From Left: Mr Eddie Efekoha,Group Managing Director,Mr Obinna Ekezie,Chairman and Mrs Rukevwe Falana,Company Secretary,all of Consolidated Hallmark Insurance @ the 26th Annual General Meeting of the Company in Lagos.
BY NKECHI NAECHE-ESEZOBOR–Consolidated Hallmark Insurance Plc has recommended an interim dividend payout of N216.8 million to it’s shareholders for the financial year ended December 31, 2020.
This the company said it translate to two Kobo per share of 50kobo subject to appropriate withholding of tax.
The chairman of the company, Mr. Obinna Ekezie, disclosed this at the company’s annual general meeting held today in Lagos, that they remain committed towards regular dividend payments to it’s shareholders in appreciation of their faith in the company.
On its financial statement, he said it’s Gross Premium Written grow by 12% to N9.77billion when compared to N8.69 billion reported in same period if 2019.
Net underwriting income grew from N5.46billion in 2019 to N6.5billion, while claims expenses jumped by 21% from N3.45billion in 2019 to N4.17 in 2020.
He added that they recorded a modest growth of 8.6% in profit before tax which moved from N711million during the proceeding year to N772million in 2020, while profit after tax appreciated to N677.98 million from N600.31million achieved in 2019.
The underwriter’s total assets were not left out as it rose from N11.74billion to N14.31 billion, representing 22% increase over the previous year of 2019.
