CORNERSTONE INSURANCE PLC Company Profile

CORNERSTONE INSURANCE PLC

Cornerstone Insurance Plc was incorporated on 26th July 1991 as a private limited liability company and became a Public Limited Liability, quoted on the Nigerian Stock Exchange in 1997 the organization was established to conduct Insurance business in a professional, ethical and customer-focused manner and has remained committed to these values over the years.
 
The Company is licensed and re-certified by the National Insurance Commission (NAICOM) to do both General and Life businesses and the classes of Insurance business they currently undertake includes:
 
Motor Vehicle, Aviation, Marine, Engineering All Risks, Asset Protection, Liability to Third Party, Oil & Gas, Group Life, Credit Life, Mortgage Protection, Term Assurance, Wealth Creation Products and Takaful (Islamic Insurance)
 
The company’s Authorized Share Capital and Market Capitalization is N7.5 billion and N5 billion respectively, while the Shareholders’ Funds is N10.5 billion as at December 2019. The total assets of the company are in excess of N29.3 billion.
 
Cornerstone is committed to both core values of Integrity, Empathy, Professionalism, Innovation, and Team Spirit and our continued mission of delivering value beyond expectations through needs-based products and quality service
 
Cornerstone Insurance Plc. is the first insurance company in Nigeria to provide customers with an online platform for insurance transactions. Cornerstone Insurance Plc. was adjudged as the ‘Best use of Technology, Insurance Company in 2016. In Nigerian Technology Awards.
 
Their services are technology driven by cutting edge Insurance applications. These services are accessible with ease through the Internet and/or mobile technology.
 
Awards and Recognition
• 1995 – Chartered Insurance Institute of Nigerian (CIIN) Merit Award;
• 1997 - Nigeria Insurers Association (NIA) Distinguished Insurer Award;
• 1999 - National Insurance Commission (NAICOM) Award; for Product Design and Development.
• 2002 – The Nigerian Financial Technology Magazine Awards; for Best Use of IT, in Insurance Services.
• 2013 - The Nigerian CSR Awards; (SERAs) for Best Company in Partnership for Development.
• 2013 - LEAD Africa Awards for Best Insurance Company in Risk Management.
• 2015 – Nigeria Technologies Awards for Best Insurance Company Website of the Year.
• 2015 – Lagos Chamber of Company and Industry Awards for Best Online Insurance
 Company of the Year.
• 2015 - Nigerian CSR Awards; (The SERAs) for Best Company in Community Involvement.
• 2015 – Special Recognition at the International Conference on Islamic Finance for Best Takaful Provider Company of the Year.
• 2016 – Nigerian Risk Awards; for Best Insurance and Pension services.
• 2016 - African Insurance Awards; for Most Innovative Insurance Company.
• 2016 - Nigerian Technology Awards; for Best use of Social Media, Insurance Company.
• 2017 - Nigerian Technology Awards; for Best use of Technology, Insurance Company.
• 2017 - Nigerian Technology Awards; for Best Insurance Company website.
• 2018 - Africa Quality Congress for Africa Most Outstanding Quality Life Insurance Company of the Year.
• 2019 - Nigeria Media Nights Awards; for Most Consistent and Reliable Insurance Company
 Of the Year.
 
BOARD OF DIRECTORS
·      Segun Adebanji -Chairman
·      Ganiyu Musa- Managing Director/CEO
·      Steve Iwenjora- Director
·      Anthony Egbuna-non executive Director
·      Elizabeth Ngozi Amadiume- non executive independent Director
·      Ekwunife Okoli-non executive director
·      Tokunbo Bello-E.D technical/operation
·      Chidiebere Nwokeocha- E.D institutional business