Cornerstone Insurance HY 2026 Results: Revenue Hits ₦29.01bn
Cornerstone Insurance Plc filed its unaudited financial results for the six months ended 30 June 2026, reporting an 18.6% increase in insurance revenue to ₦29.01 billion. The filing also discloses a decline in profit after tax to ₦5.26 billion from ₦6.73 billion in the same period of 2025.
Cornerstone Insurance Plc (NGX: CORNERST) released its unaudited half-year 2026 financial results on 30 July 2026, covering the period ended 30 June 2026. Insurance revenue grew 18.6% to ₦29.01 billion, up from ₦24.47 billion in H1 2025, driven by increased contributions from both the Group's life and non-life insurance businesses. The insurance service result rose 8.9% to ₦8.87 billion compared with ₦8.15 billion a year earlier.
However, net insurance and investment result declined 4.6% to ₦10.37 billion from ₦10.87 billion in H1 2025, with the Group attributing this to higher net foreign exchange losses and lower fair value gains. Profit before tax fell to ₦6.12 billion from ₦7.47 billion, while profit after tax declined to ₦5.26 billion from ₦6.73 billion. Earnings per share stood at 30 kobo, compared with 31 kobo in H1 2025.
On the balance sheet, total assets increased 6.4% to ₦150.12 billion from ₦141.03 billion at 31 December 2025. Shareholders' funds rose 11.5% to ₦81.22 billion from ₦72.86 billion at year-end 2025. The Group also referenced its proposed holding company restructuring, intended to separate its life and general insurance businesses in line with regulatory requirements.
