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Consolidated Hallmark Promises Prompt Claims Payment



Consolidated Hallmark Insurance (CHI) PLC has promised its teeming customers nationwide of prompt claims settlement and service delivery, saying, it was determined to increase insurance penetration and acceptance in the country.

The managing director/CEO of the underwriting firm, Mr. Eddie Efekoha, who stated this at an interactive session with insurance brokers in Lagos, also promised its shareholders good returns on investment, adding that CHI is a law-abiding company that doesn’t give room for sanction from regulatory authorities for infractions.

Noting that the insurer is professionally run and always abide by the ethical standard of insurance profession, he disclosed that the underwriting firm has paid dividend seven times in the last 10 years, while it has settled all its claims.

According to him, “As a company, we always try to improve  to deliver exceptional services to our clients. We have paid all our claims in the last 11 years. Nobody has taken us to court on the account of non-settlement of claims. On a year-on-year basis, the claims we have paid has continued to increase, yet, we have been paying them.”

Promising that Consolidated Hallmark will not relent in the discharge of its duties as expected, he said, the insurer is judicious in the way it invest and utilise shareholders’ funds, noting that though the company might not have declared bogus profit, it has consistently declare profits over time.

To increase its bottom line and reap from the huge insurance potentials in the country, Efekoha, who is also the President, Chartered Insurance Institute of Nigeria(CIIN), said, CHI has redeveloped its strategy, leveraging on technology to give better and seamless services to its relevant stakeholders.

“We might not have big capital, but we have the competence. We are the leader in Aviation, Marine and in Oil and Gas insurance businesses and the industry can attest to that. Very recently, we have paid a major claim. On the 19th of April, 2018, we have a marine claim of N2.1 billion of which we are the lead insurer and before October, 2018, the claim was paid. We don’t value investment income over that of claims, even though, we need it to reward our shareholders,” he pointed out.

He perceived the recent threat by the National Assembly to instruct Securities and Exchange Commission (SEC) to close down the company, as an ill-informed decision, saying, his company has done nothing wrong to warrant such.

He applauded the brokers who have consistently become the  backbone of the company by bringing their insurance businesses to Consolidated Hallmark, disclosing that the firm will always come out with innovative products and services that will suit the needs and yearnings of the insuring public.