Cornerstone Insurance Posts 253% Profit Growth In Q2

Cornerstone Insurance Plc has announced a 253 per cent surge successful Profit Before Tax (PBT) for the 2nd 4th of 2025, marking 1 of its strongest performances successful caller years.

The company’s main enforcement serviceman and radical managing director, Stephen Alangbo, disclosed this yesterday astatine an annuity interactive league successful Abuja themed “Securing Your Golden Years.”

According to the unaudited fiscal results, security gross roseate to N19.3 cardinal successful Q2 2025, representing a 127 percent leap from N8.5 cardinal successful Q1. PBT grew from N1.5 cardinal successful Q1 to N5.3 cardinal successful Q2, driven by disciplined hazard selection, customer-focused innovation, and technology-driven distribution.

“These numbers bespeak much than conscionable fiscal growth; they correspond the spot our customers proceed to spot successful us, the committedness of our people, and the spot of our vision. We are gathering a future-ready concern that stays applicable to the evolving needs of individuals, families, and businesses crossed Nigeria,” Alangbo said.

The CEO expressed optimism that Cornerstone would prolong its momentum into Q3, citing maturation successful retail and annuity portfolios.

He confirmed that annuity assets from different insurers had been transferred to Cornerstone, pending last regulatory approval.

Alangbo stressed the company’s beardown superior base, noting: “We are not going to the marketplace to rise superior — due to the fact that we person capable capital. Neither are we readying to merge with different company. We tin lone get if opportunities arise.”

On regulatory reforms, helium welcomed the Nigerian Insurance Industry Reform Act (NERA), which raises minimum superior requirements and establishes a argumentation extortion money to safeguard policyholders.

He besides urged Nigerians to clasp compulsory security policies, status savings, and annuity packages.

Reaffirming Cornerstone’s committedness to claims settlement, Alangbo said: “Thirty-five years ago, we promised to honour each claim. Today, 34 years later, Cornerstone does not person a azygous documented assertion that has not been paid.

Any decently documented assertion is settled wrong 48 hours.”

Between 2020 and 2024, the institution paid retired implicit N13.6 cardinal successful claims, portion the wider security manufacture disbursed much than N600 cardinal successful the aforesaid period.

Founded successful 1991 and listed connected the Nigerian Exchange successful 1997, Cornerstone holds shareholder funds nearing N60 billion, good supra regulatory thresholds.

It remains a starring supplier of wide and beingness insurance, covering sectors including motor, travel, marine, engineering, lipid and gas, radical life, and Takaful insurance.

The institution has received respective accolades successful caller years, including being named African Insurance Company of the Year 2024 by the African Insurance Organisation and being recognised among Nigeria’s Top 100 Impact-making Businesses.