Cornerstone Insurance Plc has strengthened its standing in Nigeria’s insurance market after emerging as Champion Newspapers’ Insurance Company of the Year 2025 and securing an A- national scale financial strength rating with a Stable Outlook from Agusto & Co. Limited.
In its 2025 Rating Report, Agusto cited Cornerstone’s strong capitalisation, healthy liquidity, sound asset quality and experienced management team as key drivers of the rating. The agency also highlighted the company’s stable earnings profile, solid reinsurance arrangements and improving underwriting performance.
“The company’s capital base remains well above regulatory minimums, providing adequate buffers against underwriting and investment risks,” Agusto said, adding that Cornerstone’s investments in digital platforms and process automation have boosted efficiency and customer engagement.
Group Managing Director and Chief Executive Officer, Mr Stephen Alangbo, described the rating as a validation of the company’s resilience and governance standards.
“This affirmation reflects the strength of our business and our commitment to financial discipline, transparency and customer trust as we pursue our ambition of becoming Nigeria’s largest insurance-led financial institution by 2030,” he said.
Chief Financial Officer, Mr Jubril Ajose, said the A- rating underscored Cornerstone’s strong balance sheet and prudent risk management, noting that the company would continue to optimise its investment portfolio and strengthen solvency to deliver long-term value.
Cornerstone said the recognition reinforces its reputation as one of Nigeria’s most reliable insurers, particularly in claims settlement and professional service delivery. The company continues to expand its retail and digital channels while deepening penetration across key market segments.
Incorporated in 1991 and listed on the Nigerian Exchange Limited (NGX), Cornerstone Insurance Plc provides life and non-life insurance products spanning motor, health, travel and specialised risks. Agusto & Co. Limited is Nigeria’s pioneer credit rating agency, providing independent ratings and risk assessments across West Africa.
