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Consolidated Hallmark Insurance posts N6b as gross premium, pays 3k dividend

Consolidated Hallmark Insurance Plc has posted a gross premium income of N6.03 billion in the year 2015, as against N4.61 billion in the previous year, while profit before tax stood at N704.91 million, as against N205.62 million and total assets stood at N7.02 billion as against N6.13 billion in 2014.

The leading underwriting firm recorded a net profit of N545.81 million in 2015 as against N193.07 posted in 2014.

Dr Obi Ekezie, the company’s outgoing Chairman disclosed this at the firm’s Annual General Meeting (AGM) in Lagos, recently.

He posited that from the N545.81 million profit, the sum of N180 million will be paid as dividend at 3kobo per share to shareholders, adding that the company remains one of the regular dividend paying insurer, having paid N300 million in (2009:2008 accounts); N180 million (2011:2010); N120 million (2012:2011) and N180 million (2013:2012).

Dr. Ekezie, who resigned as chairman of the firm alongside other Non-Executive Directors on March 31, 2016, due to the implementation of the new industry’s Code of Corporate Governance, introduced the new board members whose positions where ratified at the event.

He noted that the firm had paid N960 million dividend since 2007.

The new board members include: Obinna Ekezie; Mrs Eziakun Obidegwu; Andrew Odigie; Joel Avhurhi; MrsAdebola Odukale and Ben Onuorah.

The Executive Director, Finance, Systems & Investment, Babatunde Adaramola was also unveiled at the event.

The President, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, applauded the former board members for keeping the firm afloat despite the nation’s economic challenges.

Nwosu, stressed that the former board members will be remembered for their contributions towards propping the firm to lofty heights.

He however urged the new board to live up to the confidence reposed on them, adding that the former board members have put in place a strong foundation on which they are to build on.

He though acknowledged that insurance operators in the country are working assiduously to sell their products amidst apathy.

But Sir Sunny Nwosu, urged the operators not to relent, adding that as the economy improves, backed with aggressive awareness campaign things will improve.

Meanwhile, Eddie Efekoha, the company’s Managing Director/CEO, said “To accelerate our company’s growth towards the desired heights, a five years growth planned have been rolled out.

“The plans are strategic component visioned to be the first choice provider of insurance and other financial services in Nigeria.”

He lauded the contributions made by the outgone board, stressing that the new board consists of tested hands who are capable to drive the firm to lofty heights.

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