Consolidated Hallmark Insurance (CHI) Plc has rewarded its shareholders with a cumulative N216.8 million dividends for the year ended December 30, 2020.
Speaking at the company’s 2020 annual general meeting (AGM) in Lagos at the weekend, chairman of CHI, Mr. Obinna Ekezie, said the dividend pay-out translates to two kobo per ordinary share of 50 kobo subject to appropriate withholding tax.
He said that, this development showed the company’s desire to continually ensure appreciable returns to our shareholders, saying that “We remain committed towards regular dividend payments to our shareholders.”
He disclosed that CHI generated an all-time high gross premium written (GPW) of N9.77 billion which represented a 12 per cent growth when compared with the N8.69 billion reported in the same period of 2019.
The net underwriting income, he said, grew from N5.46billion in 2019 to N6.5billion in 2020, stressing that, gross claims expenses jumped by 21 per cent from N3.45 billion in 2019 to N4.17billion in 2020, an affirmation of its commitment to continually maintain sterling reputation of ensuring that customers get value through prompt payment of all valid claims.
“We also recorded a modest growth of 8.6 per cent in profit before tax which moved from N711 million during the preceding year to N772 million in 2020, while profit after tax increased to N677.98 million from N600.31 million in 2019. Total Assets increased by 22 per cent, growing from N11.74 billion to N14.31 billion in the year under review,” he stated.
Similarly, the group managing director/CEO, Mr. Eddie Efekoha, said the insurer regularly settle all fully documented claims ahead of the deadline stipulated by the regulators, boasting that CHI has no single unsettled claim in its books.