NAICOM approves 2021 financials of Consolidated Hallmark Insurance Plc
The Consolidated Financial Statement of Consolidated Hallmark Insurance Plc for 2021 has been approved by the National Insurance Commission (NAICOM) and published by the Nigerian Exchange Group (NGX).
The company remains consistent with the timely rendition and approval of its operating results as a demonstration of its commitment to regulatory compliance and shareholder information flow.
The Group’s 2021 financial result shows a Gross Premium Written of N10.5 billion, which when compared with the N9.8 billion recorded in the corresponding period of 2020 represents a growth of 7.4%. The Profit Before Tax grew by 26% , from N772.5m in 2020 to N971.6m in 2021, while Profit After Tax grew by 17%, from N677.9 million in 2020 to N790.6m in 2021. Similarly, the Group’s total assets rose from N14.3 billion in 2020 to N15.7 billion in 2021, approximately 10% growth.
In his comments on the timely filing and approval of the financial results by the regulator, the Group Managing Director/CEO of Consolidated Hallmark Insurance, Mr. Eddie Efekoha attributed the result to diligence by different arms of the company that work on the financial reporting process. He also acknowledged NAICOM’s positive contribution to ensuring that entities meet up with reporting deadlines to the capital market without compromising on the quality of financial reporting.
Mr. Efekoha expressed his delight at the continued improvement in the financial performance recorded by the Group across its various member companies. He said that the growth recorded in the Group’s bottom line reflects the prudent measures taken to increase shareholder value. He then assured its investors and other stakeholders that efforts will continually be focused on creating more value for its numerous investors and stakeholders.
Consolidated Hallmark Insurance Plc has become a one-stop-shop for insurance and other financial services with member companies having a bouquet of products in general insurance, micro life assurance, health management, finance and loans.
With the approval of the results of the 2021 Financial Year, the plans for the Company’s Annual General Meeting becomes the next agenda and the details will be announced in due course.
