Chuks
Udo Okonta
Consolidated
Hallmark Insurance (CHI) Plc International Financial Reporting Standard (IFRS) accounts
and reports for the Financial Year Ended Dec 2012 have been approved by the National
Insurance Commission (NAICOM).
The
company thus joins the league of three other insurance companies whose financial
statements for 2012 have been approved by the industry’s regulator.
A
statement by the company’s spoke person, Ben Mamedu, said the
approval was conveyed in a letter signed by NAICOM’s Director of Supervision, Nicholas
Opara and dated July 2, 2013, where he informed the company of the approval by
the Commissioner for Insurance Fola Daniel.
Managing
Director/Chief Executive Officer (CEO) CHI, Eddie Efekoha, applauded the
positive development and attributed it to the determination of the Management,
Board of Directors, the entire staff as well as other stakeholders including
the company’s auditors.
He
said though the transition to the IFRS reporting was not as seamless as
envisaged in the industry, subsequent years would be less problematic for the
players because of lessons learnt.
In
line with this development, he said the company is now making arrangements
towards presenting the approved financials to the shareholders for approval at
the Annual General Meeting (AGM) of the company on a date to be announced soon.
Efekoha
said the company remains committed towards ensuring that compliance issues with
all regulators, both industry based and capital market would be continually
adhered to, as the company strives towards its vision of being the leading
provider of insurance and other financial services of international standard.
No comments:
Post a Comment