Cornerstone Insurance Plc reported a 55 per cent decline in profit after tax for the 2025 financial year despite recording strong growth in revenue and insurance service performance.
The insurance company posted gross revenue of N51.7 billion for the year ended December 31, 2025, representing a 34 per cent increase from the N38.6 billion recorded in 2024. However, profit after tax fell sharply to N3.68 billion from N8.15 billion in the previous year.
The decline in profitability came amid changes in investment income and other earnings components, even as the company’s core insurance operations showed significant improvement.
According to the company’s audited financial statements, insurance service results rose by 527 per cent to N4.4 billion from N702 million in 2024, reflecting stronger underwriting performance and improved management of insurance risks.
Despite the lower profit, Cornerstone Insurance strengthened its financial position during the year. Total assets increased by 19 per cent to N141 billion, while shareholders’ funds rose by 20 per cent to N71.9 billion.
The board proposed a dividend payout of N5.09 billion, translating to 28 kobo per ordinary share, an increase from the 25 kobo per share distributed in the previous year.
Chairman Segun Adebanji said the company remained focused on creating long-term value for shareholders through disciplined risk management, innovation, and sustainable growth.
The company also continued its digital transformation initiatives during the year, including the deployment of artificial intelligence tools to improve customer engagement and claims processing efficiency. According to the company, the adoption of technology helped simplify claim inspections, reduce operational costs, and enhance profitability.
In its sustainability report, Cornerstone Insurance disclosed that it expanded investments in renewable energy, cloud computing infrastructure, and digital platforms as part of efforts to improve operational efficiency and reduce its environmental footprint.
