{"id":464726,"date":"2019-02-11T12:15:13","date_gmt":"2019-02-11T11:15:13","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=464726"},"modified":"2019-02-11T12:15:13","modified_gmt":"2019-02-11T11:15:13","slug":"nigeria-suspension-of-guinea-insurance-activities","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2019\/02\/11\/nigeria-suspension-of-guinea-insurance-activities\/","title":{"rendered":"Nigeria: suspension of Guinea Insurance activities"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>In Nigeria, Guinea Insurance Plc&#8217;s activities were suspended by the National Insurance Commission (NAICOM) in a decision issued on January 29, 2019 by the regulator. Reasons, the delay in the appointment of a new Director General and the non-compliance with certain measures, including the renewal of certain reinsurance treaties, among others.<\/p>\n<p>According to NAICOM, the company will no longer be able to take out new business. However, it is authorized to continue the management of its risk portfolio.<\/p>\n<p>Listed on the Lagos Stock Exchange, Guinea Insurance Plc is a non-life insurance group organized around 4 business lines: accident insurance which represents more than 50% of gross written premiums, fire insurance, insurance automotive and marine and aviation insurance. Its stock market share reached its lowest level in five years (0.23) during the session of January 24, 2019.<\/p>\n<p>In addition, the figures at the end of the third quarter of 2018 show a loss after tax of 134 million euros against a profit of 69 million euros in 2017.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>In Nigeria, Guinea Insurance Plc&#8217;s activities were suspended by the National Insurance Commission (NAICOM) in a decision issued on January 29, 2019 by the regulator. Reasons, the delay in the appointment of a new Director General and the non-compliance with certain measures, including the renewal of certain reinsurance treaties, among others. According to NAICOM, the<\/p>\n","protected":false},"author":530746,"featured_media":464729,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12000,11996],"tags":[13268,15227,38],"class_list":{"0":"post-464726","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-banks-insurance","8":"category-finance-en","9":"tag-guinea","10":"tag-naicom","11":"tag-nigeria","12":"post_format-post-format-aside","13":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigeria: suspension of Guinea Insurance activities - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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We aspire to neutrality, but we assume our subjectivity\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.financialafrik.com\/en\/2019\/02\/11\/nigeria-suspension-of-guinea-insurance-activities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria: suspension of Guinea Insurance activities\" \/>\n<meta property=\"og:description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. The aim of Kapital Afrik is to provide financial and political news, give priority to human entrepreneurial experiences, lend life to economic policies, givemeaning to statistics. Our \u201cexaggerated pretensions\u201d inspire us. 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