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Tag: Cornerstone

  • SanlamAllianz, Cornerstone, others throw weight behind IMT 4.0

    SanlamAllianz, Cornerstone, others throw weight behind IMT 4.0

    The fourth edition of Insurance Meets Tech (IMT 4.0) has garnered strong support from industry leaders, further solidifying the event’s position as the premier platform for exploring the intersection of insurance, technology, and culture.

    Speaking on the significance of this support, Convener of IMT Conferences, Odion Aleobua said the calibre of sponsors and partners for IMT 4.0 reflects the industry’s collective commitment to shaping a future where innovation, digital adoption, and lifestyle relevance are at the heart of insurance. With this level of backing, IMT 4.0 is set to deliver its boldest impact yet.

    With the theme: “Innovating for the New Trybe”, IMT 4.0 will highlight the opportunities for technology-driven insurance models that resonate with today’s customers, especially Millennials and Gen Z.

    A major highlight will be the Executive Dialogue to be led by the Commissioner for Insurance, Olusegun Omosehin, themed “NIIRA: A New Era Beckons”, which will dissect the recently released NAICOM Insurtech Guidelines and their implications for the future of Nigeria’s insurance sector.

    Alongside executive sessions, IMT Redefined will blend culture, lifestyle, and Afrobeats to creatively position insurance as a tool for protecting aspirations, businesses, and everyday living.READ ALSO: Of envy and short memory in Ekiti politics

    The conference will take place at the Balmoral Hall, located at Sheraton Hotel, Ikeja, Lagos.

    Leadway Assurance, Enterprise Life, Cube Cover, and emPLE have signed on as Gold Sponsors, while SanlamAllianz serves as the Official Insurer.

    Cornerstone Insurance joins as the Innovation Partner, and Lasaco Assurance lends its backing as a Bronze Category Sponsor. Complementing these are the Nigerian Council of Registered Insurance Brokers (NCRIB) and the Chartered Insurance Institute of Nigeria (CIIN), both of which have been confirmed as Institutional Partners.

  • Investor holds Topping Out for Cornerstone Towers

    Investor holds Topping Out for Cornerstone Towers

    Cap Phoenix Cornerstone, a joint venture between African Capital Alliance and Cornerstone Insurance Plc, last week, held a topping out to celebrate the completion of Cornerstone Tower, a 12-floor office project, adjacent to the Four Points by Sheraton Hotel in Oniru, Lagos. With this, the Cornerstone Tower has now reached its full height and is scheduled to open for business in the second quarter of next year.

    With lettable space of 12,040 square metres, once completed, this Grade A, ultra-modern office building will boast of eight floors of flexible office space and meeting rooms; four floors of multi-level parking; a reception area and a ground floor café. Besides, the building, which has been certified as a “Green Building,” will rank as one of the country’s real estate developments to be proud of, considering its high technical specifications for installed building services, security and state-of-the-art finishes.

    Capital Alliance Chief Executive Officer, Mr. Obi Nwogugu, revealed that the office spaces are designed with high efficiency and flexibility, and are built with raised floors and suspended ceilings with impressive natural lighting and ventilated spaces, allowing for modular spaces ranging from 200 square meters up to 1,400 square meters on each floor. Besides, he noted that the building’s central location on Victoria Island will provide convenient private and public transport access with direct links to Lekki, Ikoyi and the Lagos Mainland.

    Describing the building’s features further, the Project Consultant, Mr. Roti Delano, said it boasts of secure parking for over 203 cars across the four multi level floors; this is aside the surface parking space, while drivers room is also provided for on every floor.

    Other features of the building, he noted, include two 1000 KVA and one 600 KVA Cummins diesel engine generators; 81 solar panels of 250 W each; two 1000 kva 11/0.415kv 3-phase indoor dry type cast resin step-down transformer with off-load automatic tap changer; energy efficient pumps; sensor motion  lights; four passengers Lifts; 14 passengers high speed elevators; including fire lift. The structure is also equipped with fire fighting systems like sprinklers, wet riser, fire hose reels; fire extinguishers; FM-200, and smoke detectors, among others.

