Insurance World

Cornerstone Insurance Up Topline By 30% Q3, 2018 * Says Corporate Head Office To Cost N8billion

L-R: Executive Director, Technical Operations, Cornerstone Insurance Plc, Toks Bello, Group Managing Director of the company, Ganiyu Musa and Executive Director, Institutional Business, Chidiebere Nwokeocha during the media parley held today with Insurance Correspondents in Lagos.

 

 

BY NKECHI NAECHE—Following strategies put in place in 2018,  top underwriter Cornerstone Insurance Plc on Monday said the company has been able to turn things around in 2018 as it was able to grow its top line by 30 percent at the end of third (Q3) 2018.

The Group Managing Director, (GMD), Ganiyu Musa, disclosed this during a media parley with Insurance Correspondents in Lagos, that 2018  has been significantly successful year when compare with 2017.

L-R: Executive Director, Technical Operations, Cornerstone Insurance Plc, Toks Bello, Group Managing Director of the company, Ganiyu Musa and Executive Director, Institutional Business, Chidiebere Nwokeocha during the media parley held today with Insurance Correspondents in Lagos.

According to him its underwriting profit margin in 2018 improved significantly and have been able to move full circle from underwriting loss position in Q3, 2017 to significant underwriting profit at the end of  third (Q3)2018.

On its corporate head office, he said” We took a decision to invest more on long term rather than focus more on short term investment gains specifically  with our head office building which is a top notch N8billion investment project.

He said the building is not only built to be occupied by the company but an investment property.

He added that “All the monies that had been committed into that project in the past three years is part of our strategic plan.”

He assured that the 2018 full year result will be significantly better than 2016 and 2017 respectively.

Meanwhile, poised to strengthen its   management team, the company has announced the  appointment of Mr. Chidiebere Nwokeocha as an Executive Director of the Company.

Nwokeocha has over twenty- eight years’ varied working experience, spanning banking and finance; oil and gas, corporate, commercial, and retail banking among other areas .

He attended several local and international courses and is an alumni of the London Business School and lnternational lnstitute of Management Development (lMD) Lausanne, Switzerland. We trust that he would make significant contribution to the Company in his role as Executive Director.

 

 

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