The National Insurance Commission (NAICOM) has confirmed that Cornerstone Insurance Plc and its subsidiary, FIN Insurance Company Limited, have successfully satisfied the recapitalisation mandates outlined in the Nigerian Insurance Industry Reform Act 2025. This achievement was formalised during a certificate presentation ceremony held in Abuja on Tuesday, attended by NAICOM Commissioner Olusegun Ayo Omosehin and other senior officials.
Stephen Alangbo, the Managing Director of Cornerstone Insurance, noted that this regulatory milestone underscores the firm’s robust financial health and its readiness to manage increased risk profiles. He highlighted that the company intends to leverage this stable capital base to enhance digital accessibility and improve service delivery across its broader group, which includes Hilal Takaful Insurance Limited.
By securing this compliance, the group strengthens its market standing and ability to support its client base. The management team credited the success to the persistent trust of their shareholders, brokers, and customers, pledging that ongoing technological investments will remain a priority to maintain competitive service standards in the shifting Nigerian insurance landscape.
