BY NKECHI NAECHE- ESEZOBOR-Consolidated Hallmark Insurance Plc, a major player in the insurance sector on Friday said the National Insurance Commission (NAICOM) has approved the consolidated financial statement for 2021 with 26% growth in profit before tax for the year to N971.6million in 2021 from N772.5 million in 2020.
The Group’s 2021 financial statement shows a Gross Premium Written of N10.5 billion, which when compared with the N9.8 billion recorded in the corresponding period of 2020 represents a growth of 7.4%.
Profit After Tax of the company grew from N677.9 million in 2020 to N790.6m in 2021; showing 17% growth.
Similarly, the Group’s total assets rose from N14.3 billion in 2020 to N15.7 billion in 2021, approximately 10% growth.
The statement noted that it remains consistent with the timely rendition and approval of its operating results as a demonstration of its commitment to regulatory compliance and shareholder information flow.
Commenting on its performance, the Group Managing Director/CEO of Consolidated Hallmark Insurance, Mr. Eddie Efekoha attributed the result to diligence by different arms of the company that work on the financial reporting process.
He also acknowledged NAICOM’s positive contribution to ensuring that entities meet up with reporting deadlines to the capital market without compromising on the quality of financial reporting.
Efekoha expressed his delight at the continued improvement in the financial performance recorded by the Group across its various member companies.
He said that the growth recorded in the Group’s bottom line reflects the prudent measures taken to increase shareholder value.
He then assured its investors and other stakeholders that efforts will continually be focused on creating more value for its numerous investors and stakeholders.
Consolidated Hallmark Insurance Plc has become a one-stop-shop for insurance and other financial services with member companies having a bouquet of products in general insurance, micro life assurance, health management, finance and loans.
With the approval of the results of the 2021 Financial Year, the plans for the Company’s Annual General Meeting becomes the next agenda and the details will be announced in due course.
The account has been approved published by the Nigerian Exchange Group( NGX).
