Insurance Firm Posts N58bn Shareholders’ Fund, N25.9bn PBT

Consolidated Hallmark Insurance Limited has reported a shareholders’ fund of N58 billion and profit before tax (PBT) of N25.9 billion for the six months ended June 30, 2026, following the successful completion of its recapitalisation exercise.

The company, a subsidiary of Consolidated Hallmark Holdings Plc, said the achievement followed its compliance with the National Insurance Commission (NAICOM)’s new minimum capital requirement under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

According to the insurer’s unaudited financial results for the period, total assets stood at N89.9 billion, while insurance revenue amounted to N23.1 billion.

The company also paid N6.9 billion in claims during the period, underscoring its capacity to meet policy obligations and settle genuine claims.

As of December 2025, Consolidated Hallmark Insurance reported a solvency margin of N35.6 billion and retained its GCR Credit Rating of Stable – A.

The insurer said the financial position strengthens its ability to underwrite larger and more complex risks across key sectors, including aviation, oil and gas, marine and motor insurance.

Speaking on the performance, the managing director/chief executive officer, Consolidated Hallmark Insurance, Mary Adeyanju, said the successful recapitalisation was more than a regulatory requirement, describing it as evidence of the company’s financial resilience and disciplined governance.

“Successfully meeting NAICOM’s recapitalisation requirement is far more than a regulatory milestone. It is a strong affirmation of our financial resilience, disciplined governance and unwavering commitment to those who place their trust in us,” she stated.

Adeyanju added that the stronger capital base would enable the company to expand its underwriting capacity and improve its service delivery.

“As the insurance landscape evolves, Consolidated Hallmark Insurance remains exceptionally positioned to underwrite larger risks, deepen our service capabilities and continue delivering prompt claims settlement and innovative solutions,” she said.

Also speaking, the Executive Director, Finance, Katherine Itua, said the company’s balance sheet strength was the result of prudent financial management and disciplined capital planning.

“Our successful attainment of the new capital threshold demonstrates the strength of our balance sheet, disciplined capital management and sound financial planning. This financial strength enhances our underwriting capacity and enables us to continue creating lasting value,” Itua said.

The company said the recapitalisation would further position it to take advantage of emerging opportunities in the Nigerian insurance market while maintaining its commitment to policyholders and other stakeholders.