CORNERSTONE INSURANCE EYES IMPROVED GROWTH
The Managing Director/Chief Executive Officer of Cornerstone Insurance, Stephen Alangbo, has projected a brighter future for the firm as he commemorated his first year in office. During a press briefing in Lagos on Friday, Alangbo highlighted some of the company’s achievements under his leadership.
Alangbo revealed that Cornerstone Insurance Plc received the Insurance Company of the Year 2024 Award from the African Insurance Organisation and made about N17 billion in profit before tax. He emphasized the company's strong relationship with brokers and clients, attributing this to their recent successes.
Alangbo stated, “We have recorded remarkable achievements in the last year, and we will continue to ensure continuous improvements. Our 2023 financial account was very good; we grew by about 40 per cent in our business. In profitability, we moved from N2.9 billion in 2022 to N17 billion at the end of 2023.”
Looking ahead, he expressed optimism for even greater results in the coming year, aiming for unprecedented achievements with the support of his team. Additionally, Alangbo promised improved returns for shareholders at the upcoming annual general meeting, with the firm proposing a dividend of N2.91 billion at 16 Kobo per share, up from N1.09 billion in 2022.
Alangbo took over as MD/CEO of Cornerstone Insurance on July 1, 2023, succeeding Ganiyu Musa.
The Managing Director/Chief Executive Officer of Cornerstone Insurance, Stephen Alangbo, has projected a brighter future for the firm as he commemorated his first year in office. During a press briefing in Lagos on Friday, Alangbo highlighted some of the company’s achievements under his leadership.
Alangbo revealed that Cornerstone Insurance Plc received the Insurance Company of the Year 2024 Award from the African Insurance Organisation and made about N17 billion in profit before tax. He emphasized the company's strong relationship with brokers and clients, attributing this to their recent successes.
Alangbo stated, “We have recorded remarkable achievements in the last year, and we will continue to ensure continuous improvements. Our 2023 financial account was very good; we grew by about 40 per cent in our business. In profitability, we moved from N2.9 billion in 2022 to N17 billion at the end of 2023.”
Looking ahead, he expressed optimism for even greater results in the coming year, aiming for unprecedented achievements with the support of his team. Additionally, Alangbo promised improved returns for shareholders at the upcoming annual general meeting, with the firm proposing a dividend of N2.91 billion at 16 Kobo per share, up from N1.09 billion in 2022.
Alangbo took over as MD/CEO of Cornerstone Insurance on July 1, 2023, succeeding Ganiyu Musa.