BY NKECHI NAECHE-ESEZOBOR—Valmongd Nigeria Limited has increased its stake in Cornerstone Insurance Plc following a significant acquisition of the company’s ordinary shares.
According to notice to the Nigerian Exchange Limited and to its investing public, the shareholder disclosed the purchase of 1,815,634,126 ordinary shares in Cornerstone Insurance Plc at a price of ₦5.05 per share.
The notice further said that the transaction was completed on 27 November 2025 on the Nigerian market.
The share purchase underscores continued investor interest in Cornerstone Insurance Plc and reflects Valmongd of Nigeria Limited’s position as a key shareholder in the company.
The disclosure was made as an initial notification, in line with regulatory requirements on share dealings and insider reporting.
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Cornerstone Insurance Plc was Incorporated on 26th July 1991 as private limited liability company and became a Public Liability, quoted on the Nigerian Stock Exchange in 1997.
Its assets exceed ₦121bn, with shareholders’ funds of ₦₦61bn.
With over 30 years of providing reliable Life and General insurance coverage across all generations such as motor, aviation, marine, travel, engineering and much more.
- Insurance Revenue: ~₦38.67 billion (a 49% increase).
- Profit After Tax (PAT): ~₦25.89 billion (an 87% increase).
- Profit Before Tax (PBT): ~₦28.6 billion (a 68% increase).
- Earnings Per Share (EPS): N1.42kobo.
- DividendsDeclared: ₦4.9 billion (₦0.27 per share).
- Robust Growth: Strong performance across general business, especially in Engineering, Oil & Gas, and Motor Insurance.
- Investment Income: Significant contribution from strategic asset allocation.
- Strategic Execution: Demonstrated effective strategy and risk management.