    Also, Cornerstone Towers is fitted with modern security systems, which include 24/7 control centers; IP Closed Circuit Television System (IP CCTV); IP Access Control System and Building Management System (BMS).

    Similarly, in terms of information technology, the building is not lacking. For instance, BCL Construction and Civil Engineering Managing Director, Mr. Roda Fadlallah, explained that to service its telecommunications facility, a well structured cabling system is provided with general services network, including connectivity to the building services like IP CCTV, IP Access control, and Voice communication, Roof Aerial. The IT facilities, he noted, include fiber optic cable for fiber backbone across the various office spaces.

  • Cornerstone assures of commitment to growth

    Cornerstone Insurance Plc is committed to the development of the   industry, notwithstanding the tough economic situation in the country, the Group Managing Director, Ganiyu Musa, has said.

    In a statement in Lagos, Musa, who reviewed the company’s operations in 2016, assured that they will continue to improve on their service delivery.

    He said last year was very challenging not only to the industry, but to other sectors, adding that it was expected because the signs were visible the previous year.

    He noted that quality product development, technology and insurance accessible were some of the company’s focus  aimed at developing the market.

    He said the underwriting firm has 30 branch networks across the three geo- political zones in the country.

    “The company has improved its electronic platform delivery and has also strengthen its distribution channel. It is focusing on strengthening its balance sheet, by acquiring FIN Insurance Company Limited in 2016. The acquisition have placed the Cornerstone brand among the top three insurance companies in the country.

    “The industry has witnessed a rise claims settlement in recent times, with an increase in fraudulent. Nigeria has the cheapest rate on third party and insurers are not charging enough, compared to the claims they pay when risks occur.

    “The year 2017 started on a good note but we may see more visible signs of improvement by third quarter. We are optimistic that businesses would improve as the government continues to introduce structures to move the economy out of the present recession.”

    He praised the efforts of the regulator, the National Insurance Commission (NAICOM) in widening the frontier of Takaful Insurance, adding that the business line remains one of the most thriving amongst the firm’s catalogue of products.

     

  • June 12: Cornerstone of our democracy

    June 12: Cornerstone of our democracy

    All Progressives Congress (APC) National Leader Asiwaju Bola Ahmed Tinubu played an important role in the struggle for the revalidation of the results of the June 12, 1993 presidential election. In this remarks, the former Lagos State Governor sees June 12 as the cornerstone of Nigeria’s burgeoning democracy 

    On this 23rd anniversary of June 12, 1993, we must not only cast our minds back to the events of that period, but we must never forget our patriots who lost lives and limbs in that epochal struggle. Beyond being a watershed, the June 12 election, the annulment and its aftermath remain the cornerstone of our democracy as a people today.

    Because a few courageous ones across the broad spectrum of the Nigerian society formed a coalition and led from the front, the military was unable to get away with its constitutional impunity.

    Fired on by patriotism, resistant of years of oppressive military dictatorship, and willingness to do something about the situation, Nigerians pushed the limits of civil disobedience against tyranny. By so doing, Nigerians pushed the military out, demanding for democratic governance and since then, there has been no looking back.

    The seed of democracy that was sown during the June 12 struggle, of which the late Chief Moshood Kashimawo Abiola remains the spirit and the moving force, is the fruit we now enjoy. Nigerians sustained the fervour and the patriotic disposition, necessary for a new political culture to take root. However, 16 years after that struggle ended, and the military departed, a new kind of struggle began. With a government of the people, by the people and for the people, the desire for rapid development and a disciplined and accountable leadership became an agenda. In the hands of the past government, led by the Peoples Democratic Party (PDP), Nigerians got a raw deal.

    But again desirous of a change, Nigerians were again galvanised into voting the PDP out and voting in the APC with its message and philosophy of change.

