Cornerstone Insurance Plc has described the outgoing year as blissful, following the growth of its top line by 30 percent from a loss position in 2017.
The company said it recorded improved profit this year, up from the challenging underwriting position it experienced last year.
The Managing Director of Cornerstone Insurance, Mr Ganiyu Musa, who disclosed this at a recent media parley organised in Lagos, said however, investment performance has remained a big challenge to the company just like every other operator in the system.
He said the company has taken a decision to invest more on longer term than short term.
He cited example of such investment, saying the company had embarked on construction of a 12-storey office complex that would cost minimum of N5 billion.
Describing the project as an investment, Musa said Cornerstone Insurance is focusing on group processes and procedures to serve its clients better.
He said there was high expectation that when the 2018 full year results is out, the company would have performed optimally and would have set high pace for 2019.
Speaking on acquisition of fin insurance by the company, the Cornerstone Insurance boss, said his company has benefit a lot from the deal.
On the company’s management, Musa said in a deliberate bid to strengthen its management team, the company recently appointed Mr. Chidiebere Nwokeocha as an Executive Director Institutional business of the Company.