Linkage Assurance, Cornerstone explain delay in filing Q1 results

ENG RAHAMAN

1 month ago

Two insurance companies – Linkage Assurance Plc and Cornerstone Insurance Plc – have in different notices explained the delay in filing their results for the first quarter (Q1) ended March 31, 2025.

Linkage Assurance Plc in a May 9 notice informed its shareholders and the public that, in accordance with Rule 1.1.4 of the NGX Rulebook on the Filing of Accounts and Treatment of Default Filing, the company was unable publish its Unaudited Financial Statements (UFS) for the first quarter ended March 31, 2025 (Q1 UFS 2025).

“The delay in filing the Q1 UFS 2025 is due to the ongoing review of the Audited Financial Statements for the year ended December 31, 2024 (AFS 2024) by the Company’s primary regulator, the National Insurance Commission (NAICOM). The Q1 UFS 2025 will be filed upon NAICOM’s approval of the AFS 2024.

“The company apologises for the delay and assures our esteemed shareholders and the public that the necessary resources have already been deployed to ensure the timely release of the AFS 2024 and the Q1 UFS 2025,” Linkage Assurance said.

Also, Cornerstone Insurance Plc in a May 7 notice informed its shareholders and other stakeholders, of the delay in filing and publication of its Unaudited Financial Statements for the first quarter ended March 31, 2025 (Q1 UFS 2025) as required by the Nigerian Exchange Limited (NGX) and the Securities and Exchange Commission (SEC) within the regulatory timeline of April 30, 2025.

“The delay in filing the Q1 UFS 2025 is due to the ongoing review of the Audited Financial Statements for the year ended December 31, 2024 (AFS 2024) by the Company’s primary regulator, the National Insurance Commission (NAICOM) and upon NAICOM’s approval of the AFS 2024, the Company will file the Q1 UFS 2025, along with the AFS 2024.

“The Company hereby apologises for this delay and assures stakeholders of its commitment to ensuring the submission and publication of the AFS 2024 and Q1 UFS 2025 on or before the 16th of May 2025,” Cornerstone Insurance said .

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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