Agusto & Co. Rates Cornerstone Insurance ‘A-’ with Stable Outlook
Cornerstone Insurance Plc has received a national scale financial strength rating of “A-” (A minus) with a Stable Outlook from Agusto & Co. Limited, Nigeria’s leading credit rating agency. This rating was reflected in Agusto & Co.’s 2025 Rating Report.
The agency affirmed the rating based on Cornerstone’s strong capitalisation, good asset quality, and experienced management. The company also benefits from stable earnings and robust reinsurance arrangements. These factors continue to support its financial resilience and solid market position in Nigeria’s insurance industry.
“The company’s capital base remains well above regulatory minimums, providing a buffer against underwriting and investment risks,” Agusto & Co. noted.
Digital Transformation and Improved Customer Engagement
The report also emphasized Cornerstone’s ongoing investment in digital capabilities and process automation. These efforts have enhanced operational efficiency and customer engagement. These improvements help Cornerstone meet customer needs while streamlining operations.
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Leadership Insights
Speaking about the rating, Group Managing Director/CEO of Cornerstone Insurance Plc, Mr. Stephen Alangbo, said, “We are pleased with this affirmation from Agusto & Co., which reflects the 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.”
“Our strategic aspiration is to become Nigeria’s largest insurance-led financial institution by 2030. We remain committed to sustainable growth based on transparency, innovation, and customer trust,” Alangbo added.
Chief Financial Officer Mr. Jubril Ajose said, “The A-rating and stable outlook reaffirm our commitment to maintaining a strong balance sheet and prudent risk management practices. It reflects the success of our capital management strategy and ability to deliver consistent financial performance despite the challenging economic environment.”
A Reputation for Dependability
The company’s rating further reinforces its reputation as one of Nigeria’s most dependable insurers, trusted for its claims-paying ability and professional service. As Cornerstone continues to innovate and strengthen its financial position, the rating highlights its role as a pillar in Nigeria’s insurance sector.
Cornerstone Insurance Plc, established in 1991 and listed on the Nigerian Exchange Limited, provides both life and non-life insurance solutions in Nigeria.
