the Managing Director/CEO of the company, Mr. Ademola Abidogun, dated 17th of September, 2021.

According to the notice, Mrs. Nwankwo was appointed as the new in-house Company Secretary cum Legal Adviser of the Company following the resignation of the former secretary, Mrs. Oluranti Oke. It is pertinent to note that Mrs. Oke resigned from her position following the disengagement of DSCL Corporate Services Limited which served as the outsourced company secretary of Guinea Insurance Plc.

Corroborating this, an abstract of the recent notice issued by the company and filed with the Nigerian Exchange Limited (NGX) read thus: ‘’Following the resignation of Mrs. Oluranti Oke and disengagement of DSCL Corporate Services Limited, as the outsourced Company Secretary of Guinea Insurance Plc (GIPLC or the Company), we wish to formally notify the Nigerian Exchange Limited (NGX), our distinguished Shareholders and the General public of the appointment of Mrs. Chinenye Nwankwo, as the in-house Company Secretary cum Legal Adviser of the Company.’’

About Mrs. Nwankwo

Mrs. Chinenye Nwankwo is a seasoned legal practitioner with over 10 years of experience and expertise in litigation, corporate governance, legal and regulatory compliance, company secretarial practice, capital market, legal audit and due diligence, corporate restructuring and commercial dispute resolutions. Before joining Guinea Insurance Plc, she led the legal and compliance unit at Financial Derivatives Company Limited, Nigeria. She has also functioned as Company Secretary to other similar public quoted companies, multinationals and startups in the technology sector.

In terms of education, Mrs. Nwankwo is a Law graduate from the University of Nigeria, Nsukka (UNN) and was called to the Nigerian Bar in 2009. She is a member of the Nigerian Bar Association, an accredited practitioner with the Corporate Affairs Commission and registered practitioner, Financial Reporting Council and student member of the Institute of Chartered Secretaries and Administrators, Nigeria.

The Board of Guinea Insurance Plc has announced that it will be hosting its 63rd Annual General Meeting on the 23rd of September, 2021. The meeting will be held at the company’s head office in Jibowu Lagos, by 11:00 am prompt,

This is according to a statement issued by the company and signed by its secretary, Chinenye Nwankwo. Some of the issues to be discussed at the AGM include;

• The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
• Board appointments will also be considered and ratified.
• To fix remuneration of managers and Directors in FY 2021.
• To elect shareholders’ representatives of the statutory audit committee, among others.

In view of the directives on physical distancing and the restriction on maximum number of people at every gathering due to the COVID-19 pandemic, the meeting will hold by proxy in accordance with section 254 of the Companies and Allied Matters Act 2020 and as approved by the Corporate Affairs Commission.

Additionally, the AGM will be streamed live online, to enable shareholders and other relevant stakeholders who will not be attending the meeting physically to also be part of the proceedings. The link for the live streaming will be made available on the company’s website: www.guineainsurance.com/agm

What you should know:

• Guinea Insurance Plc had earlier reported a loss after tax of N90.59 million in HY 2021.
• As at the period of reporting this, the firm is currently trading at 20 kobo on the floor of the Nigerian Exchange Limited (NGX).

For more information about the AGM, click HERE.