Cornerstone Insurance Plc and its subsidiary, FIN Insurance Company Limited have been listed by the National Insurance Commission (NAICOM) among that have fulfilled the recapitalisation requirement under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
The announcement by NAICOM marks a significant milestone for the Cornerstone Group, reinforcing its financial capacity and commitment to providing dependable insurance solutions to its customers while positioning the Group’s businesses for sustainable growth in Nigeria’s evolving insurance industry.
Commenting on the development, Stephen Alangbo, managing director of Cornerstone Insurance Plc, expressed his appreciation to the company’s stakeholders for their support in achieving this milestone.
“We are pleased that Cornerstone Insurance Plc and FIN Insurance Company Limited have fulfilled the recapitalisation requirements under the Nigerian Insurance Industry Reform Act 2025. This achievement reinforces our financial strength and our capacity to continue bearing the risks entrusted to us and meeting our obligations to our numerous customers.”
“Innovation remains central to our approach, as we continue to develop solutions that respond to the evolving needs of our customers. The continued confidence and support of our partners, brokers and clients have been instrumental in achieving this important milestone, and we deeply appreciate their trust.”
