Consolidated Hallmark Insurance Declares N140m Dividend

[Edoman]

To reward shareholders who have stood by the company during trying times in its 2017 financial year, Consolidated Hallmark Plc has declared a 2 kobo dividend per share, amounting to N140 million dividend paid to its teeming shareholders nationwide. While announcing the dividend payout to its shareholders at the 2017 annual general meeting (AGM) of the company in Lagos recently, the Chairman, Mr. Obinna Ekezie, said, his insurance firm believes shareholders deserve all the reward they can get through regular dividend payments and more for their continued faith and firm belief in the company. Stating that the dividend is payable to shareholders whose names appear in the register, he stated that, “we shall continue to live up to this expectation as we have done severally, in the past.” He expressed optimism about the future of the insurer, pointing out that the successful completion of the final phase of the capital it raised, full deployment of funds realised and the eventual emergence of the company as one of the top players in the financial service sector, will benefit its esteemed shareholders in the long run. In the same vein, managing director/CEO, Consolidated Hallmark Insurance Plc, Mr. Eddie Efekoha, at the AGM, said the company continues to fulfil its obligations through prompt claims settlement as gross claims amount paid out in its 2017 financial year was N3.354 billion. The Total Assets of the firm, he said, stood at N9.49 billion in its 2017 financial year, up from N7.44 billion it was in 2016, representing 27 per cent growth. He stated that the insurer also posted a Profit After Tax of N406.2 million as against N194.9 million posted in its 2016 Financial Year, adding that its Profit Before Tax grew by 74 per cent from N368.1 million in 2016 to N641 million in 2017. The Gross Premium Written reported for the period, he stressed, was N5.6 billion, while a Net Underwriting Income of N4 billion was recorded. He pointed out that the company made appreciable progress in investment activities as well as its Investment Income which grew from N472.3 million to N796.2 million in 2017, he promised the shareholders more returns in the nearest future from the insurance firm even as recent capacity expansion and growth initiatives in the underwriting firm will help to grow its revenue.

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