    But beyond the historic mandate given to the All Progressives Congress (APC) is the urgent need to have every citizen as part of the change we want to see. From the streets to the crannies; from the classrooms to the boardrooms; from the lecture halls to the corridor of power, from lawmakers and ministers to leading politicians, this is a season that demands our contribution, requires our sacrifice and seeks that we work together towards building a critical mass that will see to the processes of the change vision now unfolding.

    Nigerians must demand from its leaders, performance and accountability.

    Just like in the moving spirit of June 12, Nigerians must speak up against any form of financial recklessness and corruption in high places, in their states or local administration and wherever this is found. Beyond speaking against and exposing corruption, Nigerians must speak for and in support of the on-going concerted efforts being coordinated by President Muhammadu Buhari.

    The lessons of the June 12 struggle abide and live on. To June 12 we must return to rekindle our love and devotion for democracy and Nigeria.

    We know that no change comes easy and we must be mindful of the fact that the success of the APC led government is the success of all of us.

    On this occasion, I shout out to all my colleagues from the days of the June 12 struggle, encompassing the National Democratic Coalition (NADECO) foot soldiers still alive today, pro-democracy activists, the civil society organisations and the professional bodies, who stood in defence of the democratic rights of Nigerians.

    With the new converts and company that have joined our rank and file, let us again stand guard and be vigilant to ensure that disgruntled elements and the powers of yesterday, who we overthrew with our votes, do not destroy our democracy.

  • Cornerstone, others for awards

    The Nigeria Brand Award, which is in its sixth year, will honour outstanding organisations and individuals.

    Over 100 companies and individuals werer honoured in various categories of the award in previous editions.

    Cornerstone Insurance Plc was nominated for Iconic Brand of the Year in the insurance category while Heritage Bank was nominated as the Most Customer Focused Bank of the Year

    Integrated Corporate Services was nominated as the Best CSR- Driven Human Resources Brand of the Year while Insight Communications have three nominations for the Best Campaign of the Year for Custodian Insurance, Pepsi Long Throat and Techno Phantom 5 Campaigns.

    DKK & Associates was nominated for the Best Campaign of the Year for NLPC Pension, Zenith Pensions was nominated for the Best Pension Custodian of the Year  and First Pensions was for the Most Customer focused Pension Custodian of the Year. Oak Pensions was nominated for the Best Pension Manager of the Year.

    Nominated for various categories of Platinum Awards include Dr. Ken Onyeali Ikpe of MediaCom (Media Icon of the Decade) while Mr. Adedayo Ojo of Caritas Communications (PR Icon of the Decade) and Dr. Josiah Ebhomenye of Market Trends Research (Market Research Icon of the Decade).

     

    The programme which was initially scheduled to hold in April has been shifted to July to enable a new sponsorship partner to be able to collaborate with the organisers of the program. The Keynote speech will be delivered by Mr. Babatunde Adedoyin, National President of the Outdoor Advertising Association of Nigeria and the paper is on “The Strategic Role of Outdoor Advertising practitioners in Building Brands in Nigeria”.

    Governor Abiola Ajumobi of Oyo State was nominated as the Best Governor of the Year for his peoples friendly policies while Governor Aregbesola was nominated as the Children Friendly Governor of the Year.

     

  • Cornerstone, US investors seal deal on housing

    Cornerstone, US investors seal deal on housing

    TO up the ante in real estate sector, Cornerstone Real Estate Limited has entered into a partnership with an American investment firm.

    The firm, Aesbus Knowledge Solutions, which has interests in manufacturing, telecommunications and real estate related businesses, last week sent a high-powered delegation to inspect housing development projects being handled by Cornerstone.

    Aesbus representatives, led by its Chief Executive Officer, Mr. Earl Castor, and one of its directors, Dr. Solomon Olatoye, following tour of Cornerstone’s Oregun Phase II Housing Project in Lagos, expressed satisfaction with the quality of work done on the site. “This is one of the best housing projects, especially in terms of quality of work done, including the finishing aspect, that we have seen during our short visit to Nigeria,’’ the team leader said.

