BY NKECHI NAECHE-ESEZOBOR—Nigeria’s leading underwriter, Cornerstone Insurance Plc, has strengthened its financial position after posting solid growth across key performance indicators for the 2025 financial year.
Speaking today during the company’s 34th Annual General Meeting (AGM), held in Lagos, its Acting Chairman, Afolabi Balogun, said the company’s profit after tax rose to N11.76 billion at the end of 31st December, 2025 when compared to N25.89 billion reported in 3025. D
According to him the Group recorded insurance revenue of N51.66 billion, representing 34% increase over the previous year of 2024, while earnings per share stood at 64 kobo per share.
Total assets rose to N141.03 billion while shareholders’ fund rose to N72.86 billion from N60.50 billion in the previous year of 2024.
In recognition of these performance, the Board recommended a dividend of N0.28 per share.
These results he noted reflect the strength of its franchise, the quality of its customer relationships, and the disciplined execution of our strategy.
On future outlook he said “Cornerstone enters this new phase from a position strength. We have a clear strategy, a strengthened Capital base, an experienced leadership team, and the support a committed majority shareholder. Most importantly, have a trusted brand and a growing customer franchise that provides a strong platform for sustainable growth.
Managing Director, Stephen Alangbo, further explained that the company’s profit before tax declined to ₦8.73 billion from ₦28.62 billion in 2024 due to the normalisation of earnings after the exceptional foreign exchange gains recorded in the previous year.
He noted that the company had posted ₦30.83 billion in one-off foreign exchange gains in 2024 following the Naira devaluation.
“Adjusting for this one-off effect, our underlying performance demonstrates sustained growth in our core insurance operations,” Alangbo said.
The company’s report also showed that net profit for the year stood at ₦11.76 billion, down from ₦25.89 billion in 2024, further reflecting the normalisation of earnings after the exceptional gains recorded in the previous year.
