Insurer’s N140m to boost shareholders investment return

CONSOLIDATED Hallmark (CHI) Plc has declared a two kobo dividend per share, amounting to N140 million for its teeming shareholders nationwide, a move aimed at assuring them of better returns for standing by the company during trying times.

Confirming the dividend payout to its shareholders at the 2017 yearly general meeting of the company in Lagos, the Chairman, Obinna Ekezie, said the insurer believes shareholders deserve all the reward they can get through regular dividend payments and more for their continued faith and firm belief in the organization.

Stating that the dividend is payable to shareholders whose names appear in the register, he added: “We shall continue to live up this expectation as we have done severally, in the past.”

He expressed optimism on 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 services sector, will benefit its esteemed shareholders in the long run.

In the same vein, the Managing Director/ceo, Consolidated Hallmark Insurance Plc, Eddie Efekoha, 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 CHI also posted a profit after tax of N406.2 million, against N194.9 million in 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 for the period, he stressed, was N5.6 billion, while a net underwriting income of N4 billion was recorded as well.