The Consolidated Hallmark Insurance, CHI, Plc, has revealed that its proﬁt grew from N1 , 915 , 312 , 119 in 2021 to N2,367,109,763 in 2022.
The underwriting firm also disclosed that the total assets of the company was not left out in the impressive performance, at the total assets is now N18,540,741,526 when compared with the N15,674,166,226 of 2021.
The Chairman of CHI Plc, Obinna Ekezie at the firm’s 28th Annual General Meeting (AGM) on Wednesday in Lagos, said
during the 2022 financial year, the company once again braved all odds in the operating environment and posted improved results in its top and bottom lines, adding that the results are an all-time high, as they showed a growth of 22 per cent in Gross Premium Written (GPW), from N10,500,388,477 in 2021 to N12,826,865,218 in 2022.
He said that the company also maintained its unbroken proﬁtability streak by growing proﬁt before taxation to N 1,407,704,796 from the N971,674,800 of 2021, while total proﬁt attributable to shareholders has attained a billion-naira mark, having hit N1,017,432,947 from N923,095,723 in 2021.
The Group Managing Director, Eddie Efekoha, said the financial year 2022, was a remarkable one for Consolidated Hallmark Insurance Plc as it marked the 15th anniversary of the journey embarked upon in 2007.
He noted that it also was the beginning of another journey for the transformation of the company into a ﬁnancial powerhouse for the transaction of insurance and other ﬁnancial services under one formidable umbrella.
“We have truly progressed in that journey, having received your unwavering support and unanimous approval to embark on all necessary processes.
“There is cheering news by colleagues on the Board having, once again, to the best of our abilities, carried out the assignment you gave us – to grow your investments in this going concern. I am therefore pleased to inform you that year 2022, as the results now before you show, was another good outing for us.
We may not have achieved the very impressing outing we all continually craved for, but our modest growth in key ﬁnancial indicators is a good way to bid the quoted insurance stock farewell and welcome the Holding Company whose formal birth shall be announced soon,” he posited.