Consolidated Hallmark records N7.02b premium

Notwithstanding the unfriendly business environment in the country, Consolidated Hallmark Insurance Plc announced a premium income of N7.023 billion for the financial year ended 31st December, 2015., having improved significantly from the N6.139 billion recorded the previous year.

Also, basic and diluted earnings per share in 2015 is 9.10 kobo from the 3.22 kobo of 2014 while profit before tax and exceptional item grew by 182.70 per cent from N193.077 in 2014 to N545.811 million during the year under review.

The Chairman of the company, Ugo Obi Ralph Ekezie, addressing shareholders at the 21st yearly general meeting in Lagos said “We set out in 2007, grown from N4.652 million to N7.023 billion in 2015 having improved significantly from the MN6.139 billion recorded in 2014.”

According to him, in line with our commitment to the growth of shareholder value over the years, profits have consistently been posted annually except for the 2014 financial year where provision was made for impairment charges.

He said “It is my pleasure to inform you once again, dear shareholders that from the p.rofit of N545.811 million attributable to shareholders, a dividend of three kobo per share is being proposed for approval at this meeting. Upon approval, this will translate to a total dividend payout of N180 million from the 2015 operations, having earlier paid an interim dividend of N120 million from the half year ended 2015 results.

Your company has been one of the regular dividend paying insurers in the industry, having made payments four times prior to this meeting.

He said “We have now passed on the baton successfully to a new team of capable hands who we believe will successfully take your company to greater heights. Our desire is to continue to provide the necessary support to the new members of the board to enable them succeed.”

According to him, certain strategic measures have been put in place including the strategic plan to grow the company. We believe the insurance industry will surely take its rightful place in the economy.