Insurer seeks NAICOM approval to underwrite travel insurance

To widen the financial safety net for both domestic and international travellers, Guinea Insurance Plc will be seeking regulatory approval for travel insurance to mitigate risks in the aviation sector.

The underwriter, at a press conference in Lagos, also said that it was expanding its product collection and partnering with international bodies to increase industry penetration through agric insurance coverage.

The Managing Director/Chief Executive Officer, Ademola Abidogun, said: “We have a very strong board and workforce that is made up of accountants, lawyers, and other professionals with a strong business experience working together to ensure we are where we are today.”

Abidogun said the underwriter has invested so much in staff training and acquisition of technology that will enhance the performance of the organisation.

“We are also getting new businesses from brokers such as marine insurance for example. This segment is also growing even though there have been a lot of challenges in the areas of dollars and importation. Our oil and gas business portfolio has also picked up because people are very passionate about insurance,” he said.