Cornerstone Insurance Plc has reported a remarkable 253% surge in profit for the second quarter of 2025, marking one of its strongest quarterly performances in recent years and signaling renewed investor confidence in the firm’s strategic direction.
According to its unaudited financial statement released to the Nigerian Exchange (NGX), the company recorded a profit after tax of ₦2.36 billion for Q2 2025, up from ₦668 million reported during the same period last year.
The impressive growth was driven by a combination of improved underwriting performance, higher investment income, and enhanced operational efficiency. Gross premium written also rose by 32% year-on-year, underlining stronger customer acquisition and retention across key segments including life, motor, and general business.
“Our disciplined risk management approach, digitization strategy, and customer-centric innovations continue to drive our momentum,” said Ganiyu Musa, Managing Director/CEO of Cornerstone Insurance. “This result reflects our commitment to long-term value creation.”
The company also reported a significant improvement in its combined ratio, indicating better cost control and underwriting profitability. Investment income grew by over 40%, buoyed by favorable yields in the fixed-income market and strategic asset allocation.
Analysts say Cornerstone’s performance is a positive sign for Nigeria’s broader insurance sector, which has faced headwinds from inflation, currency volatility, and low penetration rates.
The company’s strong Q2 showing may also boost investor sentiment ahead of its full-year results, as the firm continues to expand its digital footprint and roll out new products targeting underserved markets.
Cornerstone Insurance Plc is listed on the NGX and remains one of Nigeria’s leading underwriters, with a diversified portfolio and growing presence in the West African insurance market.
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