*Consolidated Hallmark Insurance wins Insurance Company of the year award
Kindly leave a comment and share
Chuks Udo Okonta
The Group Chief Executive Officer Consolidated Hallmark Holdings Eddie Efekoha, stood tall and shinning as he pocketed the Champion Newspapers’ 2023 Insurance Chief Executive Officer of the Year award while Consolidated Hallmark Insurance won Insurance Company of the year award.
Efekoha, an insurer of repute, at the award ceremony over the weekend in Lagos, used the platform to highlight the essence of insurance to a very high profile audience.
According to him, it would take the transfer of insurable risks to competent insurance companies for businesses and individual to be free to embark on their normal activities considering that insurance companies will always come to their aids in the event of any unforeseen occurrences. Besides, he said that it is the power and cover of protection offered by insurance companies that encourages other sectors of the economy to be adventurous since they know that there is something like insurance to provide some form of compensation should anything go wrong.
Efekoha, the former Chairman of the Nigerian Insurers Association (NIA) and
Immediate past Chairman West African Insurance Companies Association (WAICA) said it is high time that Nigerians should take insurance as a way of life by adopting it to all their endeavours.
It will be recalled that Consolidated Hallmark Insurance Limited won the 2023 Insurance Company of the Year Award at the event which also saw Eddie Efekoha emerging top among insurance chief executive officers. Efekoha was the Group Managing Director of Consolidated Hallmark Insurance Company as at 2023 which was the year of the award ranking.
He is the immediate past Group Managing Director & Chief Executive Officer of the then Consolidated Hallmark Insurance Plc, now Limited, a position he occupied between 2007 to 2023.
He provided the requisite leadership which culminated in the emergence of Consolidated Hallmark Holdings Plc, a non-operating Holdco with focus on holding portfolios of strategic investments and currently have the following member companies as subsidiaries; Consolidated Hallmark Insurance Limited, a General Business Insurance Company, CHI Microinsurance Limited, a Life Microinsurance Company, Hallmark Finance Company Limited, a Finance Company providing loans and finance to individuals, retails, SMEs and Corporates and Hallmark Health Services Limited, a Health Maintenance Organization (HMO). He is the Chairman of the Board of these thriving subsidiaries.
https://inspenonline.com/wp-content/uploads/2024/05/IMG-20240527-WA0000-350×210.jpg
Efekoha was the 49th President & Chairman of the Governing Council of the Chartered Insurance Institute of Nigeria (2018-2020) and the 22nd Chairman of the Nigerian Insurers’ Association (2016-2018), the umbrella body of all licensed and operating insurance companies in Nigeria. In recognition of his industry leadership and skills, the National Insurance Commission made him the Chairman of the Technical Sub -Committee of the Insurers’ Committee. He is the current President of the West African Insurance Companies Association (WAICA), while at the continental level, he is the Chairman of the Book Review Committee of the African Insurance Organization.
At the early stage of his career, Eddie worked with leading insurance brokerage and underwriting firms including but not limited to Hogg Robinson Nigeria, Glanvill Enthoven Nigeria Limited, Fountain Insurance Brokers Limited and Consolidated Risk Insurers Plc from 1985 to 2007 during which he held senior executive positions.
On its part, Consolidated Hallmark Insurance (CHI) Limited is a leading General Business and Special Risks Insurance company in Nigeria. The company’s shares were earlier listed on the trading floor of the then Nigerian Stock Exchange NSE, now Nigerian Exchange Group Limited (NGX) on 22nd February, 2008. Following the emergence of a Holding Company structure, the shares were delisted in November, 2023 and replaced with those of Consolidated Hallmark Holdings Plc. Consequently, the company is now one of the subsidiaries of Consolidated Hallmark Holding Plc.
Consolidated Hallmark Insurance has been in operation for over 20 years, having been incorporated on 2nd August, 1991 as a private limited liability company and commenced operations in 1992. It was converted to a public limited company in July, 2005 and in 2007 changed its name from Consolidated Risks Insurers Plc to Consolidated Hallmark Insurance Plc.
The company has become one of the top General Business and Special Risks Insurance underwriters in Nigeria today, earning a reputation over the years through effective leadership in the underwriting of Aviation, Oils and Gas, Marine Cargo and Hull Business and other non-life insurance underwriting including Motor Vehicles, Fire and Special Perils, Goods-In-Transit, Engineering Insurance, amongst others.
With a formidable team of highly experienced and committed professionals, the company has provided industry leadership at the top echelon of the Nigerian Insurers Association (NIA), the Chartered Insurance Institute of Nigeria (CIIN) and the West African Insurance Companies Association (WAICA).
The processes at Consolidated Hallmark Insurance are in line with international best practice, as certified by the International Standard Organisation with the ISO 9001:2015 Quality Management Systems, the second insurance company in Nigeria to be so certified. We have a Stable Outlook Rating (ANG) in 2023 from GCR Ratings, an affiliate of Moody’s Investors Service and are renowned for being consistent with our financial obligations including prompt claims and dividends payments.
