Consolidated Hallmark group has transited to a holding company with the insurance arm becoming one of the four subsidiaries of the holding firm.
While the holding company will now be known as Consolidated Hallmark Holdings(CHH) Plc after the shareholders of its insurance arm transits their shares to the CHH, its underwriting firm will now be known as Consolidated Hallmark Insurance(CHI) Limited.
Its other three subsidiaries of CHH include: Hallmark HMO, CHI Microinsurance Limited and Hallmark Finance Company Limited.
To this end, Eddie Efekoha has left his position as the MD/CEO, of Consolidated Hallmark Insurance to take up the group CEO position at Consolidated Hallmark Holdings(CHH) Plc in a Holding structure that the company now operates, thereby, allowing Mary Adeyanju assumes the position of the MD/CEO of Consolidated Hallmark Insurance Limited having been elevated from her former position as ED, Operations, a position that Mr. Jimalex Orjiako now occupies.
Reacting to this development at a press briefing in Lagos, at the weekend, the group chief executive officer (GCEO) of CHH Plc, Mr. Eddie Efekoha, said, the plan to operate a holding structure precedes the 10-year tenure limit policy of the insurance industry.
Saying he has nothing against the tenure limit, he noted that it allows a succession plan for the industry, such that there is no vacuum whenever a managing director or an executive director leaves office.
He noted that, his Consolidated Hallmark has been planning its succession plan by becoming a HoldCo with four subsidiaries, long before the regulator came up with the tenure limit policy, disclosing that, the company is always proactive to regulations and operations in a bid to become one of the leading insurers in the country.
Meanwhile, the appointment of Mrs. Mary Adeyanju, as the MD/CEO of CHI has been rectified and approved by the National Insurance Commission (NAICOM).
Similarly, Katherine Itua was appointed as executive director, Finance and Investments and Jimalex Orjiako, executive director, Operations.
The group CEO of CHH Plc; Eddie Efekoha, said the appointments of the trio took effect from January 1, 2024.
Mary Adeyanju possesses a master’s degree in business administration from the Lagos State University as well as a B.A (Theatre Arts) and Diploma in Insurance from the University of Jos and Ahmadu Bello University respectively.
She is a Fellow of the Chartered Insurance Institute of Nigeria, and has over three decades of varied experience in the Insurance Industry. She commenced her career with Boff Africa Insurance Brokers and held top management positions in Carrier Insurance Brokers, First Chartered Insurance Company, Consolidated Risk Insurers.
Mrs. Adeyanju was the regional director, Lagos\Western operations of Consolidated Hallmark Insurance Plc and later got appointed as the executive director (Operations), a position she held for over seven years, where she consistently grew the premium income of the company, while revolutionising the operational structure, with far reaching reforms in marketing , underwriting and the claims aspect of the business.
She is an alumnus of the Lagos Business School and also a non-executive director on the board of Hallmark Finance and CHI Micro Life Insurance company respectively. She is also a member of the Institute of Directors.
Moreover, Katherine Itua is the executive director, Finance and Investments, Consolidated Hallmark Insurance, holds a Bachelor of Education Degree in Education and Economics/Political Science from the University of Ibadan. She is a Chartered Accountant and Fellow of the Institute of Chartered Accountants of Nigeria(ICAN), her wealth of experience spans about thirty years.
She trained and worked at the foremost Audit/Consultancy firm, Akintola Williams Deloitte for seventeen years before she left at Management level.
Itua joined Consolidated Hallmark Insurance in 2011 to head the audit and risk management group and has brought lasting changes to the audit function of the company.
Katherine is a certified member of the Institute of Risk Management London and ISO 9001:2015 Quality Management System certified auditor and Management Representative since 2017. Kate is also a member of the AMP 27 Class of the Lagos Business School
Jimalex Orjiako who is an executive director, Operations of Consolidated Hallmark Insurance, is a graduate of Insurance from the Lagos State Polytechnic and has a Post Graduate Diploma in Financial Management from the Lagos State University.
He is an Associate Member of the Nigerian Gas Association, Nigerian Institute of Management and a member of the Institute of Operational Risk, United Kingdom, the Chartered Insurance Institutes of London and Nigeria as well as the Faculty of Underwriting, London. Jimalex is an Alumnus of the Lagos Business School, having attended the AMP programme. He was the immediate past Divisional Director, Technical Group of Consolidated Hallmark Insurance.
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