Yemisi Izuora
Cornerstone Insurance plc has been named as 2025 Champion Newspapers’ Insurance Company of the Year.
On the heels of this unveiling is the confirmation of Prince Babatunde Adeleke Oguntade as Insurance Personality of the Year.
Prince Oguntade is the immediate past president of the Nigerian Council of Registered Insurance Brokers (NCRIB) which is the umbrella body of all licensed insurance brokers in the country.
Prince Oguntade ranks among insurance brokers usually described as living ancestors on the basis of their deep knowledge and contributions to the growth and development of insurance fraternity.
Stakeholders in Nigeria’s insurance industry are already commending Cornerstone Insurance Plc’s emergence as Champion Newspapers’ 2025 Insurance Company of the Year describing the award as a testament to the company’s unwavering commitment to excellence.
The prestigious annual Champion Newspapers’ award came in recognition of practitioners and companies’ outstanding performances, their innovative strategies, and commitment to excellence in the Nigerian and the Diaspora. The award is not just recognition of companies’ financial prowess, but also their innovative approaches to services.
Prince Oguntade as a practitioner and Cornerstone Insurance Plc as an institution fit into the mold of those worthy to be celebrated.
“I am elated; this is the icing on the cake particularly having served meritoriously; let me be modest, at NCRIB as president and after pausing my insurance career in the last 42 to 43 years. It is a worthy achievement for me to receive this kind of award and l am happy that it is coming at this time”, Prince Oguntade had observed.
Under the present leadership of Mr Stephen Alangbo as the Group Managing Director and Chief Executive Officer, Cornerstone Insurance has been doing well, winning several awards, including Nigeria’s Most Innovative Insurance Company Award 2025 and Best Insurance Company – Shareholder Returns at the 2025 Business Day’s Banks and Other Financial Institutions (BAFI) Awards.
With a customer-centric approach, cutting-edge technology, and a team that is passionate about delivering value beyond expectations, Cornerstone Insurance has remained committed to its core values of integrity, empathy, professionalism, innovation, and team spirit.
Receiving the Management of Champion Newspapers in his office in Lagos where the award letter was officially presented to the company, Mr Stephen Alangbo said the award affirms the company’s commitment to trust in the last 35 years.
The proclamation tallies with the submission of Champion Newspapers’ Insurance Personality of the Year award winner Prince Babatunde Oguntade who is the Managing Director and Chief Executive Officer of Lectern Insurance Brokers Limited when he admitted that his choice for the award comes as an acknowledgment his dedication to the nation’s insurance industry as a practitioner of over four decades but more importantly as a parting gift to his two year services as the 22nd president of the 64 year old NCRIB.
Managing Editor of Champion Newspapers Mr Kelvin Egerue, described Prince Oguntade as the man worthy of the honour in all its ramifications pointing to his charismatic leadership style and accomplishments when he served as president of the NCRIB.
On his part, Mr Stephen Alangbo said that Cornerstone Insurance will continue to partner with major stakeholders in the nation’s insurance landscape especially the media in the sincere efforts at making the industry more impactful to the economy at large. This is even as he noted that Cornerstone Insurance will soon be celebrating its 35 years anniversary.
“The number two is that our result is coming out top line. The growth was significant. We will also be having few events from next week. We achieved few significant things that we will like the public to know about”, he revealed.
According to him, Cornerstone Insurance recently acquired the annuity portfolio of Niger insurance. “We are going to get the press to also understand the annuity portfolio of LASACO Insurance. We are going to celebrate the annuitant with the Exchange. The MD of Classical will be there, transferring the portfolio to Cornerstone.
“So the entire retirees that used to be with Classical will now come to Cornerstone. In addition to that, we are in the period of capitalization,” he said.
Speaking further, he maintained that his company is very open to partner with any of the insurance companies that will not be able to recapitalize.
“We are already talking with some companies; maybe one or two may materialize. So these are things that we want to bring to our stakeholders in the media section.
“In 2024 we achieved top line of N32bn. In 2023, we moved from N25bn to about N30bn 2024. In 2025, so the Board gave us, N40bn to achieve. So we are supposed to move from N30 billion to N40bn but at the end of 2025 we achieved N53bn which is very significant.
“So we had as much as N20 billion to our top line last year. And that for me is worth celebrating. We appreciate Champion Newspapers for this award, for recognizing us that we are doing something, we are very happy. Thank you for believing in us. Oh yes, your finding is correct. And I will tell you, there are many, even the regulator send people to us to say, if you want a reference, go to Cornerstone. So you are very correct, and it’s good”, he concluded.
Earlier, Group Managing Director and Editor-in-Chief of Champion Newspapers Limited, Dr. Nwadiuto Iheakanwa, said had noted that the award on Cornerstone Insurance was a product of the painstaking selection of its Board of Editors.
“It is our modest way of recognizing organizations and leaders in both public and private sectors of the economy, who have made greater sacrifice in ensuring that the fundamental objectives and ideals of our nationhood are sustained as well as promoting corporate governance and humanitarian services.
“On all scores, our findings, largely corroborated by that of credible independent assessors, attest the fact that Cornerstone Insurance Plc has not only emerged a dominant player in the Insurance sector but serves as a model in terms trust, innovation and support to the growth of the nation’s economy. I am very happy that this year we are celebrating you. I know in the past we have seen that you have also won so many awards.
“And we are also excited that Nigerians are beginning to understand the importance of insurance. Right from the market woman they would like to buy; maybe insurance for their cars or buy for their businesses or property insurance, health insurance, maritime. It goes on and on and on. So sir, I want to say congratulations. You have done something others have not done before, and that is why we are here to be the best among competitive market. There is a lot that you are doing, and we are so happy to celebrate you” she said.