June 18 (THEWILL) — Cornerstone Insurance Plc has released its audited financial results for the year ended December 31, 2025, reporting a pre-tax profit of ₦8.73 billion, down from ₦28.62 billion recorded in 2024.
The 69 percent year-on-year decline came despite strong growth in insurance revenue, as weaker investment returns and foreign exchange losses weighed on earnings.
Insurance revenue rose by 34 percent to ₦51.66 billion from ₦38.67 billion in 2024, driven by growth across the company’s life and non-life insurance businesses. Non-life insurance remained the largest contributor, generating ₦29.21 billion in revenue, up 28.4 percent from the previous year, while life insurance revenue surged 62.6 percent to ₦12.39 billion.
The company’s underwriting performance improved significantly during the year. Insurance service expenses declined by 9 percent to ₦23.16 billion, helping insurance service results rise sharply to ₦13.48 billion from ₦2.15 billion in 2024.
However, investment returns fell by 76.6 percent to ₦8.39 billion from ₦35.81 billion recorded a year earlier. The group also posted a net foreign exchange loss of ₦6.13 billion, compared to a gain of ₦30.83 billion in 2024, while net insurance finance expenses increased to ₦3.96 billion.
Profit after tax stood at ₦11.76 billion, down 54.6 percent year-on-year. On the balance sheet, total assets grew by 16 percent to ₦141.03 billion, supported by an increase in financial assets, which rose to ₦88.42 billion from ₦76.37 billion. Cash and cash equivalents remained stable at ₦24.17 billion.
Commenting on the results, the Board said the Group is advancing plans to adopt a holding company structure that will separate its life and general insurance businesses while bringing its insurance subsidiaries, including Hilal Takaful Nigeria Limited, under a more focused operating framework.
Investors reacted positively to the results, with the company’s share price rising 9.3 percent to ₦5.90 following the release of the audited accounts.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
