Shareholders of Cornerstone Insurance Plc have unanimously approved a total dividend payout of N5.09 billion for the financial year ended December 31, 2025. The approval was granted during the company's 34th Annual General Meeting (AGM) held in Lagos on Thursday.
Dividend Details and Financial Performance
The dividend, which translates to 25 kobo per share, represents a significant increase from the N3.05 billion (15 kobo per share) paid in the previous year. This marks a 67% rise in dividend payout, reflecting the insurer's improved profitability and strong financial performance in 2025.
Cornerstone Insurance reported a gross premium written of N82.3 billion for the 2025 fiscal year, up from N65.1 billion in 2024, representing a 26.4% growth. Profit after tax surged to N15.6 billion, compared to N9.8 billion in the prior year, a 59% increase. The company's total assets also grew by 22% to N187.4 billion.
Shareholder Reactions and Board Comments
Speaking at the AGM, the Chairman of Cornerstone Insurance Plc, Dr. Segun Aina, expressed gratitude to shareholders for their continued support. He stated, "The impressive results we are presenting today are a testament to the resilience and dedication of our team. We remain committed to delivering sustainable value to our shareholders while strengthening our market position."
Shareholders, represented by various groups, lauded the board's performance. Mr. Timothy Adesiyan, a shareholder, said, "We are pleased with the dividend increase and the company's growth trajectory. The management has done well in navigating the challenging economic environment."
Strategic Outlook
Looking ahead, the company outlined plans to expand its digital insurance offerings and enhance customer experience through technology. The Managing Director/CEO, Mr. Stephen Adeyemi, noted, "Our focus remains on innovation and operational efficiency. We are investing in digital platforms to reach more customers and improve service delivery."
The AGM also saw the re-election of three directors and the appointment of two new independent non-executive directors. The board assured shareholders of continued prudent management and strategic investments to sustain growth.
Cornerstone Insurance Plc, a leading composite insurance company in Nigeria, operates across life and non-life insurance segments. The company is listed on the Nigerian Exchange Group (NGX) and has consistently paid dividends over the past five years.
