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Consolidated Hallmark Insurance Grows Profit To N790m

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By Sola Alabadan

Consolidated Hallmark Insurance (CHI) Plc grew its profit before tax grew from N772.5 million in 2020 to N971.6 million in 2021, representing a growth of about 26 percent, while its profit after tax increased by 17 percent, from N677.9 million in 2020 to N790.6 million in 2021.
The Chairman of CHI, Obinna Ekezie, who announced this to the shareholders of the Insurance company at its 27th Annual General Meeting in Lagos on Tuesday, also informed that the gross premium income rose from N9.8 billion in 2020 to N10.5 billion in 2021, representing a 7.4 percent growth.
In keeping faith with the company’s promise to always delight its shareholders for their commitment and loyalty to the organisation, a dividend of N433.6 million was declared for the year ended 31st December, 2021. This translates to four kobo per share payable to all shareholders whose names appeared in the company’s register.
CHI had earlier paid N216.8 million interim dividend at two kobo per share and it intends to pay final dividend of N216.8 million amounting to 2 kobo per share as well, thereby, bringing the total dividend payment to N433.6 million.
In his address to the shareholders at the annual meeting, the Group Managing Director of CHI, Mr Eddie Efekoha said:
“Similarly, the Group’s total assets rose from N14.3bn in 2020 to N15.7bn in 2021, approximately 10 per cent growth.”
“The 2021 Financial Year was filled with a lot of hopes for us all, not just in the Insurance Industry and by extension the Financial Services Sector, but the entire economy”.
He added that, “It was a year which marked the near full reopening of the operations space for businesses to thrive, following the easing of the global lockdowns and restrictions that characterised the previous year 2020”..
“For us in Consolidated Hallmark Insurance Plc, our story is not different from that of the nation as the year whose operations we are reviewing during this 27th Annual General Meeting marks another positive outing for us in the various key financial indices
“Overview of our optimism for 2021 was bolstered by the projection of a 2.6 percent and 2.4 percent GDP growth for Nigeria by International Financial Institutions like the IMF and World Bank respectively, up from the 1.94 percent contraction in 2020”.
Efekoha emphasised that the company was able to achieve the feat due to measures it applied to cut cost, saying “I am glad to inform you that some prudent cost control measures we put in place helped us to attain an all-time high Profit Before Taxation of N971.7m in 2021”.

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Business

Leadway Health HMO Wins Award Again

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Leadway Health HMO has been honoured with the Health Maintenance Organisation (HMO) of the Year award at the Nigerian Healthcare Excellence Awards (NHEA) for the third consecutive year.
This achievement affirms Leadway Health HMO’s position as a consistent leader in delivering innovative, accessible, and customer-focused healthcare solutions across Nigeria. Leadway Health HMO set a new record, one that has never been achieved in the 15-year history of the NHEAwards.
The award, presented in Lagos recently, 2025, celebrates the organisation’s excellence in service delivery, technology integration, unmatched service delivery, and its expanding provider network.
Speaking on this achievement, Chief Executive Officer, Leadway Health HMO, Dr. Tokunbo Alli, stated, “Receiving the HMO of the Year award for the third consecutive year is a deeply meaningful milestone for us at Leadway Health HMO. It is more than an accolade; it is a resounding validation of our commitment to transforming healthcare delivery in Nigeria, Africa, and the world at large.
“In a country where fewer than one in ten people have access to health insurance, we recognise the immense responsibility we carry. Through our investment in digital innovation, operational efficiency, and inclusive health plans, we are not only improving access to quality care but also setting new benchmarks for service excellence within the industry. This recognition reflects the trust our customers place in us and the unwavering dedication of our team and partners who make our vision a reality every day.”
Alli added, “We will continue to scale our hospital partnerships, enhance claims transparency, and leverage technology to deliver even more accessible, affordable, and customer-centric healthcare solutions. This award strengthens our resolve to be at the forefront of Nigeria’s health transformation journey—driving meaningful change, one life at a time.”
Leadway Health HMO’s triple win comes at a time when trust and performance in the HMO sector are under scrutiny. With a growing population, rising healthcare costs, and a national goal of achieving Universal Health Coverage (UHC) by 2030, the company’s performance positions it as a crucial stakeholder in driving Nigeria’s health transformation agenda.
The Nigerian Healthcare Excellence Awards, founded in 2014 by Global Health Project and Resources in collaboration with Anadach Group USA, is the industry’s most respected recognition platform. This year’s edition was themed “Collaborating for Impact: Strengthening Health Systems through the SWAP Approach”, emphasising unified efforts to drive change.

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NAICOM Charges Operators To Ignite Nationwide Conversation About Power Of Insurance

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The National Insurance Commission (NAICOM) has enjoined insurance operators to ensure that they ignite a nationwide conversation about the power of insurance as the inaugural edition of Insurance Week holds across the country.

The Commissioner for Insurance and Chief Executive of NAICOM, Olusegun Omosehin who spoke in Lagos on Monday, affirmed that the Insurance Week is designed to raise national awareness about the vital role of insurance in Nigeria’s growth and development.

To truly secure Nigeria’s future, he pointed out that “we must educate the public on the benefits of insurance, develop products that meet the needs of all Nigerians, wnsure prompt and transparent claims processing, as well as invest in talent and technology to drive innovation and trust.

At NAICOM, he said the regulatory body is committed to building a strong, inclusive, and globally respected insurance industry, and has been driving reforms to strengthen consumer protection, promote digital innovation, ensure capital adequacy and sound governance, while expanding access to underserved communities.

On why insurance matters, he stated that “In today’s fast-changing world, risks are everywhere—economic shocks, natural disasters, health crises, and more” adding that these uncertainties can disrupt lives and derail national progress.

“Insurance is our shield. It helps individuals, businesses, and governments manage these risks, recover from losses, and build resilience.
Without insurance, your economy would be more vulnerable, and our people less secure. That’s why this year’s theme, “Insurance for All: Securing Nigeria’s Future,” is both timely and essential” he emphasised.

Omosehin maintained that “The future of Nigeria depends on how well we manage risk. Every decision—whether by individuals, businesses, or government—carries uncertainty. Insurance provides the tools to navigate these uncertainties and protect our collective future.”

The NAICOM boss further urged the nsurance operators to renew their commitment to building an industry that serves the people and supports national development and use every platform—media, schools, communities, and workplaces—to spread the message that insurance is not a luxury; but a necessity.

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Genuine Money Casino Bonus Offers: A Comprehensive Overview

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When it involves online gambling, among the most significant advantages gamers can enjoy is the accessibility of actual money casino site benefits. These bonus offers not just boost the overall gaming experience but also provide gamers with extra chances to win huge. In this comprehensive guide, we will certainly explore every vulkan (more…)

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