Cornerstone Insurance Plc has assured annuitants of its financial stability and long-term capacity to meet pension obligations, reaffirming its commitment to trust, accountability and consistent service delivery to retirees across the country.
This reassurance was delivered during the recently held Annuity Forum in Lagos, where the company’s Chief Executive Officer/Group Managing Director, Mr Stephen Alangbo, engaged annuitants, regulators, industry stakeholders, and the media in an interactive setting.
The forum, designed to strengthen relationships and encourage open dialogue, featured health screenings, entertainment, games, dance sessions, gift presentations, and light refreshments. Beyond the festivities, the gathering created an opportunity for meaningful conversations around service improvement, customer satisfaction, and Cornerstone’s continued leadership within Nigeria’s annuity market.
Addressing participants, Alangbo highlighted the company’s financial resilience and long-term preparedness to meet its obligations to policyholders.
He said, “Our annuitants represent the trust our customers continue to place in us, the commitment of our people, and the strength of our vision. We are building a future-ready business, one that remains relevant to individuals, families, and businesses across Nigeria.”
He further announced that Cornerstone Insurance Plc has officially assumed responsibility for the annuity payments of former Lasaco Assurance Plc customers, following regulatory approval. This development follows the successful takeover of annuity obligations from Niger Insurance Plc in the previous year, reinforcing Cornerstone’s growing footprint in the annuity segment.
Lasaco Assurance Plc had earlier, in September 2025, disclosed its intention to transfer its annuity portfolio to Cornerstone Insurance Plc. The move formed part of a strategic restructuring initiative aimed at improving operational focus and overall efficiency.
Expressing confidence in the transition, Alangbo welcomed the new annuitants and reiterated the company’s readiness to expand its portfolio further where opportunities align with its growth objectives.
“Cornerstone is well-positioned and financially strong. We are ready to take on more annuity portfolios, and where necessary, we will communicate further developments to annuitants and the public,” he said.
According to him, the acquisition strengthens public confidence in the insurance sector while reinforcing Cornerstone’s dedication to safeguarding the welfare of retirees and long-term policyholders.
The CEO also addressed concerns surrounding the Nigerian Insurance Industry Reform Act 2025, which mandates recapitalisation across the sector. He assured annuitants of the company’s stability and preparedness.
“Subject to confirmation from NAICOM, Cornerstone Insurance Plc does not need to raise additional capital under NIIRA 2025. We are solid, we are transparent, and we are fully able to continue paying your claims without interruption,” he said.
While appreciating retirees, guests, and members of the press for their continued trust, Alangbo reaffirmed the organisation’s customer-first philosophy, “At Cornerstone Insurance Plc, we are not like any other insurance company. We are unique. We are transparent. We keep our promises, and your trust is the foundation of everything we do.”
Cornerstone Insurance Plc has been operating for more than 30 years, and its subsidiaries include FIN Insurance and Hilal Takaful.
