Cornerstone Insurance Plc has released its audited 2025 financial results, reporting a pre-tax profit of N8.73 billion for the year ended December 31, 2025. This figure represents a 69% year-over-year decline from the N28.62 billion reported in FY 2024.
The sharp decrease in profit was primarily attributed to a substantial fall in investment returns, which offset stronger underwriting performance. Despite this, the company achieved a 34% year-over-year growth in insurance revenue, reaching N51.66 billion compared to N38.67 billion in 2024.
The Board commented that the Group’s performance reflects the strength of the Cornerstone franchise, the dedication of its employees and business partners, and the continued trust of its customers and shareholders. The Group is progressing plans to implement a holding company structure to separate its life and general insurance operations.
Non-life insurance remained the largest contributor, with revenue of N29.21 billion, up 28.4% YoY. Life insurance revenue rose to N12.39 billion, a 62.6% increase YoY. Fin Insurance contributed N8.30 billion, and Hilal Takaful contributed N1.75 billion.
Insurance service expenses fell to N23.16 billion from N25.46 billion, but net expenses from reinsurance contracts increased to N15.02 billion from N11.06 billion. The insurance service result closed strongly at N13.48 billion, up from N2.15 billion.
Investment return fell to N8.39 billion from N35.81 billion. The group recorded a net foreign exchange loss of N6.13 billion, contrasting with a N30.83 billion gain in 2024. Net insurance finance expenses rose to N3.96 billion from N1.13 billion.
On the balance sheet, total assets grew by 16% YoY to N141.03 billion, supported by growth in financial assets. Financial assets increased to N88.42 billion, driven by FVTPL assets which rose to N46.03 billion. Insurance contract liabilities also increased to N55.08 billion.
The group’s liquidity position was stable, with cash and cash equivalents at N24.17 billion. Operating cash flow improved materially to N7.65 billion from N1.40 billion.
Following the release of its results on June 17, 2026, Cornerstone Insurance’s share price gained 9.3% to N5.90. However, year-to-date, the stock has declined by 1.01%.