    The partnership also positions Cornerstone to trade in real estate, seeking such services in any part of the US, thereby expanding its operations beyond the shores of Nigeria.

    The Chairman, Cornerstone Real Estate Limited, Mr. Lanre Okupe, hinged the success of the firm on the prudent management of materials and manpower, which has lead to the delivery of high quality products at competitive prices.

    The Oregun housing scheme is one of the several estate development schemes the firm is working on. After completing and selling out the Phase One of the Cornerstone Oregun Phase I Housing Project, works is nearing completion on the Phase II of the scheme, which is being developed on a five-acre land in Ikeja, Lagos. The Phase Two consists of 14 units of various duplex types, comprising two units of three-bedroom detached houses, with one room boys’ quarters; six units of four-bedroom semi-detached houses with one room boys’ quarters and six units of three-bedroom terrace house.

    Okupe explained that each duplex sits on an approximate land area of 350m2-400m2 , comprising an all en-suite four-bedrooms, while the ground floor space area includes the entrance lobby, foyer, main living room, dinning, kitchen, visitors’ toilet, guest room en-suite.

    The first floor space area include the family lounge with balcony, two-bedrooms and the master’s bedroom, spacious living and dining areas with exquisite wood work, well-finished wardrobes and kitchen cabinet as well as P.O.P ceiling. It is fitted with stainless steel aluminum railings, among others. The terrace houses, Okupe said, would also be finished with P.O.P ceiling, stainless steel aluminum railings, well-finished wardrobes and kitchen cabinet, among others.

    Owning a house in the scheme is easy, says the Cornerstone boss. Explaining the procedure, Okupe said payment by intalments is allowed, with 30 per cent down payment while the balance is spread over a year. The duplexes sell for N85 million per unit, while the terrace houses go for N75 million.

    In its over 27 years of operations as housing estate developer, the company has delivered over 10 residential housing estates across Lagos Metropolis and won several awards for delivering qualitative housing projects.

     

  • ‘Nigeria cornerstone of Archos’ operations’

    ‘Nigeria cornerstone of Archos’ operations’

    The Country Manager (Nigeria),  French mobile devices major, Archos Soicete Anonymes,, Ademola Olukotun has said Nigeria will be the cornerstone of the firm’s operations in Africa, adding that a mix of qualitative and expanding infrastructure as well as tremendous growth opportunities makes the country to stand out as preferred investment destination.

    Speaking during the launch of the products of the firm in Lagos at the weekend, he said the firm has operated in other parts of the world, promising to replicate its success story in the country.

    He said: “Archos is the pioneer in the Android Operating System (OS) space with the first ever Android tablets. It has now combined its technical know-how with its creativity to provide a complete range of innovative smartphones and tablets. Archos has a strategic technical close relationship with operating system partner (Google certified). All our Android smartphones have complete access to Google play store and Windows Storetn. Today, we offer our own line of Android tablets and smatrphones as well as a full line of OEM devices.

    “After years of successful consolidation of our presence in Europe, Archos is now in launching its brand in several countries in Africa and the Middle East and Africa. About six months ago, we launched in Egypt and last month, in Senegal. So, Nigeria is a continuation of our African expansion project and coming to to Nigeria has given us an exciting challenge and we are poised and determined to to present Achos tablets phones and connected objects at affordable prices yet with world class quality and aesthetics.

    “A mix of qualitative and expanding infrastructure as well as tremendous growth makes Nigeria very appealing and cornerstone of our strategy.”

  • Cornerstone profit soars by 60 per cent

    Cornerstone Insurance Plc’s profit went up by 60 per cent in the 2013 financial year when compared to 2012.

