CORNERSTONE BOOSTS ASSETS 16%, EYES RETAIL INSURANCE GROWTH

Cornerstone Insurance Plc has recorded a 16% increase in total assets in the first half of 2026, as the company continues to strengthen its position in the Nigerian insurance industry.

The insurer disclosed this in its half-year financial results released on Friday. Total assets grew to N48.7 billion from N42 billion in the corresponding period of 2025, driven by increased premium income and investment returns.

Cornerstone Insurance Managing Director, Mr. Ganiyu Musa, attributed the growth to the company’s strategic focus on retail insurance and digital innovation. “We are pleased with the 16% growth in assets. Our focus on retail insurance is yielding positive results, and we will continue to expand our reach and product offerings,” Musa stated.

The company has been investing in digital platforms to make insurance more accessible and convenient for retail customers. It has also introduced new products tailored to the needs of individuals and small businesses, contributing to the growth in premium income.

Analysts have commended Cornerstone Insurance for its strong performance and strategic direction. They expect the company to continue growing its retail insurance portfolio and improve its market share in the coming years.

The firm also reported a healthy profit before tax, reflecting improved underwriting performance and cost management. Cornerstone Insurance has been focusing on risk diversification and operational efficiency to sustain profitability.

The company has pledged to continue investing in technology and customer service to drive further growth and solidify its position as a leading player in the retail insurance segment. Stakeholders believe the company’s focus on retail will help increase insurance penetration in Nigeria and contribute to the overall development of the industry.