₦airaland Forum

Cornerstone Insurance Plc has officially commenced a major corporate unbundling to separate its composite operations. This move directly complies with structural mandates under the Nigerian Insurance Industry Reform Act 2025.
The transition splits general and life insurance into standalone operations using a Court-Sanctioned Scheme of Arrangement under Section 711 of CAMA 2020.
The New Holding Company Group Structure
Upon full completion—expected by the third quarter of 2026—the group will transition into a holding company model:
• Cornerstone Holdings Plc: The renamed parent entity, which will remain actively listed on the Nigerian Exchange Limited (NGX).
o Cornerstone Life Assurance Limited: A wholly owned subsidiary absorbing all existing life insurance assets, liabilities, and policies.
o Cornerstone General Insurance Limited: The non-life/general insurance business, created by renaming the group's 96.68%-owned subsidiary, FIN Insurance Company Limited.
o Hilal Takaful Nigeria Limited: The group’s dedicated Islamic insurance entity, which continues operations under its current name.
Critical Impacts and Protections for Policyholders
• Zero Operational Disruption: Existing coverage, active policies, and claims servicing will continue seamlessly without interruption.
• Valid Policy Terms: The exact terms, legal protections, and conditions of all existing insurance contracts remain fully in force and legally binding.
• Complimentary Document Inspection: Policyholders are invited to review physical copies of the official Scheme documents free of any administrative charge at the firm's head office and branches nationwide through Friday, 3 July 2026.
Regulatory Approvals and Voting Timelines
1. The unbundling has successfully cleared its initial regulatory hurdle, receiving an official "No Objection" clearance from the Securities and Exchange Commission (SEC). To conclude the restructuring, the firm is proceeding through its final administrative phases:
2. Court-Ordered Meeting: Following a Federal High Court mandate, a virtual meeting for all ordinary shareholders will be hosted on 26 June 2026 at 11:00 a.m. to vote on the asset transfers.
3. Judicial Sanction: Once shareholders approve the resolution, the transaction will go back to the Federal High Court for final legal validation.
4. Separate Corporate Dividend: This restructuring runs completely parallel to standard corporate business. A separate final dividend of ₦0.28 per share for FY2025 will be voted on at the formal AGM on 20 July 2026.

Cornerstone Insurance Plc will host its virtual Court-Ordered Meeting on 26 June 2026 at 11:00 a.m. to vote on the corporate unbundling. Separately, the company has announced a formal Annual General Meeting (AGM) for 20 July 2026 at the Shell Hall, MUSON Centre, Onikan, Lagos.
June 26 Court-Ordered Meeting & Voting Resolutions
Shareholders will review and vote on the formal Scheme of Arrangement Document. The critical sub-joined resolutions on the floor include:
• Asset & Liability Transfer: Authorizing the carve-out of life insurance operations into Cornerstone Life Assurance Limited and non-life operations into FIN Insurance Company Limited.
• Holding Company Transition: Renaming the listed parent entity to Cornerstone Holdings Plc and empowering directors to adopt regulatory or judicial modifications required by the Securities and Exchange Commission (SEC).
Separate FY2025 Final Dividend Details
Running independently of the restructuring, the Board of Directors has declared a final cash dividend of ₦0.28 per ordinary share for the financial year ended 31 December 2025.
Corporate Milestone Target Date
Qualification Date Thursday, 2 July 2026
Register Closure Period Friday, 3 July to Monday, 6 July 2026 (inclusive)
AGM Voting & Approval Monday, 20 July 2026
Electronic Payment Date Wednesday, 22 July 2026
Mandated Action Steps for Investors
1. Secure Your Payout: You must own shares before the close of business on 2 July 2026 to be eligible for the ₦0.28 dividend.
2. Verify Mandate: Ensure your bank details are actively registered with the company's registrar to facilitate electronic payment on 22 July 2026.
3. Inspect Corporate Scheme: Download full explanatory statements via the Cornerstone Corporate Portal or review physical documents at the head office through 3 July 2026.

