L-R: Eddie Efekoha, Managing Director/CEO, Consolidated Hallmark Insurance Plc; Obinna Ekezie, Chairman, and Rukevwe Falana, Company Secretary, during the company’s 23rd Annual General Meeting (AGM) in Lagos.Consolidated Hallmark Insurance Plc has reported total assets of N9.49 billion for the year ended December 31, 2017. This compares with the figure of N7.44 billion in the same period of 2016. The company also paid out claims amounting to N3.3 billion to underline its commitments to policyholders.
Mr. Obinna Ekezie, the Chairman of Consolidated hallmark Insurance Plc said at its 23rd Annual General Meeting (AGM) held in Lagos that the company is paying out over N140 million as dividend to shareholders as proof of its financial strength and profitability in the insurance industry.
“It is gladdening to note that the Profit Before Tax recorded a 76 percent leap from N368.1 million to N641 million in 2017. This trend also impacted positively on the Profit After Tax which grew by 108 percent from N194.9 million in 2016 to N406.2 million in 2017.”
Mr. Eddie Efekoha, the managing director of the company said the insurer will continue the implementation of its corporate strategic plan which will enable “us to position ourselves as leaders in the insurance industry.”
Efekoha added that Consolidated hallmark Insurance “shall invest in new product development to adequately exploit the opportunities in the retail market segment.”