CHI MD, Eddie Efekoha

By Ngozi Onyeakusi— Consolidated Hallmark Insurance Plc has declared a total dividend payout to the tune of N325.2 million for the year ended 31st December 2022.

This translates to 3kobo per ordinary share of 50 kobo held by shareholders whose names appeared in the company register within the period.

Addressing shareholders at the Consolidated Hallmark Insurance Annual General Meeting in Lagos, Chairman, Board of Directors of the firm
Obinna Ekezie stated:

“In line with our firm belief in the Return On Investments to Shareholders through consistent dividend payment, we wish to
hereby present to you for your consideration and approval, a dividend of N0.03 or 3kobo per ordinary share of 50 kobo.

This is a total dividend yield of 6% per share and amounts to N325,200,000 million”, he acclaimed.

According to him, ,”During the 2022 Financial Year, your company once again braved all odds in the operating environment and is posting improved results in its top and bottom lines” he said.

He noted firm”s Gross Premium Written recorded a significant improvement as it
showed a growth of 22% in from N 10.5 billion in 2021 to N12.8 billion in 2022. financial year.

Underwriting Profit, he said grew from N 1.9 billion in 2021 to N2.36 billion in 2022 while the Total Assets of the company as well soared to N18.53 billion when compared with the N15.67 billon recorded in the preceeding period of 2021.

Profit Before Taxation, according to him, grew significantly to N 1.4 billion in the period under review from the N971.6 million in the comparable period of 2021.

Also speaking at the meeting, the Managing Director CHI, Eddie Efekoha stated:
“the 2022 success story reflects succinctly in the key bottom line financial performance indicator where we broke the N1 billion mark jinx in profit attributable to equity holders. Your company recorded a 45% increase (over prior year) in Profit Before Taxation from N971.6m in 2021 to N1.407 billion in 2022. Profit After Taxation also grew by 26% over prior year from N790.6 million in 2021 to N995.98 million in 2022. Also, through prudent underwriting, we were able to grow our underwriting profit by 24% to N2.367 billion in 2022 from the N1.915 billion in 2021 financial year”, said.