The unbundling and separation process for Cornerstone Insurance Plc is officially scheduled for completion in the third quarter of 2026.
Key Timelines for Policyholders
• Free Document Inspection: You can inspect the Scheme of Arrangement documents for free until Friday, 3 July 2026.
• Inspection Hours: Visit any corporate branch office on business days between 9:00 a.m. and 5:00 p.m.
• Policy Validity: All terms, conditions, and active protections of your existing insurance policies remain completely valid and in force throughout the transition.
Structural Division of Assets & Policies
The composite insurance business is being legally split into two specialized, standalone subsidiary arms:
• General Insurance Business: All eligible non-life assets, liabilities, and existing general policies transfer to FIN Insurance Company Limited.
• Life Insurance Business: All eligible life assets, liabilities, and existing life policies transfer to Cornerstone Life Assurance Limited.
Corporate Contact Channels
If you have specific questions regarding how your policy will transfer, you can contact the customer care channels directly:
• Email: enquiries@cornerstone.com.ng
• Phone: 020 1280 6500

The Federal High Court of Nigeria has officially ordered a virtual meeting of the ordinary shareholders of Cornerstone Insurance Plc under Suit No. FHC/L/CS/965/2026. The session will hold online on 26 June 2026 at 11:00 a.m.
Core Restructuring & Carve-Out Resolutions
Shareholders will vote by poll on ten formal sub-joined resolutions to unbundle the composite firm:
• General/Non-Life Asset Carve-Out: All admissible assets, liabilities, undertakings, real properties, and contractual obligations relating to the non-life business will transfer directly to FIN Insurance Company Limited.
• Life Insurance Asset Carve-Out: All admissible assets, real properties, and liabilities relating to the life business will transfer directly to Cornerstone Life Assurance Limited.
• Litigation and Legal Claim Transfers: All active or pending lawsuits and legal claims linked to the respective operations will be continued by or against the corresponding subsidiary after judicial sanction.
• Holding Company Transformation: The listed parent company will change its name to Cornerstone Holdings Plc, altering its legal objects clause to transition from an operating insurer to a non-operating holding company.
Administrative Guidelines and Voting Deadlines
Action Item Deadline / Requirement
Register Closure Period Closed from 18 June 2026 to 19 June 2026 to fix attendance eligibility.
Written Question Submission Submit via email to legal@cornerstone.com.ng by 24 June 2026.
Proxy Form Lodgment Submit completed forms to the Registrar at least 24 hours prior to the meeting.
Virtual Livestream Link Accessible on the Cornerstone Corporate Website.
Statutory Passing Majority Requires a majority representing at least three-quarters (75%) in value of members voting.
Court-Appointed Meeting Leadership
The Federal High Court has designated specific executive officers to lead the proceedings:
1. Mr. Afolabi Balogun (Designated Meeting Chairman)
2. Mr. Stephen Alangbo (Alternate Meeting Chairman)
The elected Chairman is legally mandated by the court order to formally report the poll outcomes back to the Federal High Court for final judicial sanction.

Cornerstone Insurance Plc reported a strong Profit After Tax (PAT) of ₦11.7 billion for the audited financial year ended 31 December 2025. The performance highlights robust underlying metrics, though the final bottom line faced a high comparative base from the prior year's significant foreign exchange-related fair value gains.
Key Financial Performance Metrics
• Top-line Revenue Expansion: Insurance revenue climbed by 33.6% to reach ₦51.7 billion, up from ₦38.7 billion in FY2024, showing strong business generation across all operational desks.
• Surge in Underwriting Performance: The core insurance service result experienced a dramatic 527.3% turnaround, skyrocketing to ₦13.5 billion compared to just ₦2.2 billion in the previous fiscal year.
• Solid Balance Sheet Growth: Total shareholders' funds rose by 20.4% to close the year at ₦71.9 billion.
• Robust Capital Safety Buffer: The group maintained an exceptional solvency margin surplus of ₦33.6 billion, positioning its financial buffer substantially above the legal minimum requirements mandated by NAICOM.
Strategic Rationale for the HoldCo Transformation
The ongoing transition into a holding company structure serves targeted commercial and regulatory goals:
• Regulatory Compliance: Aligns directly with the National Insurance Commission’s (NAICOM) directive to unbundle legacy composite insurers into separate life and general insurance businesses.
• Deepening Operational Scale: Merging the general insurance operations with Hilal Takaful Nigeria Limited will optimize internal corporate efficiency and expand customer market access.
• Optimized Resource Management: The parent holding framework enhances long-term strategic adaptability, clarifies divisional performance tracing, and streamlines asset capital allocation across the business units.
Investor Relations Contact Matrix
For institutional investment inquiries or specific detail requests regarding the 2025 disclosures, stakeholders can contact the designated team directly:
• Primary Corporate Desk: enquiries@cornerstone.com.ng
• Dedicated Relations Officer: Cordelia Ekeocha
• Direct Phone Channel: +234 812 871 9169
• Direct Email Channel: cekeocha@cornerstone.com.ng

