Thursday, May 13, 2021

Cornerstone Insurance reports N866 million loss for Q2

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Emman Tochi
Emma Tochi is Naija247news Media Northern Bureau Chief, he's based in FCT Abuja. He overseas the northern operations of this business media

Cornerstone Insurance plc in its financial report for the half year recorded NGN866.5 million loss compared to NGN1.1 billion profit recorded in the same quarter financial year 2016.

According to the balance sheet, the insurance company’s premium income was higher at NGN4.5 billion in contrast to NGN4.0 billion in the previous year while net premium was NGN2.8 billion against NGN2.5 billion in the year before.

Cornerstone Insurance plc said its total assets for the period NGN22.1 billion compared to NGN21.4 billion in the year 2016 while total liabilities was NGN12.7 billion against NGN11.2 billion in the year before.


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