Guinea Insurance Plc has strengthened its alignment with the National Insurance Commission (NAICOM) as the industry moves toward the full implementation of the National Insurance Industry restructuring and Recapitalisation (NIIRA) programme.

During a strategic visit to the commission in Abuja, the company’s board and executive management met with the Commissioner for Insurance, Olusegun Omosehin, to discuss regulatory priorities and how insurers can leverage NIIRA to enhance competitiveness.

With Nigeria’s insurance operators preparing for stricter capital thresholds and stronger governance requirements under NIIRA, both parties stressed that early collaboration between regulators and insurers would be critical to reducing compliance frictions, improving operational transparency and ensuring that reforms translate into tangible efficiency gains for policyholders.

Chairman of the Board of Directors of Guinea Insurance, Temitope Borishade, said the engagement reflected the company’s intention to reposition itself for a more technology-driven and customer-responsive industry landscape.

He noted that Guinea Insurance was already refining its operational processes and boosting its capital base to meet the new standards.

He added that the reforms presented an opportunity to build “a stronger, more efficient institution capable of competing in a modern insurance market”.

According to him, closer cooperation with NAICOM will help operators TO anticipate regulatory expectations, streamline internal systems and reduce the cost of compliance.

Omosehin commended the insurer’s proactive stance, reiterating the commission’s commitment to ensuring that the recapitalisation programme strengthens solvency, improves claims responsiveness and enhances customer trust across the sector.