Despite worries about economic challenges in the country, Consolidated Hallmark Insurance (CHI) Plc has recorded profit-before-tax (PBT) of N772 million in its financial year ended December 31, 2020.
This represents a growth of 8.6 per cent from the N711 million recorded in the previous year. The audited result, as approved by both the capital market and the National Insurance Commission (NAICOM), shows that the general insurer posted a gross premium written of N9.77 billion, representing a 12 per cent growth when compared with N 8.7 billion reported in 2019.
A further review of the result shows positive performance across key financial indices despite the unprecedented challenges that came with the COVID-19 pandemic.
The claims expenses of the group jumped by 21 per cent from N3.44 billion in 2019 to N4.17 billion in 2020 as the company continued to maintain its sterling reputation of ensuring that customers get value through prompt payment of all valid claims.
The group’s…
Source: Guardian Newspaper
