CHI Plc obtains licence from NAICOM to operate CHI Microinsurance

In a strategic move to create a one-stop shop for financial services solution, Consolidated Hallmark Insurance (CHI) has obtained licence from the National Insurance Commission (NAICOM) to operate it’s new baby – CHI Microinsurance Limited (Life Assurance).

The new outfit which is specifically designed to create full customer relationship satisfaction in the retail segment, but also reach out to the nooks and crannies where large percentage of the population are concentrated.

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The Group Managing Director of CHI and Chairman of CHI Micro-insurance Limited, Eddie Efekoha, in a press release explained that the low insurance penetration in the country will improve significantly if operators will take advantage of the opportunities created by the Commission on the new platform to offer customer base retail products that satisfy the needs of the people not only in general insurance but also in life assurance business.

According to the CHI boss, the market remains hitherto largely untapped over the years because operators focused attention on corporate transactions.

According to him “CHI Microinsurance Limited has already put together a team of highly experienced and professional staff headed by Pius Karieren as Managing Director/CEO. The company has already obtained NAICOM approval for five retail products – the Esusu Plan, Welfare Plan, Credit Life, Cooperative and Group Life Plans, all designed to meet the needs of the mass market. The business office complex is positioned in a central and accessible location at Anthony, Gbagada Lagos and properly backed by technology.

The Managing Director/CEO, Pius said that he is greatly excited by the grant of the operational license and that they are in the market to change the face of Microinsurance for the benefit of the customers. He further said that arrangements are being finalized for the formal launch of the company.

CHI Microinsurance Limited joins Grand Treasurers Limited and Hallmark Health Services Limited (Hallmark HMO) who have continued to play their role in consistently growing the key fundamentals of the Group.
Consolidated Hallmark Insurance (CHI Plc) Group is made up of Consolidated Hallmark Insurance (CHI Plc), providing General Insurance Business, CHI Microinsurance Limited, providing Micro Life Assurance, Hallmark Health Services Limited, which is a Health Management business, Grand Treasurers Limited, which is a CBN licensed Finance Company providing loans and finance for the individual and SMEs licence, among others.

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