Insurance

Consolidated Hallmark Insurance nets N545.81m, pays 3k dividend

.Pays N960m dividend since 2007

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From left: Former Chairman, Ekezie; Ekekoha and a member of the new board Obinna Ekezie at the event.

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Chuks Udo Okonta

Consolidated Hallmark Insurance Plc recorded a net profit of N545.81 million in 2015 as against N193.07 posted in 2014.

Its former Chairman, Dr Obi Ekezie, disclosed this today at the firm’s Annual General Meeting (AGM) in Lagos. He noted that the firm wrote a gross premium income of N6.03 billion in the year under review 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.

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).

Ekezie who resigned as chairman of the firm together with 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 Eziaku Obidegwu; Andrew Odigie; Joel Avhurhi; Mrs Adebola Odukale and Ben Onuorah.

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

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Shareholders at the event.

The President, Independent Shareholders Association of Nigeria (ISAN), applauded the former board members for keeping the firm afloat, stressing that they will be remembered for their contributions towards propping the firm to lofty heights.

He urged the new board members 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.

The Managing Director, Eddie Efekoha, maintained that to accelerate the firm’s growth towards the desired heights, a five years growth planned was recently rolled out, adding that a strategic component of the plan, is the vision 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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