Consolidated Hallmark Holdings Declares 25k Dividend, Revenue Rises By 47%
Consolidated Hallmark Holdings Plc has reassured shareholders, investors, and other stakeholders of the strong financial position of its insurance subsidiaries, declaring that both companies have successfully surpassed the requirements of the ongoing insurance industry recapitalization exercise and do not require fresh capital injection to continue operations.
Speaking at the 3rd Annual General Meeting of Consolidated Hallmark Holdings Plc held on May 21, 2026, at the Federal Palace Hotel, Lagos, the Group Chief Executive Officer, Eddie Efekoha, disclosed that the Group’s insurance subsidiaries, Consolidated Hallmark Insurance Plc and CHI Life Assurance Limited, have comfortably exceeded the new capital thresholds introduced under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
According to him, the National Insurance Commission (NAICOM) is expected to formally announce the capital and solvency adequacy status of both companies following successful verification exercises already conducted by the regulatory authority.
“You are all aware of the Nigerian Insurance Industry Reform Act 2025 which prescribed N15 billion and N10 billion for non-life and life insurance companies respectively. Your companies have gone far above those requirements. There will be no need for fresh funds as the companies are already well-capitalized and verified by NAICOM,” Efekoha stated while responding to shareholders’ questions during the meeting.
He noted that the successful verification exercise further reinforces the Group’s financial resilience and strategic readiness to thrive in the evolving insurance landscape.
The Group also comprises Hallmark Finance Company Limited and Hallmark Health Services Limited, also known as Hallmark HMO.
Earlier in his address to shareholders, the Chairman of Consolidated Hallmark Holdings Plc, Shuaibu Idris, announced that the Group recorded strong growth across major financial indicators for the year ended December 31, 2025, driven by improved underwriting performance, prudent risk management, and enhanced operational efficiency across its subsidiaries.
“For the year under review, all the companies within the Group grew their operating income and returned profits, though at varying levels,” Idris said.
He revealed that the Group recorded a 61 per cent increase in operating and non-insurance income from N4.09 billion in 2024 to N6.59 billion in 2025, while insurance revenue rose significantly by 47 per cent from N29.42 billion to N43.27 billion within the same period.
The Chairman further disclosed that the Group’s net insurance service result surged by 121 per cent from N3.10 billion in 2024 to N6.85 billion in 2025 after settling claims, reinsurance obligations, and other direct costs.
Despite the impressive operational performance, Idris explained that profit before tax declined from N22.65 billion in 2024 to N8.44 billion in 2025 due to a temporary drop in the mark-to-market valuation of the Group’s capital market investments.
“The fundamentals of the investments remain strong and hold better prospects for the future,” he assured shareholders.
He also highlighted the Group’s strong balance sheet position, noting that cash and cash equivalents increased by 96 per cent from N3.76 billion to N7.38 billion, while financial assets rose by 65 per cent from N27.88 billion to N45.90 billion.
According to him, total assets grew by 33 per cent from N56.95 billion in 2024 to N75.94 billion in 2025, while shareholders’ funds also appreciated by 21 per cent during the review period.
“In a year where volatility became the norm, consistency and diversification remained our greatest strengths,” Idris remarked, while thanking shareholders for their unwavering confidence and support.
On shareholders’ returns, the Chairman stated that the Board adopted a balanced dividend policy designed to reward shareholders while retaining sufficient capital to support future expansion and innovation.
Consequently, the Board proposed a final dividend of 15 kobo per share which, when combined with the interim dividend of 10 kobo already paid earlier in the year, brings the total dividend for the 2025 financial year to 25 kobo per share.
“This is the highest dividend we have ever paid, and our aspiration is to sustain this growth trajectory with your continued support,” Idris added.
Speaking further on the operating environment, Efekoha acknowledged that the 2025 financial year was shaped by inflationary pressures, exchange rate volatility, rising interest rates, and weakened consumer spending, all of which increased operating costs and tightened access to affordable credit.
Despite these macroeconomic challenges, he emphasized that the insurance industry remained critical as businesses and individuals increasingly sought reliable financial protection in uncertain times.
According to him, Consolidated Hallmark Holdings Plc maintained resilience through disciplined underwriting practices, operational efficiency, and strategic cost optimization across its subsidiaries.
“Our Group does not require additional capital to meet the new regulatory thresholds. We are not under pressure to seek mergers or external funding because our capital base remains strong and adequate,” Efekoha affirmed.
Describing NIIRA 2025 as a strategic opportunity rather than a challenge, the Group CEO said the reforms position the Group for stronger market leadership and future expansion within the insurance industry.
He also reiterated the Group’s strategic expansion into the life assurance market following the acquisition of a Life Assurance licence.
As part of this growth drive, Efekoha disclosed that the Group is currently considering the acquisition of an existing life insurance portfolio to accelerate market penetration and strengthen revenue generation.
“Given the low penetration of life insurance in Nigeria, this presents significant growth opportunities for the Group,” he noted.
Looking ahead, he assured shareholders that the Board and management would remain focused on expanding revenue streams, improving operational efficiency, and pursuing strategic opportunities, including acquisitions, to sustain long-term growth and shareholder value.
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About Us:
Consolidated Hallmark Holdings Plc is a non-operating holding company focused on managing a portfolio of strategic investments across Nigeria’s financial services sector. Listed on the trading floor of the Nigerian Exchange Group in November 2023, the Group provides insurance, life assurance, healthcare, and financial solutions through its subsidiaries: Consolidated Hallmark Insurance Limited, CHI Life Assurance Limited, Hallmark Finance Company Limited, and Hallmark Health Services Limited. Together, these companies serve individuals, SMEs, and corporates with risk protection, health management, and financing solutions that support financial security and economic growth.
For more information, visit www.chhplc.com
Media Contact:
Ajibola Liyide
Head, Brand & Communications
brandandcomms@chhplc.com
