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CHI Plc returns to Profitability

Foremost Insurer, Consolidated Hallmark Insurance (CHI Plc) has returned to profitability, going by the 2014 Financial Results of the company recently approved by the various Regulators, and made available to investors on the trading floor of the Nigerian Stock Exchange (NSE).
 
CHI Plc has posted a Premium Income of N4,678,556,485 when compared with the N4,151,298,704 recorded during the 2013 Financial Year. While the company also recorded an underwriting profit of N863,244,006, compared to N1,057,117,228 in 2013, The profit attributable to Equity Holders of the parent company took a forward leap from a negative position of  (N200, 555,035) in 2013 to yield N193,076,785 in 2014.
 
The results have brought to fruition, the assurance to shareholders by the Managing Director/CEO, Mr Eddie Efekoha during the Annual General Meeting at Uyo in 2014 that “with the outstanding premium debacle ended in the industry and particularly for our company, it is a very strong signal of better days of profitability ahead”.
 
It is indeed, a promise fulfilled as the company’s 2014 Accounts have shown. CHI is one of the few industry players that have so far received the approval of the industry and other regulators for their 2014 Financials.
 
Meanwhile, arrangements are ongoing for the 20th Annual General Meeting of the company, holding on a date to be announced soon.

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