Cornerstone Insurance PLC Expands Annuity Portfolios in Nigeria

Cornerstone Insurance PLC (NGX: CORNERST), led by its Chief Executive Officer and Group Managing Director Stephen Alangbo, is set to broaden its annuity portfolios as part of its growth strategy. The move comes after acquiring annuity obligations from former Lasaco Assurance PLC (NGX: LASACO) customers, following regulatory approvals.

This initiative aligns with Cornerstone's commitment to providing superior services to retirees across Nigeria and enhancing public confidence in the insurance sector. The company's financial strength and readiness to manage the new annuity portfolio without requiring additional capital injection underpin its confidence in the transition.

Cornerstone's proactive approach reflects its dedication to safeguarding policyholders' welfare and ensuring long-term sustainability in the industry amidst ongoing regulatory reforms.