megawealth01:
Someone called me to tell me that my late friend’s wife inflated her kids school fees as I have been the one paying since 3 years that my frd departed…..it was one of the the promises I made.

I felt bad because it was not that I have so much myself.

So she reminded me of the balance last week as I already gave her the permission to remind me.

When she did, I sent her the balance.

I was still having a mixed feeling as I thought the source that told me she inflated the school fee might be saying the truth or not.

So somehow, I got the school contact and then called the school to inquire.

The school gave me the fees for each class and I found out that I was under paying the school fee by 17k.

Immediately, I called her and asked that I want to see her. We met and I asked why she didn’t tell me the exact school fee of her children. She was surprised and to calm down her curiosity, I explained that I reached out to her children school and the reason why I go to know.

So she explained to me that the school fees were increased but she didn’t want to bother me since I was already doing so much.

Over there, I feel so emotional and wonder why someone would have called to tell me she was inflating the children’s fee when she was not.

It would be unfair of me if I didn’t tell her I thought. So I told her it is her elder sister who lives together with them that called me.

I showed her the number, time she called, and the text she sent.

She bursted into tears. She could not say any words.

But why will someone do that to her own sister? She didn’t even pity how she struggles to take care of the kids and bring them livelihood.

For the terms I under paid her, I balanced up.

God bless every struggling mother. May your enemies be all put to shame. 🙏


Oluwanishola Akeju

This na why blessings overflowing dey your life, keep it up.

https://open.spotify.com/episode/4ea6imiOptPEtCgV8TfSuu

A few stocks on my radar in today's trading session

https://www.youtube.com/watch?v=6X-U75TatZc?si=aHEsl964QZ568u3A

A few stocks on my radar in today's trading session on the NGX

Mandem05:
This na why blessings overflowing dey your life, keep it up.

It's someone else's story.

essentialone:
Cornerstone Insurance Plc reported a strong Profit After Tax (PAT) of ₦11.7 billion for the audited financial year ended 31 December 2025. The performance highlights robust underlying metrics, though the final bottom line faced a high comparative base from the prior year's significant foreign exchange-related fair value gains.
Key Financial Performance Metrics
• Top-line Revenue Expansion: Insurance revenue climbed by 33.6% to reach ₦51.7 billion, up from ₦38.7 billion in FY2024, showing strong business generation across all operational desks.
• Surge in Underwriting Performance: The core insurance service result experienced a dramatic 527.3% turnaround, skyrocketing to ₦13.5 billion compared to just ₦2.2 billion in the previous fiscal year.
• Solid Balance Sheet Growth: Total shareholders' funds rose by 20.4% to close the year at ₦71.9 billion.
• Robust Capital Safety Buffer: The group maintained an exceptional solvency margin surplus of ₦33.6 billion, positioning its financial buffer substantially above the legal minimum requirements mandated by NAICOM.
Strategic Rationale for the HoldCo Transformation
The ongoing transition into a holding company structure serves targeted commercial and regulatory goals:
• Regulatory Compliance: Aligns directly with the National Insurance Commission’s (NAICOM) directive to unbundle legacy composite insurers into separate life and general insurance businesses.
• Deepening Operational Scale: Merging the general insurance operations with Hilal Takaful Nigeria Limited will optimize internal corporate efficiency and expand customer market access.
• Optimized Resource Management: The parent holding framework enhances long-term strategic adaptability, clarifies divisional performance tracing, and streamlines asset capital allocation across the business units.
Investor Relations Contact Matrix
For institutional investment inquiries or specific detail requests regarding the 2025 disclosures, stakeholders can contact the designated team directly:
• Primary Corporate Desk: enquiries@cornerstone.com.ng
• Dedicated Relations Officer: Cordelia Ekeocha
• Direct Phone Channel: +234 812 871 9169
• Direct Email Channel: cekeocha@cornerstone.com.ng

Thanks for the posts.

isaacosas01:
Why does the NGX gate price formation on volume? Why can’t we run like the NYSE and LSE where any genuine trade updates the last price immediately?

