Consolidated Hallmark Holdings Plc entered its first year as a holding company with bold ambitions, and by the close of 2024, it delivered on them.
The group grew profit before tax to ₦23.2 billion, a 404% surge from ₦4.7 billion in 2023.
Strategy Paying Off
At the second Annual General Meeting in Lagos, Chairman Shuaibu Idris emphasised that foresight drove this performance.
He explained how years of patient investment in the oil and gas sector finally paid off, fuelling the group’s transformation.
As a result, total assets jumped 117% to ₦56.9 billion.
At the same time, insurance revenue nearly doubled to ₦29.42 billion, while profit attributable to shareholders soared to ₦22.58 billion from ₦3.8 billion.
Looking forward, Idris highlighted the group’s life insurance licence, which now opens access to long-term funds for investment in critical sectors of the Nigerian economy.
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He assured investors that the group would keep exploring opportunities while maintaining strict risk management.
Future Growth Path
Meanwhile, Group Chief Executive Officer Eddie Efekoha recounted the strategic journey that reshaped the business.
He said the seamless delisting of Consolidated Hallmark Insurance Plc and the listing of Consolidated Hallmark Holdings Plc gave the group stronger leadership, broader diversification, and better asset protection.
Efekoha then stressed that the group honours all genuine claims swiftly, strengthening both its solvency and brand trust.
Furthermore, he noted that the company began executing a three-year strategic plan with PwC, and early results already confirm its effectiveness.
With CHI Life expanding its footprint in life assurance, Efekoha concluded that the group now stands positioned to capture long-term opportunities and sustain growth in Nigeria’s evolving market.
