Consolidated Hallmark Insurance Reports N10.5 Billion Gross Premium

At the end of the 2021 financial period, Consolidated Hallmark Insurance Plc’s gross written premium rose to N10.5 billion

This was revealed by Obinna Ekezie, the Chairman, Board of Directors of the company, during the company’s 27th annual general meeting in Lagos.

“The financial year under review was again another success story by your company, despite the persisting challenges in the operating environment. This has helped to ensure our unbroken streak in profitability.

“Both the top and bottom lines recorded growths as we generated an all-time high gross premium written of N10.5billion.

"When compared with the N9.8billion recorded in the corresponding period of 2020, this represents a growth of 7.4 per cent", he said.

He further explained that the profit before tax grew to N971.7 million from N772.6 million in 2020, while profit after tax grew by 17 per cent, from N678.0 million in 2020 to N790.6 million in 2021, adding that the company created additional value during the year by growing the Group’s total assets from N 14.3 billion in 2020 to N15.7 billion in 2021, a growth rate of approximately 10 per cent.

According to him, the company was presenting a final dividend of N216.8m, translating to two kobos per share.

“Having paid an interim dividend of the same figure earlier, the total dividend we wish to pay for the 2021 financial year now amounts to N433.6 million or four kobos per share,” he said.

Eddie Efekoha, the Group Managing Director/ Chief Executive Officer, said this year marked the company's 15th year of seamless operations.

“The journey which started in 2007 following the insurance industry’s consolidation has been one of the mixed fortunes for us all as operators, in view of the challenging operating environment.

"This is another year of stock-taking– to reflect on where we are coming from and how we have fared.

“We have grown from one company underwriting general business & special risks only in 2007 to a company 15 years after with subsidiaries in micro life assurance, health management, lending, investments, assets financing & other financial services.”