Consolidated Hallmark Attributes 2021 Success to Staff Diligence

Ebere Nwoji

The Managing Director Consolidated Hallmark Insurance plc, Mr Eddie Efekoha, has attributed the success achieved by the company in its business outing in 2021 business year to diligence by different arms of the company.

According to Efekoha, the company only toes profitability path also remains consistent with the timely rendition and approval of its operating results as a demonstration of its commitment to regulatory compliance and shareholder information flow.  

The Group’s 2021 financial result shows a Gross Premium Written of N10.5 billion, which when compared with the N9.8 billion recorded in the corresponding period of 2020 represents a growth of 7.4 percent.

The Profit Before Tax grew by 26 percent from N772.5million in 2020 to N971.6m in 2021, while Profit After Tax grew by 17 percent from N677.9 million in 2020 to N790.6m in 2021. Similarly, the Group’s total assets rose from N14.3 billion in 2020 to N15.7 billion in 2021, showing approximately 10 per cent growth. 

Efekoha attributed the result to diligence by different arms of the company that work on the financial reporting process. He also acknowledged NAICOM’s positive contribution to ensuring that entities meet up with reporting deadlines to the capital market without compromising on the quality of financial reporting.