Insurance World

Consolidated Hallmark To Commence Micro-Life Insurance Subsidiary By Q1 2020

L-R:  Managing Director/CEO, Consolidated Hallmark Insurance Plc, Mr. Eddie Efekoha; Chairman, Mr. Obinna Ekezie; Company Secretary, Mrs. Rukevwe Falana, and a Director, Prince Ben Onuora, during Consolidated Hallmark Insurance Extra-Ordinary General Meeting  in Lagos on Thursday.  November 21, 2019.

BY NKECHI NAECHE ESEZOBOR —Poised to deepen insurance penetration and awareness in the country, top underwriter, Consolidated Hallmark Plc on Thursday said it will soon commence Micro-Life insurance subsidiary by early 2020.
The Chairman of the company, Obinna Ekezie disclosed this during the company’s EXTRA -Ordinary General Meeting  (EGM) held in lagos, that they are on the verge of being granted an operational license by the National Insurance Commission, (NAICOM) to operate the business.
He said that the company have paid the statutory deposit and license application fee to the Central Bank Nigeria ( CBN) and NAICOM respectively.

Speaking onmits third quarter result for 2919, he said Profit-After-Tax (PAT)rose to N519.6 million from N355.9 million in the corresponding period of 2018 to N519.6 milliom in same petiod of 2019, representing a 46% rise.

Gross Premium Written for the period grew by 23.7% to N6.687 billion from N5.404 billion reported in September 2018.

Total Assets of the Group rose to N11.159 billion from N10.821 billion during the corresponding period.


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