Pays 3 kobo dividend
Chuks Udo Okonta
Consolidated Hallmark Insurance Plc recorded a gross premium
of N4.14 billion last year, as against N4.09 billion written in 2011.
Its Chairman, Dr Obi Ekezie, who disclosed this today, Wednesday,
at the company’s Annual General Meeting (AGM) in Lagos, said the firm’s profit
before tax grew by 278 per cent to N560.46 million as against N148.23 in 2011.
He noted that the company recorded a profit after tax of
N395.20 million, as against N153.38 million in the previous year. The total
asset, he said, rose to N6.67 billion from N6.07 billion in 2011, while shareholders
fund moved by seven per cent to N4.18 billion as against N3.91 in 2011.
Ekezie said the underwriting firm will pay N180 million as
dividend to its shareholders, adding that the amount translates to 3 kobo per
share.
He said the company
will continue to comply with best practices in corporate governance issues.
A Shareholder Clement Okoi, commended the firm for the
dividend pay-out, adding that the decision to pay dividend amidst the challenges
shows the regard the firm has for its shareholders.
Consolidated Hallmark is one of the five underwriters
that had scaled the International Financial Reporting Standard (IFRS) huddles.
Its Managing Director/Chief Executive Officer (CEO) Eddie
Efekoha, on the IFRS, said though the transition reporting was not as seamless
as envisaged in the industry, subsequent years would be less problematic for
the players because of lessons learnt.
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.
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