‎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.

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The launch marks a key milestone in Cornerstone Insurance’s long-term human capital strategy, reinforcing its commitment to continuous learning and sustainable performance. The academy integrates digital learning platforms with purpose-built physical training facilities. While the digital platform is already live, the upcoming physical academy will further enhance in person and hybrid learning experiences

Developed by the Human Capital team, the Learning Management System (LMS) serves as the academy’s virtual classroom and is now accessible to employees across the Group; https://academy.cornerstone.com.ng/.

A dedicated mobile application is also ready for deployment, alongside a fully functional academy website, ensuring seamless access to learning resources anytime and anywhere;https://app.cornerstone.com.ng/academy/index.html.

Speaking at the launch, the Group Managing Director and Chief Executive Officer, Stephen Alangbo, described the academy as a strategic investment in people and the future of the insurance industry.

He noted that it reflects the company’s commitment to building a future-ready workforce and embedding a culture of continuous learning aligned with its long-term growth ambitions.

In the short term, the academy focuses on structured capability development across the Group. Over the long term, it is positioned to evolve into a leading learning and knowledge hub for the insurance and financial services sector in Nigeria and across Africa.

About Cornerstone Insurance

Cornerstone Insurance is licensed and re-certified by the National Insurance Commission (NAICOM) to provide both general and life insurance services. As the first insurance company in Nigeria to offer customers an online platform for insurance transactions, its services are driven by cutting-edge technology, making them easily accessible via the internet and mobile platforms.

At Cornerstone, we are committed to our core values of integrity, empathy, professionalism, innovation, and team spirit. Our mission remains delivering value beyond expectations through need-based products and quality service.

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