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Guinea Insurance gets NIPEX nod for energy deals

News » Business

24th June 2014

The strategic reengineering initiatives launched by Guinea Insurance plc are beginning to yield positive result, as the company has been certified to undertake large energy businesses.

The achievement came just as Guinea Insurance recorded another feat by its readmission to the African Insurance Organisation (AIO).

Guinea Insurance was given a clean bill of health to handle large accounts following the successful conclusion of the prequalification audit recently conducted by the Nigerian Petroleum Exchange (NIPEX).

The NIPEX certificate affirms Guinea Insurance as a viable player in the industry and attests to its capacity to take on mega oil and gas businesses in Nigeria. In a related development, its membership was reinstated at the regional body’s (AIO) 41st Conference and General Assembly held in Kigali, Rwanda.

The readmission will avail Guinea Insurance the privilege to subscribe to the African Oil & Gas and Aviation pools. It will also enable the company to place part of its Energy and Aviation acceptances/risks businesses with the mega pools in Africa.

Polycarp Didam, managing director/CEO OF Guinea expressing his pleasure at the achievements said they were results of the company’s determination to become insurer of first choice.  Didam said the company was committed to enhancing capacity building and continually exploring opportunities in the industry.

His said  ‘we have finally received our certificate from NIPEX to bid on large ticket energy deals, with this approval; we are now set to participate in energy related deals in Nigeria, which is a very serious achievement for our company”.

“Moreso, our company was reinstated as a full member of the AIO and with the opportunity to participate in Energy and Aviation pools of the Association in Africa, this is a pointer to a better future for our company.”

In similar vein, the Team Lead, Energy and Special Risks, Evwaire Godwin, said the company was set to fully explore opportunities in the sector. 

“Frantic efforts are underway to revitalise and position the brand on a higher pedestal that would generate positive emotional after-taste and propel confidence and equitable service delivery to enable the company take its rightful place in the Nigerian insurance industry.”

Meanwhile, industry analysts describe this latest achievement by Guinea Insurance Plc as a major breakthrough which will help the company consolidate its footing in the insurance sector.

Article Credit: Business Day News

Updated 5 Years ago

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Tags:     Guinea Insurance     Polycarp Didam