Consolidated Hallmark Holdings (CHHOLDCO) Plc has seen its earnings shoot up to the highest on record since listing on the NGX as after-tax profit surged 495 for the year ended December 31, 2024, driven by the adoption of a holding company structure on January 1, 2024.
The Group currently stands as the parent body for Consolidated Hallmark Insurance Limited, CHI Micro Insurance Limited, CHI Health Management Organisation, CHI Capital Limited, and Grand Treasurers Limited.
According to the company, the expansion of its operations into a holding company aims to enhance stakeholder interest and contribution to the financial services sector of the Nigerian economy.
However, this development also coincided with the 10-year limit tenure for chief executive officers of insurance companies as Eddie Efekoha, former managing director of the insurance company handed over the mantle of leadership to Mary Adeyanju, who now heads Consolidated Hallmark Insurance as the managing director, while he moves to head CHHOLDCO Plc as the CEO.
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According to the company’s audited financial statements, after-tax profit rose to N22.6 billion in 2024 from N3.8 billion recorded as a company in 2023 while profit before tax grew by 397.9 percent to N23.4 billion from N4.7 billion in the previous year.
The Group’s insurance revenue also surged 87.3 percent to N29.4 billion from N15.7 billion in 2023 while investment results improved to N23.8 billion from a loss of N115.9 million, aided by Net fair value gains on financial assets at fair value through profit and Net foreign exchange gains at the end of 2024.
Net fair value gains on financial assets at fair value through profit stood at N16.2 billion in 2024 while Net foreign exchange gains was N3.5 billion, compared to the insurance service expenses of N12 billion and Net expenses from reinsurance contracts held at N3.7 billion recorded in 2023.
Consolidated Hallmark Holdings Plc is one of the top ten general business and special risk insurance underwriters in Nigeria. In the last ten years, the company has played a leadership role in the underwriting of key transactions in Aviation, Oil & Gas, Marine Cargo and Hull Business as well as in the motor insurance business.
Leveraging on the capabilities and unique skills of the entire group, the company provides premium risk management solutions to its clients. The company is the second insurance company in Nigeria to obtain an ISO 9001:2015 certification.
According to the Nigerian Stock Exchange Limited (NGX), the current share price of Consolidated Hallmark Holdings (CONHALLPLC) is NGN 2.81.
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CONHALLPLC closed its last trading day (Monday, April 7, 2025) at 2.81 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.9 percent drop from its previous closing price of 3.12 NGN.
The Group began the year with a share price of 3.45 NGN but has since lost 18.6 percent off that price valuation, ranking it 127th on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that CONHALLPLC has lost 18 percent of the stock’s value from March 6th to date.
Further analysis of the Group’s financial results revealed that total assets surged by 67 percent to N56.9 billion from N26.2 billion in 2023, driven by a surge in financial assets of N27.9 billion in 2024.
Total liabilities rose by 45 percent to N21.9 billion from N13.3 billion in 2023 on the back of increased insurance contact liabilities of N15.2 billion in 2024.
