Insurance World

Consolidated Hallmark Refutes Allegation Of Market Infractions By Reps Committee

* Insists Company Is Fully Compliant With Market Regulation

* Eddie Efekoha, MD/CEO Consolidated Hallmark Insurance Plc

 

 

 

BY NKECHI NAECHE—The management of Consolidated Hallmark Insurance Plc on Monday refute media report of the public hearing of House of Representative Committee on Capital market and institution held October 31, 2018 indicting its company and some insurance companies on allegation of regulatory infractions and default in dividend payment to shareholders.

According to statement signed by the company’s Managing Director/ CEO, Eddie Efekoha that the report is not true and baseless.

He further assured its shareholders that the company is fully compliant with the Industry and capital market regulations as exemplified in its regular filling of returns, tax remittance and payment of dividend to its shareholders.

Speaking further on the hearing , he said: ” We have attended the previous hearings of the House Of Representative committee and made representations to them and at no time have we been indicted of any such infractions. Our inability to attend the committee’s last session held 31, October 2018 was unavoidable and this was fully communicated to the committee in writing.

Eddie who also doubles as the President of CharteredInsurance Institute of Nigeria( CIIN) said:  “We are currently reaching out to the House Committee to correct  any misrepresentations from their media chat”

He however assured the committee that the company is in good standing with its regulatory compliance, tax rendition and investor friendly.

He further stressed that the company is not in any way linked to the alleged infractions mention by media report.

Last week, the deputy chairman of the  House of Representatives Committe on Capital market and institutions, Hon. Tony Nwulu during the  hearing was quoted as indicting  some insurance companies on allegation of regulatory infractions including default in dividend payment.

 

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