SHAREHOLDERS of Consolidated Hallmark Insurance Plc, CHI, will be paid N140 million or two kobo per share as dividend for the 2017 financial year.
Chairman of the company, Mr. Obinna Ekezie, disclosed this to shareholders at the company’s annual general meeting in Lagos last week. He said that the company believes shareholders deserve all the reward they can get through regular dividend payments and more for their continued faith and firm belief in the company.
Ekezie said, “We shall continue to live up to this expectation as we have done severally in the past.” He expressed optimism about the future of the company, noting that the successful completion of the final phase of the capital it raised, full deployment of funds realized and the eventual emergence of the company as one of the top players in the financial services sector, will benefit its shareholders in the long run.
Managing Director/Chief Executive Officer of the company, Mr. Eddie Efekoha, said the company continues to fulfill its obligations through prompt claims settlement as gross claims amount paid out in its 2017 financial year was N3.4 billion. He said that total assets stood at N9.5 billion in 2017 up from N7.44 billion in 2016, representing 27 percent growth. He stated that CHI also posted profit after tax of N406.2 million as against N194.9 million in 2016, adding that its profit before tax grew by 74 percent from N368.1 million in 2016 to N641 million in 2017.
Efekoha said that gross premium written was N5.6 billion; while a net underwriting income of N4 billion was recorded.