Cornerstone Insurance Plc shares grew by 125 percent in 2019 to emerge best performed stock on the Nigerian Stock Exchange, according to information from the insurance company.
Building on the impressive results of its 2018 financial year, the company it’s glad to inform its shareholders and the investing public about the achievement made on the company stocks in the 2019 financial year.
Ganiyu Musa, group managing director of the Company who led the top management to the Nigerian Stock Exchange to perform the closing gong ceremony on Wednesday, January 15, 2020, said the insurers we look forward to achieving greater heights this year 2020.
Cornerstone Insurance thinking consolidation in the ongoing recapitalisation exercise
Cornerstone Insurance is looking at a bigger picture of a consolidated company post recapitalisation, where the brand is going to compete effectively with benefits of stronger capacity, synergy, robust human capital and higher technical capacity.
This is as the company is already financially comfortable to meet the regulatory requirement for firms in its category in the ongoing recapitalisation exercise in the industry.
Musa had said during a press conference in Lagos that cornerstone Insurance came out from its loss position of N1.7billion in 2017 to N1.8billion profit in 2018, even as the 2019 profit outlook is showing sign of higher profit from that of the previous year, judging from its 2019 third quarter report.
Modestus Anaesoronye
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