An underwriting firm, Consolidated Hallmark Insurance (CHI) Plc, has paid a total dividend of N325 million translating to three kobo per ordinary share to shareholders for the 2022 financial year.
The chairman of the company, Obinna Ekezie, while addressing shareholders at the 2022 yearly general meeting in Lagos, said: “The dividend, as usual, is subject to the appropriate withholding tax. Accounts of qualifying shareholders who have updated their account records with the registrars shall be credited starting from the end of the meeting, upon your approval.”
Its gross premium written (GPW) rose by 22 per cent, from N10.5 billion in 2021 to N12.8 billion in 2022, while underwriting profit grew from N1.9 billion in 2021 to N2.3 billion in 2022.
The firm’s total assets increased to N18.5 billion from N15.6 billion achieved in the corresponding period in 2021.
“Profit before taxation rose to N1.4 billion from the N971.67 million posted in 2021, while total profit attributable to shareholders has attained a billion-naira mark, having hit N1.017 billion, from N923.1 in 2021.”
Also speaking at the meeting, the Group Managing Director/Chief Executive Officer, Eddie Efekoha, said the insurer recorded a 45 per cent increase (over the prior year) in profit before taxation from N971.6 million in 2021 to N1.407 billion in 2022 with profit after taxation increasing by 26 per cent, from N790.6 million in 2021 to N995.98 million in 2022.
