Connect with us

Business

Consolidated Hallmark Insurance Records N10.5bn Gross Premium Written

Published

on

Consolidated Hallmark Insurance(CHI) Plc has recorded N10.5 billion gross premium written(GPW) in its 2021 financial year end, even as the National Insurance Commission (NAICOM) approved its account.

The 2021 financial statement of the group, which was published by the Nigerian Exchange Group (NGX), yesterday, showed the the gross premium written represented  7.4 per cent growth over the N9.8 billion recorded in the corresponding period of 2020.

The Profit Before Tax grew by 26% , from N772.5million in 2020 to N971.6million in 2021,  while Profit After Tax grew by 17%, from N677.9 million in 2020 to N790.6million in 2021. Similarly, the group’s total assets rose from N14.3 billion in 2020 to N15.7 billion in 2021, approximately 10% growth.

Speaking on this results, the group managing director/CEO of the firm, Mr. Eddie Efekoha attributed the result to diligence by different arms of the company that work on the financial reporting process. He also acknowledged NAICOM’s positive contribution to ensuring that entities meet up with reporting deadlines to the capital market without compromising on the quality of financial reporting.

Efekoha expressed his delight at the continued improvement in the financial performance recorded by the group across its various member companies.  He said, the growth recorded in the Group’s bottom line reflects the prudent measures taken to increase shareholder value. He then assured its investors and other stakeholders that efforts will continually be focused on creating more value for its numerous investors and stakeholders.

Consolidated Hallmark Insurance Plc has become a one-stop-shop for insurance and other financial services with member companies having a bouquet of products in general insurance, micro life assurance, health management, finance and loans.

Nigerian Breweries Reaffirms Commitment To Sustainability Agenda

Nigerian Breweries Plc, the foremost brewing company, has restated its commitment to ensuring a sustainable and environmentally friendly agenda in its business operations across the country.

The reaffirmation was given by the managing director, Mr. Hans Essaadi during the company’s 76th Pre-AGM media briefing held in Lagos recently.

Essaadi noted that sustainability is a key pillar of the company’s strategy, which explained why it recorded significant progress in this direction in the last few years.

He further stressed that the company made significant investments in the last 12 months to meet this ambitious target by driving operational excellence in its existing assets while also promoting alternative energy solutions in its operations.

According to him, the company achieved a relative reduction in water consumption and carbon emission during its operations in the 2021 financial year.

“Over the last year, we have achieved 11.35% carbon emission in production. We have also reduced our water consumption from 3.80hl/hl in 2020 to 3.70hl/hl in 2021. We have achieved zero waste to landfill at 5 of our production sites and ended 2021 with an overall 95.6% waste diversion from landfills. We launched the sunshine crèche to promote diversity and inclusion”, he said.

He stated that in line with its ‘Brew a Better World’ sustainability agenda, the company has embarked on far-reaching initiatives geared towards improving the planet and making it a better place to live and thrive as a business.

He disclosed that the company was determined to deliver superior and balanced growth for the business through the HEINEKEN EverGreen strategy.

“As a 157-year-old company, we think in generations and deliver long-term, sustainable value creation. Our EverGreen strategy has been built from four foundational areas called the Green Diamond. EverGreen leverages our existing strengths and new opportunities to chart the next chapter of our growth”, he added.

He stressed further that the company would continue to channel investment in alternative energy sources for its production to reduce carbon emissions, which would consequently help in achieving an environmentally sustainable planet.

He assured stakeholders that the company remains committed to not only keeping its balance sheet strong but ensuring that the health, safety and welfare of its employees, customers, communities and partners are protected.

READ NOW |  Coinbase users can receive US tax refunds in crypto as part of TurboTax deal
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Facebook

Trending post

© 2022 Copyright suresource24. All Rights reserved.