• About Us
  • Privacy Policy
No Result
View All Result
Express Day
  • Home
  • NEWS
    • Politics
    • Health
    • Education
    • Crime
    • Judiciary
    • Environment
    • Science & Technology
  • BUSINESS
    • Finance
    • Insurance
    • Agriculture
    • Aviation
    • Energy
    • ICT
    • Maritime & Transport
  • INVESTIGATIONS
  • ENTERTAINMENT & ARTS
  • SPORTS
Express Day
No Result
View All Result
Home BUSINESS Finance

CONSOLIDATED HALLMARK PROFIT GROWS TO N519.6 IN Q3

ExpressDay by ExpressDay
November 25, 2019
in Finance, Insurance
0
CONSOLIDATED HALLMARK PROFIT GROWS TO N519.6 IN Q3
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

Consolidated Hallmark Insurance Plc, one of the leading underwriting firms in Nigeria has posted a Profit-After-Tax (PAT) of N519.6 million in its third quarter 2019 results, as against the N355.9 million recorded in the corresponding period of 2018, representing a 46 per cent rise.

The company’s stocks were the highest gainer in percentage terms in the month of October on the floor of the Nigerian Stock Exchange (NSE), garnering over 40 per cent.

This was expressed in its Group Unaudited Financial Results for the period ended September 30, 2019 presented to the Nigerian Stock Exchange.

The result also revealed significant improvements in other indices. Gross Premium Written for the period grew by 23.7% to N6.687 billion from N5.404 billion reported in September 2018. Also, Total Assets of the Group rose to N11.159 billion from N10.821 billion during the corresponding period.

Commenting on the financial result, the Managing Director/CEO of Consolidated Hallmark Insurance Plc, Eddie Efekoha, expressed delight with the company’s consistent impressive performance. He said the unwavering support of the Board and Management of the company was pivotal to the success being recorded.

According to him, “the strong performance reflects the Board and Management’s commitment towards rewarding our shareholders with good returns. There is no gainsaying that consistent improvement is also being driven by the increased confidence of our customers.”

He expressed confidence that the company will successfully beef up its capital base further, ahead of the June 2020 deadline by NAICOM, in view of positive investor confidence displayed during the earlier proactive efforts by the board to raise N500 million through a Rights Issue and an additional N734 million through a Private Placement, both of which, according to him, were fully subscribed even before the recent recapitalization mandated by the National Insurance Commission (NAICOM).

The growing level of confidence reposed in the company by investors, he said, is further attested to by the recent performance of the stock on the floor of the Nigerian Stock Exchange (NSE) as the highest gainer in percentage terms during the month of October, 2019, having garnered over 40% during the month on the strength of positive sentiments.

Recently, CHI Plc improved its credit rating Agusto & Co. from Bbb- to a Bbb. The rating symbolizes a ‘stable’ outlook and potential for growth with a definition as Insurer with a satisfactory financial condition and adequate capacity to meet claim obligations. The rating which is an upgrade from the previous ‘Bbb-‘ reflects the company’s good liquidity, excellent asset quality, as well as a very experienced management team.

Previous Post

GUINEA INSURANCE GETS NEW MD/CEO

Next Post

OSINBAJO SEEKS BETTERT STATE GOVTS’ APPROACH TO END GENDER-BASED VIOLENCE

ExpressDay

ExpressDay

Next Post
OSINBAJO SEEKS BETTERT STATE GOVTS’ APPROACH  TO END GENDER-BASED VIOLENCE

OSINBAJO SEEKS BETTERT STATE GOVTS’ APPROACH TO END GENDER-BASED VIOLENCE

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • Trending
  • Comments
  • Latest
Tinubu appoints new CEO for Refugees Commission

Tinubu appoints new CEO for Refugees Commission

September 15, 2023
Udochi Union celebrates Edo lawyer now Justice Commissioner in Kaduna 

Udochi Union celebrates Edo lawyer now Justice Commissioner in Kaduna 

September 25, 2023
Ofobrukueta lauds Gov Oborevwori for engaging Julius Berger to fix Delta roads

Ofobrukueta lauds Gov Oborevwori for engaging Julius Berger to fix Delta roads

September 22, 2023
Rising Diphtheria deaths: Is FG doing enough to tackle it?

Rising Diphtheria deaths: Is FG doing enough to tackle it?

September 27, 2023
Good governance will check military coups — Ganduje

Good governance will check military coups — Ganduje

October 1, 2023
Independence: Bishop Onuoha warns leaders against ‘highway of corruption, selfishness’

Independence: Bishop Onuoha warns leaders against ‘highway of corruption, selfishness’

October 1, 2023
President Bola Ahmed Tinubu’s Independence Day Anniversary Broadcast (October 1, 2023)

President Bola Ahmed Tinubu’s Independence Day Anniversary Broadcast (October 1, 2023)

October 1, 2023
Subsidy: Tinubu approves N25,000 monthly for junior workers

Subsidy: Tinubu approves N25,000 monthly for junior workers

October 1, 2023

Recent News

Good governance will check military coups — Ganduje

Good governance will check military coups — Ganduje

October 1, 2023
Independence: Bishop Onuoha warns leaders against ‘highway of corruption, selfishness’

Independence: Bishop Onuoha warns leaders against ‘highway of corruption, selfishness’

October 1, 2023
President Bola Ahmed Tinubu’s Independence Day Anniversary Broadcast (October 1, 2023)

President Bola Ahmed Tinubu’s Independence Day Anniversary Broadcast (October 1, 2023)

October 1, 2023
Subsidy: Tinubu approves N25,000 monthly for junior workers

Subsidy: Tinubu approves N25,000 monthly for junior workers

October 1, 2023

Follow Us

Browse by Category

  • Agriculture
  • Aviation
  • BUSINESS
  • Crime
  • Economy
  • Education
  • Energy
  • ENTERTAINMENT & ARTS
  • Environment
  • Feature
  • Finance
  • FOREIGN
  • Health
  • ICT
  • Insurance
  • INTERVIEW
  • INVESTIGATIONS
  • Judiciary
  • Maritime & Transport
  • Metro
  • NEWS
  • Oil and Gas
  • OPINION
  • PHOTO NEWS
  • Politics
  • Science & Technology
  • Security
  • SPORTS
  • TOP STORIES
  • Tourism

Recent News

Good governance will check military coups — Ganduje

Good governance will check military coups — Ganduje

October 1, 2023
Independence: Bishop Onuoha warns leaders against ‘highway of corruption, selfishness’

Independence: Bishop Onuoha warns leaders against ‘highway of corruption, selfishness’

October 1, 2023
  • About Us
  • Privacy Policy

© 2022 Express Day

No Result
View All Result
  • Home
  • NEWS
  • BUSINESS
  • INVESTIGATIONS
  • ENTERTAINMENT & ARTS
  • SPORTS

© 2022 Express Day