• Saturday, July 13, 2024
businessday logo


Cornerstone Insurance braces for stronger growth on Alangbo’s one-year as CEO

Cornerstone Insurance braces for stronger growth on Alangbo’s one-year as CEO

The Stephen Alangbo-led management of Cornerstone Insurance Plc said the underwriting firm has been positioned for stronger growth and value creation for shareholders and customers.

Alangbo who made the remark to mark his one year in office said Cornerstone Insurance Plc has witnessed the restructuring of its retail business segment, improved relationship with partners, introduced innovative products, improved service delivery, united workforce, technology adoption and a solid foundation for future growth.

Alangbo while highlighting some of his achievements in the past one year said the Company’s performance for 2023 was very good, reflecting a significant growth in the organization.

“For top line, we have recorded about 40 per growth in our business. For profitability, we have moved from N2.9 billion in 2022 to N17 billion as at the end of 2023. It has been very wonderful. The team had worked tirelessly to ensure that our visions, our dreams, and our goals were achieved.

For our future, we are expecting an unprecedented result. I am expecting a mind-blowing result. If in the last year, we have been able to achieve N17 billion and African Insurance Company of The Year, you can see a sign that the future is bright.

Read also: Cornerstone Insurance launches four new products to promote savings

Alangbo said their determination to build a united and successful company has been achieved, noting that the Company is more united now than before focusing on driving the growth of the Company.

Alangbo said the Company has reorganized its processes and embraced technology for improved service delivery, adding that they have redesigned its products and developed new ones to meet the needs of its clients.

“Our determination to build a united company has been achieved and that is why we achieved the mileage that we had. I want to inform you that we have a united team that has a single focus – ‘One Team, One Goal’ which is propelling Cornerstone forward.

“We have created a partnership that created a platform for us to have a company of our dreams.

“We have restructured the retail business. If you recollect during our last parley, I said we are going to give more attention to retail, am happy to inform you that we have done a lot of work as regards retail and we have created a solid foundation for future Cornerstone.

Aside from this, we have improved our processes by applying technology to support our business, to ensure that our services are second to none, and our clients are happy.