Cornerstone Insurance Plc grows profit by over 2000% in half year 2023
L–R: Paschal Nwachukwu, Head, Finance and Performance Management Group, Cornerstone Insurance Plc; Cordelia Ekeocha, Head, Marketing and Corporate Communications Group, Cornerstone Insurance Plc; Toks Bello, Executive Director, Technical/Operations, Cornerstone Insurance Plc; Ganiyu Musa, Group Managing Director/Chief Executive Officer, Cornerstone Insurance Plc; Olumide Bolumole, Head, Listings Business Division, The Nigerian Stock Exchange (NSE); Olufunmilayo J. Amanwa, Head, Central Claims Group & Special Risks Underwriting, Cornerstone Insurance Plc; Adewale Foster-Aileru, Group Head, Strategy, Investor Relations & Enterprise Risk Management, Cornerstone Insurance Plc; and Jude Chiemeka, Head, Trading Business Division, NSE at the Closing Gong Ceremony during the company’s courtesy visit to The Exchange, Lagos

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%.

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