Cornerstone grows insurance revenue by 34%

By Rosemary Iwunze

Cornerstone Insurance Plc has grown its insurance revenue by 34 per cent for the year ended 31 December 2025, to N51.66 billion from N38.67 billion.

Acting Chairman of the company, Mr. Afolabi Balogun, disclosed this at the company’s 34th Annual General Meeting in Lagos yesterday.

Afolabi also disclosed that total assets of the company increased by 16 per cent to N141 billion from N121 billion recorded in 2025.

Addressing shareholders, Balogun said: “The year 2025 was one of significant transformation for Cornerstone Insurance Plc. Against a backdrop of economic resilience, evolving regulation, and changing market dynamics, we strengthened our business, refreshed our strategic direction, and positioned the Company for its next phase of growth.

“At Cornerstone Insurance, we continue to earn the trust of our customers by consistently honouring our commitments when they matter most. During the year, Cornerstone paid N423.59 billion in claims across our Life, Non-Life, and Takaful businesses, fulfilling our promise to customers promptly. As we continue to grow, we remain focused on strengthening customer confidence through service excellence, improved claims turnaround times, and continued investment in the people, processes, and technology that underpin our business, recognising that trust remains our most valuable asset.

“Today, the Company stands on a stronger foundation than ever before. As we look to the future, the opportunities before us are significant. I am confident that as we pursue Ambition 2030 with diligence, Cornerstone will create enduring value for shareholders, customers, employees, and all stakeholders in the years ahead. We remain committed to justifying that trust as we continue building a stronger, more resilient, and more valuable institution for the future.

“We have a clear strategy, a strengthened capital base, an experienced leadership team, and the support of a committed majority shareholder. Most importantly, we have a trusted brand and a growing customer franchise that provides a strong platform for sustainable growth. Cornerstone Insurance has undergone significant transformation over the years, strengthening its financial position, enhancing its governance framework, and delivered another year of strong performance.”

Also speaking, Managing Director of the Company, Mr. Stephen Alangbo said: “Our balance sheet remained strong, with total assets increasing by 16 per cent to N141.03 billion, while shareholders’ equity grew to N72.86 billion from N60.50 billion. This reinforces our readiness for the evolving regulatory environment.”