Cornerstone Insurance Plc grows profit by over 2000% in half year 2023

Cornerstone Insurance Plc on Tuesday published its Second Quarter report for the period ended 30 June 2023.

The Group reported Gross Premium Written of N14.727 billion for the 6 months period, up by 42.98% from N10.3 billion reported the previous year.

Profit after tax grew year on year by 2655.27% to N11.251 billion from N408.349 million reported the previous year.

Earnings per share of the underwriting firm stands at N0.62.

At the share price of N0.95, the P/E ratio of Cornerstone Insurance stands at 1.53x with earnings yield of 65.19%.