Damilare Bakare
Group Lead , Information Technology & Customer Service at Guinea Insurance Plc - Lagos, Lagos, Nigeria
Damilare Bakare's Colleagues at Guinea Insurance Plc
Ogunniyi Folakemi
Assistant Executive- Direct Marketing, Energy and Special Risks
Damilare Bakare's Contact Details
01-2934577
Lagos,Lagos,Nigeria
Guinea Insurance Plc
Damilare Bakare's Company Details
The history of GUINEA INSURANCE PLC dates back to the year 1948 when British West African Corporation Limited (BEWAC) opened an Insurance Department and became Chief Agents in Nigeria for Legal and General Assurance Society Limited of London. In 1950, the Agency was extended to Norwich Union Fire Insurance Society Limited, United Kingdom. In response to Business Growth and to maximize available opportunities, Legal & General Assurance Society Limited, Norwich Union Fire Insurance Society Limited, Northern Region Development Corporation Limited and British West African Corporation Limited jointly incorporated an insurance Company. Thus, Guinea Insurance Company Limited became operative from December 3, 1958. The Overseas shareholders held 51% majority shares before the indigenization decree of 1976, reversed the holding to 60% Nigerian interest, 40% overseas. The Overseas Shareholders divested their 40% holding to existing Nigerian Shareholders in 1988 thereby making the Company 100% Nigerian.