Underwriting firm, Consolidated Hallmark Insurance Plc has recorded a 182.69 percent growth in profit after tax for the financial year ended December 31, 2015. This also resulted in a total dividend payout of 3 kobo to its shareholders.
Disclosing the Company’s performance at its Annual General Meeting in Lagos, outgoing chairman, Ralph Ekezie said despite the challenging business environment, the company continues to record growth with increased shareholder value.
He announced a gross premium income of N6.04 billion as against N4.61 billion in 2014, while the net premium also grew from N2.53 billion in 2014 to N3.19 billion in the review year.
Ekezie 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).
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 the firm has so far paid out N960 million dividend since 2007.
Eddie Efekoha, managing director of the company said the firm has commenced a five year strategic plan with the robust engagement clients through social media facilitated by the establishment of an e-channels desk. “Plans are also afoot to improve significantly on brand visibility through integrated marketing communications.”
Efekoha said, “Your company has established a retail unit with the aim of growing the business through the advantages inherent in the largely untapped volumes available from the mass market.
He further stated that the Corporate Social Responsibility initiative of the firm, which is the Annual Essay Competition, has continued to attract the attention of more participants, adding that it is currently in its 5th edition and attracted winners from as far as the University of Uyo, Akwa Ibom State.
“Other social intervention initiatives including periodic provision of succour to motherless babies in orphanage home remain on course,” he pointed out.
Modestus Anaesoronye
