Cornerstone Insurance Plc Profits Drop 67% on FX Losses
Cornerstone Insurance Plc's profit after tax dropped by 67% to N8.10 billion in the nine months ending August 2025, mainly attributed to significant foreign exchange losses. The company's interest income and investment income also saw declines, while investment revenue increased by 39%.
Despite the profit decline, the firm's balance sheet position improved, with total assets increasing to N135.76 billion. The company maintained a positive solvency position despite rising operational costs.
Plus234Feed summary based on reporting from Business Day. Read the original report below.
Read full article
Continue on Business Day
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Cornerstone Insurance Wins Double Awards for Customer Value and Risk Management Excellence
Linkage Assurance Profit Falls 25% Despite Increased Premium Income
Sterling's Profit Doubles on Strong Gross Earnings in 2025
Sterling Financial Holdings Records 141% Surge in Pre-Tax Profit to ₦70.9bn in 9 Months of 2025
Nigerian Insurance Companies Report 45% Drop in Profit to N78.77bn
CardinalStone's Obiyemi on Issuing Houses' Vital Role
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