True, and why do we have the daily 10%, they should allow every stock find it's true value everyday

DREAMT OANDO DELIVERED

Do WHATEVER you WANT with this INFORMATION!.


BARGAIN HUNTERS TAKE NOTE!

PETERiCHY:
Based on G7 meeting is like Iran won't agree to the deal. that's why oil prices started rising moments ago.

Meanwhile NSEMPA mood rightnow

Our INSTINCT has been CONFIRMED moments ago BREAKING news from BLOOMBERG says

"The US and IRAN postpone the start of their talks over a permanent peace deal while Israel struck Lebanon overnight"


BARGAIN HUNTERS TAKE NOTE!

https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Rebound-as-US-Iran-Peace-Talks-Are-Postponed.html


Oil prices began to climb once again in early Asian trade on Friday due to uncertainty over the outcome of peace talks between the United States and Iran after Switzerland confirmed the talks had been postponed.

At the time of writing, Brent crude had climbed back above $80 per barrel while West Texas Intermediate had risen to $76.28.

PETERiCHY:
DREAMT OANDO DELIVERED

Do with this information whatever you wish.


BARGAIN HUNTERS TAKE NOTE

Wale go still give you BP. The one he showed you in 2014 never clear for ya eyes

I love this Seplat.

They don't waste time in paying dividend. This will just be enough to cruise my family for Father's Day on Sunday

Children's Day - Fathers spends.

Mother's Day - Fathers spends.

Father's Day - Fathers still spends

Dream analysis activated 😀

PETERiCHY:
DREAMT OANDO DELIVERED

Do WHATEVER you WANT with this INFORMATION!.


BARGAIN HUNTERS TAKE NOTE!

You want to dump this OANDO at good profits

PETERiCHY:
https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Rebound-as-US-Iran-Peace-Talks-Are-Postponed.html


Oil prices began to climb once again in early Asian trade on Friday due to uncertainty over the outcome of peace talks between the United States and Iran after Switzerland confirmed the talks had been postponed.

At the time of writing, Brent crude had climbed back above $80 per barrel while West Texas Intermediate had risen to $76.28.

WALE fit release OANDO from his base chain

Agbalowomeri:
Wale go still give you BP. The one he showed you in 2014 never clear for ya eyes

My fears na Tony 😞

jonnysessy:
I love this Seplat.

They don't waste time in paying dividend. This will just be enough to cruise my family for Father's Day on Sunday

Children's Day - Fathers spends.

Mother's Day - Fathers spends.

Father's Day - Fathers still spends

Dinng!

Why is CS order book still showing yesterday's activities?

South Africa... Yesterday una get narrowly

KarlTom:

Femi now controls 20.42% equity shares of First Bank....
Above 100 still beckoning once papa is ready....😊

** Meanwhile, accumulations is still ongoing in NASCON....
I hope it's not Ote$$ that's taking position here as well....

We need to know who's behind the 70M units of DANGCEM crossed yesterday and those accumulating NASCON....
Something seems fishy here...

I am curious, what happens when thousands of people buy micro-shares of a company and die without either dematerilising it or letting their family know. Are those shares just lost forever? Eg, the thousands of parents who bought bankIPOs during the stock boom of 2006.

yMcy56:
Femi now controls 20.42% equity shares of First Bank....
Above 100 still beckoning once papa is ready....😊

** Meanwhile, accumulations is still ongoing in NASCON....
I hope it's not Ote$$ that's taking position here as well....

We need to know who's behind the 70M units of DANGCEM crossed yesterday and those accumulating NASCON....
Something seems fishy here...