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| Management of Consolidated Hallmark Insurance Plc with (r) Sir. Nwosu at the event. |
The underwriting firm had earlier paid N216.8 million
interim dividend at two kobo per share and its expected to pay final dividend
of N216.8 million amounting to 2 kobo per share as well, thereby, bringing the
total dividend payment to N433.6 million.
The dividend payment, the company said, was in a bid to
reward its teeming shareholders for their commitment and loyalty to the
insurance firm.
Addressing the shareholders at its 27th Annual General
Meeting (AGM) in Lagos on Tuesday, its Chairman, Obinna Ekezie, disclosed that
the company generated an all-time high Gross Premium Written (GPW) of
N10.5billion in the year under review as against N9.8 billion recorded in the
corresponding period of 2020, translating to 7.4 percentage growth.
The Profit Before Tax (PBT), he said, grew significantly by
26 per cent from N772.6 million in 2020 to N971.7million in 2021 while Profit
After Tax(PAT) grew by 17 per cent from N678 million in 2020 to N790.6million
in 2021.
The insurer, he stated, created additional value during the
year by growing the Group’s total assets from N14.3billion in 2020 to
N15.7billion in 2021, a growth rate of approximately 10 per cent.
“Also, despite the prevailing economic environment,
investment income grew from N940million to N1.2billion in 2021. The financial
year under review was again another success story by your company, despite the
persisting challenges in the operating environment,” he said.
Similarly, the Group Managing Director/CEO, Eddie Efekoha,
while reacting to a question from the Chairman Emeritus, Independent
Shareholders Association of Nigeria (ISAN) Sir. Sunny Nwosu, on the plan of the
company towards recapitalisation, noted that, CHI is duly and well capitalised
to meet future capitalisation buoyed by the definition of new Share Capital in
the latest Finance Act which translates to Shareholders funds.
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| L-R: Group Managing Director, Eddie Efekoha; Chairman, Obinna Ekezie, and Company Secretary, Mrs Rukevwe Falana, all of Consolidated Hallmark Insurance @ the 27th Annual General Meeting of the Company in Lagos. |
“We are financially positioned to meet recapitalisation requirement, even though, the issue is currently inconclusive amidst legal issues surrounding it. However, the good news for the company is that, the share capital has now be redefined as shareholders fund which is a major step for your company,” he pointed out.
He applauded the shareholders, policyholders, brokers, staff
and management as well as other stakeholders for their positive interest in the
company, promising that, CHI will continue to serve its stakeholders with
upmost sincerity.
At the meeting, the shareholders approved the reappointment
of Shuaibu Abubakar Idris as an independent non-executive director of the company
as well as approved the final dividend payment of N216.8 million, among others.
Sir. Neosu applauded the company got its consistent growth
and dividend payout at a time most insurance firms are not paying dividends to
shareholders.
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