The National Insurance Commission (NAICOM) has approved 2016 financial accounts of Guinea Insurance Plc, the Executive Director, Finance and Administration, Pius Edobor, has confirmed.
According to him; “The approval was contained in a letter signed on behalf of the Commission by its Director (Supervision) Mr. O. Oba, dated 6th July 2017 and captioned: Approval for Publication of Year 2016 Annual Returns and Accounts.”
This in effect signifies that Guinea Insurance is one of the underwriting firms that have secured NAICOM’s approval upon submission of its 2016 International Financial Reporting Standards (IFRS), based accounts to NAICOM as stipulated in the 2003 Insurance Act.
Edobor, in a statement in Lagos, said the Company is well-positioned to take advantage of the competitive terrain, as it continued to progress on the directions and efforts of its Board, Management and staff.
In his words: “We are alive to our responsibilities of consolidating and strategically growing market share through decisive long-term investments and customer engagement initiatives. Against the background of a complicated national economic environment in the financial year ended December 31, 2016, the Company delivered a relatively good underlying performance.”