Financial reports of Consolidated Hallmark Insurance Plc released for the year ended 2015 have shown that the underwriter hit a net profit of N545.81 million as against N193.07 posted in 2014.
Dr. Obi Ekezie, the out gone Chairman of the company disclosed this at the firm’s Annual General Meeting (AGM) in Lagos last week. According to him, the firm wrote a gross premium income of N6.03 billion within 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 stated 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).
It would be recalled Ekezie resigned his chairmanship of the company together with other non executive directors on March 31, 2016 due to the implementation of the new industry’s Code of Corporate Governance.
He introduced the new board members whose positions were ratified at the event adding 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 with Babatunde Adaramola unveiled as the Executive Director, Finance, Systems & Investment at the event.
Applauding the former board members for keeping the firm afloat, Sir. Sunny Nwosu, President, Independent Shareholders Association of Nigeria (ISAN), stressed that they would be remembered for their contributions towards propping the firm to lofty heights.
Nwosu urged the new board to live up to the confidence reposed on them, stressing that the former board 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.
Source: The Sun