Lagos, Nigeria – Cornerstone Insurance Plc has been assigned a national scale financial strength rating of “A-” (A minus) with a Stable Outlook by Agusto & Co. Limited, Nigeria’s leading credit rating agency. The rating affirms the company’s strong capitalisation, sound liquidity, robust asset quality, and experienced management, highlighting its growing influence in the country’s insurance sector.
According to Agusto’s 2025 Rating Report, Cornerstone’s stable earnings, effective reinsurance arrangements, and improving underwriting performance underpin its financial resilience. The agency also emphasised the company’s capital base, which remains well above regulatory minimums, providing a buffer against underwriting and investment risks.
The report further recognised Cornerstone’s investment in digital technology and process automation, which has strengthened operational efficiency and enhanced customer engagement.
Speaking on the development, Stephen Alangbo, Group Managing Director/CEO of Cornerstone Insurance Plc, said:
“We are delighted with this affirmation from Agusto & Co., which reflects the underlying strength and resilience of our business. This rating is a vote of confidence in our governance standards, financial discipline, and our ability to meet obligations to policyholders and partners. As we continue to pursue our goal of becoming the largest insurance-led financial institution in Nigeria by 2030, we remain committed to sustainable growth built on transparency, innovation, and customer trust.”
Chief Financial Officer, Jubril Ajose, added that the rating underscores the company’s prudent risk management, strong balance sheet, and consistent financial performance, even amid challenging economic conditions. He highlighted the company’s ongoing efforts to optimise its investment portfolio and strengthen solvency, ensuring long-term value creation for stakeholders.
Cornerstone Insurance, incorporated in 1991 and listed on the Nigerian Exchange Limited (NGX), provides a wide range of Life and Non-Life insurance solutions including Motor, Life, Health, Travel, and Specialized Risks. The company is noted for its innovation, customer-centric approach, and sound corporate governance, and continues to expand its retail and digital channels to deepen market penetration.
Agusto & Co. Limited, Nigeria’s pioneer credit rating agency, provides independent credit ratings, research, and risk assessments across West Africa. Its ratings are widely used by investors, regulators, and financial institutions as benchmarks for financial stability and performance.
