Cornerstone Insurance Lauds Brokers, Clients Over N17bn Profitability

Cornerstone Insurance Plc has applauded the support of the insurance brokers and loyalty of its numerous customers , who were instrumental to the about N17 billion premium income the insurer declared in its 2023 financial year.

Speaking at a media parley to celebrate one year in office of its MD/CEO, Stephen Alangbo, at the company’s headquarter in Victoria Island, Lagos recently, the company boss also acknowledged the efforts of dedicated staff and other stakeholders for their contributions to the company’s achievement.

The recent clinching of the prestigious Insurance Company of the Year 2024 Award by the African Insurance Organisation (AIO), he said, is a reward for the hard work the current management put in to ensure the insurer remains a top brand.

Alangbo, while counting the company’s achievements in the last one year, disclosed that the company recorded remarkable achievements, promising to continue to ensure continuous improvements.

To him, “Our 2023 financial account was very good; we grew by about 40 per cent in our business. In profitability, we moved from N2.9 billion in 2022, to N17 billion as at the end of 2023. It has been very wonderful, the team has worked tirelessly to ensure that the vision, dreams, and goals are achieved.”

At the recent AIO award, Alangbo said: “We are also happy that I was nominated as one of the Africa CEOs of the Year. Incidentally, the lady from Ethiopia won it. But we are resolute and determined that we don’t only win the African Insurance Company of the year, we will win the CEO of the year at other awards available at the AIO.”

Disclosing the future that lies ahead, he said, the management has invested a lot in retail business and is currently securing partnerships with several groups to be a dominant player in this space.

He urged Nigerians to patronise the insurer for their underwriting businesses as Cornerstone Insurance is liquid and well capitalised to pay claims on insured risks it underwrite.