Cornerstone Insurance Plc has reaffirmed its financial stability and commitment to retirees, assuring annuitants of its long-term capacity to meet pension obligations while maintaining trust, transparency, and consistent service delivery across Nigeria.
The assurance was delivered during the recent Annuity Forum in Lagos, where the company’s CEO/Group Managing Director, Mr. Stephen Alangbo, engaged with annuitants, regulators, industry stakeholders, and the media in an interactive session aimed at strengthening relationships and enhancing service delivery.
Engaging Annuitants Through Dialogue and Experience
The forum, designed as a platform for open communication, featured health screenings, entertainment, games, dance sessions, gift presentations, and refreshments, creating an environment for meaningful conversations around customer satisfaction, service improvement, and Cornerstone’s leadership in the annuity market.
Addressing participants, Alangbo highlighted the company’s resilience:
“Our annuitants represent the trust our customers continue to place in us, the commitment of our people, and the strength of our vision. We are building a future-ready business that remains relevant to individuals, families, and businesses across Nigeria.”
Expansion of Annuity Portfolio
In a key announcement, Cornerstone Insurance confirmed it has officially assumed responsibility for the annuity payments of former Lasaco Assurance Plc customers, following regulatory approval. This follows the successful acquisition of annuity obligations from Niger Insurance Plc last year, marking a continued expansion in Cornerstone’s annuity footprint.
“Cornerstone is well-positioned and financially strong. We are ready to take on more annuity portfolios and will communicate updates to annuitants and the public where necessary,” Alangbo said.
The acquisition, he noted, strengthens public confidence in the insurance sector while reinforcing the company’s dedication to safeguarding retirees and long-term policyholders.
Stability Amid Regulatory Reforms
Alangbo also addressed concerns regarding the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which mandates recapitalisation across the sector.
“Subject to confirmation from NAICOM, Cornerstone Insurance Plc does not need to raise additional capital under NIIRA 2025. We are solid, transparent, and fully able to continue paying claims without interruption,” he assured annuitants.
Commitment to Transparency and Trust
Expressing gratitude to retirees, guests, and members of the press for their trust, Alangbo reiterated Cornerstone’s customer-first philosophy:
“At Cornerstone Insurance Plc, we are not like any other insurance company. We are unique. We are transparent. We keep our promises, and your trust is the foundation of everything we do.”
Cornerstone Insurance Plc has been operating for over 30 years, with subsidiaries including FIN Insurance and Hilal Takaful, continuing to strengthen its position as a trusted provider of annuity and insurance services in Nigeria.
