Cornerstone Insurance Insight: Strengthening retirees’ confidence with annuity
Executive Director, Technical Operations, Mr. Peter Ekwueme
Nike Popoola
For many retirees, annuities represent stability, certainty, and peace of mind, a guaranteed stream of income that provides financial security long after active employment ends. Amid rising living costs and ongoing economic uncertainty, annuities remain one of the most reliable tools for sustaining post-retirement livelihoods.
It is against this backdrop that the insurance industry regulator, the National Insurance Commission (NAICOM), approved the transfer of Niger Insurance’s annuity portfolio to Cornerstone Insurance Plc, a move aimed at ensuring continuity, safety, and sustained confidence among policyholders.
Speaking at an assurance forum organised for annuity retirees in Lagos, the Executive Director, Technical Operations, Mr. Peter Ekwueme, said the regulator’s intervention was designed to reassure Nigerians that insurance remains a safe and dependable financial choice.
“The regulator must give comfort to Nigerians and reaffirm that taking an insurance policy is safe,” Ekwueme said. “That is why the portfolio was transferred to an insurance company the regulator has confidence in. The regulator will always be there to support policyholders.”
He explained that Cornerstone Insurance’s proven capacity in underwriting life insurance and annuity business played a central role in securing regulatory approval. Over time, the company has built the expertise, systems, and best practices required to manage annuity portfolios effectively.
Beyond technical capability, Ekwueme highlighted Cornerstone Insurance’s strong financial position, trusted reputation, and customer-focused service culture as key sources of assurance for retirees.
“Our reputation, financial strength, and service delivery give retirees the confidence they need. The quality of our board and management was also carefully assessed before the transfer,” he said.
He added that Cornerstone Insurance is pleased to take on the annuity portfolio and remains open to acquiring additional insurance portfolios beyond annuities as part of its long-term growth strategy.