    The financial report presented during the 22nd Annual General Meeting (AGM) of the company in Lagos showed that its gross premium grew by 15 per cent from N4.6 billion in 2012 to N5.3 billion last year.

    The company’s underwriting result, however, dipped 30 per cent from N1.2 billion in 2012 to N866 million in 2013 as a result of 15 per cent increase in reinsurance expenses, which grew from N1.6 billion in 2012 to N1.9 billion in 2013 and net claim expenses that went up by 18 per cent from N985 million in 2012 to N1.1 billion in 2013.

    A combination of robust investment performance and disciplined control of operating expenses resulted in an increase in profit after tax from N544 million to N870 million.

    Based on this performance, the company recorded 16 per cent growth in the Total Asset from N12 billion to N14 billion.

    The company’s Group Managing Director, Ganiyu Musa while speaking at the AGM stated that the company  will continue to build on the strength of its people and the commitment to core values including strong ethics and innovation that will in turn make it the insurance of choice in the country.

    The Group Chairman, Cornerstone Insurance, Adedotun Sulaiman, said the company believes strongly that insurance remains fragmented and there continues to be a need for consolidation of the industry to fast-track building scale and capacity.

    He said their efforts in this direction have continued through 2013. “We have identified a company with complimentary attributes and values and at this meeting, we therefore, ask for shareholders’ approval to proceed with the business combination,” he said.

    Consequently, the shareholders gave their nod, authorsing the board to acquire 3.3 billion ordinary shares of FIN Insurance, which will make Cornerstone 100 per cent ownership.

  • Cornerstone profit soars by 60 per cent

    Cornerstone Insurance Plc’s profit went up by 60 per cent in the 2013 financial year when compared to 2012.

    The financial report presented during the 22nd Annual General Meeting (AGM) of the company in Lagos showed that its gross premium grew by 15 per cent from N4.6 billion in 2012 to N5.3 billion last year.

    The company’s underwriting result, however, dipped 30 per cent from N1.2 billion in 2012 to N866 million in 2013 as a result of 15 per cent increase in reinsurance expenses, which grew from N1.6 billion in 2012 to N1.9 billion in 2013 and net claim expenses that went up by 18 per cent from N985 million in 2012 to N1.1 billion in 2013.

    A combination of robust investment performance and disciplined control of operating expenses resulted in an increase in profit after tax from N544 million to N870 million.

    Based on this performance, the company recorded 16 per cent growth in the Total Asset from N12 billion to N14 billion.

    The company’s Group Managing Director, Ganiyu Musa while speaking at the AGM stated that the company  will continue to build on the strength of its people and the commitment to core values including strong ethics and innovation that will in turn make it the insurance of choice in the country.

    The Group Chairman, Cornerstone Insurance, Adedotun Sulaiman, said the company believes strongly that insurance remains fragmented and there continues to be a need for consolidation of the industry to fast-track building scale and capacity.

    He said their efforts in this direction have continued through 2013. “We have identified a company with complimentary attributes and values and at this meeting, we therefore, ask for shareholders’ approval to proceed with the business combination,” he said.

    Consequently, the shareholders gave their nod, authorsing the board to acquire 3.3 billion ordinary shares of FIN Insurance, which will make Cornerstone 100 per cent ownership.

  • Cornerstone is FRSC’s partner

    CORNESTONE Insurance Plc has been appointed as the official partner of Federal Road Safety Commission’s (FRSC’s) Decade of Action Project in Zone 2 Command, covering Lagos and Ogun states. The appointment was in recognition of the firm’s strategic thrust of supporting projects capable of bringing enduring benefits to the people.

    The ‘Decade of Action’ 2011-2020 is a global programme launched by the United Nations in over 100 countries including Nigeria to reduce road deaths and injuries across the world.

    In a statement, Head, Brand and Corporate Communication, Zonal Command, Lagos, Mr Ademola Mafikuyomi, acknowledged the command’s challenges in its quest to make the highways safe for motorists and other road users in the state.