Consolidated Hallmark Insurance (CHI) Plc has recorded a 120% growth in Profit After Tax for the Third Quarter Ended 30th September 2015, when compared with the corresponding period in the preceding Financial Year.
The unaudited results which have been presented to Shareholders of the company by the Nigerian Stock Exchange show that the Profit After Tax rose from N176,781,230 during the nine months ended September 2014 to N389,749,440, a growth of 120%.
There was also an improvement in the Gross Premium income during the period under review, having increased revenue in this area from N3,872,133,111 to N4,939,411,645 despite the increasing competition in the industry and difficult operating terrain.
Further details of the result reveal a 64% growth in Underwriting Profit as Consolidated Hallmark posted N1,258,313,645 when compared with N768,309,168 for the 3rd Quarter Ended 30th September, 2014.
The Managing Director of the company, Mr Eddie Efekoha, attributed the modest results to the high premium CHI has continued to place on customer service and the attention given to prompt claims settlement. The amount expended on Claims by the company during the period rose to N902,208,592 from N826,149, 943 spent during the corresponding period in 2014.
CHI is desirous of maintaining her excellent customer service reputation and is currently leveraging on technology to ensure seamless transactions through the deployment of e-payment channels, whilst also engaging more with her numerous customers through the social media platforms.