GUINEAINS

Guinea Insurance Plc trades at ₦0.86, representing a 51.5% premium to our blended base fair value of ₦0.42, with the stock priced at 1.30x book despite a loss-making Q2 2026 (PAT of -₦389mn) and a justified P/B of only 0.40x given a cost of equity that materially exceeds the company's ROE. While the completed ₦12.6bn hybrid recapitalisation removes the near-term regulatory extinction risk and positions the company above NAICOM's ₦15bn minimum capital threshold, the current share price is pricing in a profitability recovery that has not yet materialised in reported numbers.

Verdict published 2026-10-26 · fundamentals through 1st Quarter ending March 31, 2026 · reviewed as the data changes