Consolidated Hallmark returns to profitability, grows premium by 12%

Consolidated Hallmark Insurance (CHI) plc has returned to profitability, going by the 2014 financial result of the company recently approved by the various regulators, and made available to investors on the trading floor of the Nigerian Stock Exchange (NSE).

CHI posted a premium income of N4.68 billion compared with the N4.15 billion in 2013 financial year. While the company also recorded an underwriting profit of N863 million compared with N1.06 million in 2013, The profit attributable to equity holders of the parent company took a forward leap from a negative position of N200.56 million in 2013, to yield N193.08 million in the review year.

The results have brought to fruition the assurance to shareholders by Eddie Efekoha, managing director/CEO, during the annual general meeting at Uyo in 2014, that “with the outstanding premium debacle ended in the industry and particularly for our company, it is a very strong signal of better days of profitability ahead.”

It is indeed, a promise fulfilled as the company’s 2014 accounts have shown. CHI is among industry players that have so far received the approval of the industry and other regulators for their 2014 financials.

Meanwhile, arrangements are ongoing for the 20^th annual general meeting, holding on a date to be announced soon.

 

Modestus Anaesoronye