Sunday, September 28, 2025
27.2 C
Lagos

Consolidated Hallmark Insurance Reports Total Assets of N9.4bn

Mr. Eddie Efekoha
Managing Director/CEO
Consolidated Hallmark Insurance Plc

Foremost underwriting firm, Consolidated Hallmark Insurance (CHI Plc) has reported a 108% leap in its profit for the financial year ended 31stDecember, 2017.

In its results, which were submitted within the regulatory timelines and recently approved by all regulators, including the capital market, the company posted a Profit After Tax of N406,205,406 when compared with the N194,987,845 of the 2016 Financial Year.

Also, Profit Before Tax grew by 74% from N368,133, 129 in 2016 to N641,052,022 in 2017.

Further details of the results made available to shareholders of the company show appreciable progress in investment activities as well. Income from this arena grew from N472.3 million to N796.2 million in 2017. Meanwhile, the Total Assets of the company have risen by 27% from the N7.44 billion of 2016 to N9.49 billion.

Revenue reported for the period through Gross Premium Written was N5.680 billion, while a Net Underwriting Income ofN4,053,742, 495 was recorded. The company continues to fulfil its obligations through prompt claims settlement as gross amount paid out in this regard during the year under review was N3.354 billion.

The positive result is an affirmation of the recent assurance by the Managing Director of the company, Mr. Eddie Efekoha to shareholders that they should expect more returns in the nearest future from Consolidated Hallmark Insurance even as recent capacity expansion and growth initiatives will help to grow revenue.

Plans are already afoot to hold the Annual General Meeting, where in line with its policy of rewarding shareholders for their steadfastness, dividend payment will be proposedto shareholdersfor approval.

CHI Plc has paid dividends seven times in the last ten years.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

NAICOM Inaugurates 2025 Recapitalisation Committee to Achieve $1tn Economy Target

The National Insurance Commission (NAICOM) has constituted a 2025...

NCC, Stakeholders Tackle Rural Connectivity Challenges

The Nigerian Communications Commission (NCC) has collaborated with the...

Polaris Bank Wins SERAS Award, Africa’s Sustainability/CSR Recognition

Polaris Bank over the weekend, added yet another feather...

UNDP @ 50: ‘World Must Step Up to Beat Poverty by 2030’

Meeting the Sustainable Development Goals (SDGs) is only possible...

Ecobank Nigeria @ 40: Group Unveils N60m in Cash Rewards Program for Customers

Ecobank Nigeria, a subsidiary of the leading pan-African banking...

NCC: ‘No Invalid 95.7m SIM Data, Verification is a Continuous Exercise’

The Nigerian Communications Commission (NCC) has re-assured Nigerians that...

Moniepoint Seeks More Investment in STEM Education in Nigeria

L-R Board Member, Tosin Eniolorunda Foundation, Oyinlola Eniolorunda; Israel...
spot_img

Related Articles

Popular Categories

spot_imgspot_img