CHI offers shareholders N162.6 million dividend

Consolidated Hallmark Insurance Plc has declared N162.6 million, amounting to a dividend of two kobo per share for its 2018 operations.

The Chairman of the company, Obinna Ekezie, at the 24th yearly general meeting of the insurer in Lagos, noted that the company remains committed to its promise of regular dividend payment.

He maintained that the company had paid dividends in seven out of 11 financial years of its operations.
Ekezie, noted that the company recorded premium written of N6.86 billion, an increase of 20.85 per cent from 2017, stressing that due to the management’s disciplined approach to costs, the underwriting company recorded a profit after tax N406.71 million as against N406.21 million in 2017.

He said the company paid claims amounting to N4.7 billion and has a total assets N1.082 trillion, assuring that the company’s commitment remains unwavering towards evolving into a leading provider of insurance and other financial services in the country.

According to him, measures have been put in place to take the company to lofty heights, adding that the deployment of funds generated through capital raised will no doubt ensure further improvement in the company’s income.

The Coordinator Emeritus, Independent Shareholders Association of Nigeria (ISAN) Sir Sunny Nwosu, lauded the performance of the company, while urging the board and management to do more to improve return on investment for shareholders.

He pledged shareholders’ support for the company, stressing that shareholders would continue to advocate for improved regulations from regulators.

Another shareholder, Mrs. Ayodele Kudaisi, applauded the company and also urged the management to ensure their products get to every sphere of the environment in Nigeria.