Cornerstone Insurance Paid N4.5bn Claims In 2022

Date:

May 23, 2023.

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Azonuchechi Chukwu.

Cornerstone Insurance Plc has paid a total N4.5 billion genuine claims in 2022, Mr Ganiyu Musa, the Group Managing Director/CEO of the company has said.

He disclosed this in Abuja during an interactive session with insurance brokers. He also said Cornerstone Insurance has never defaulted on genuine claims.

“We have never defaulted in our claims and other obligations. For claims that are valid, we haven’t delayed for a day to pay. We are lucky we have a healthy and liquid balance sheet that enables us to settle our claims as at when due,” he stated.

“The N4.5 billion claims we have paid is just for the 2022 financial year,” he stated further.

Speaking on rate cutting in the industry he said, “As an industry we have deviated from the basics of our profession. We have all collectively driven insurance rates to levels that are not sustainable while we are suffering.

“Profitability in the industry is below par comparable to what you have in the other arms of the financial services sector.”(www.naija247news.com).

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247newshttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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