By Adedapo Adesanya
Consolidated Hallmark Insurance (CHI) has become a holding company, with five subsidiaries as part of efforts to boost its offering in the ever-changing market.
The holding company, Consolidated Hallmark Holding Company Plc, now stands as the parent body for Consolidated Hallmark Insurance Limited, CHI Micro Insurance Limited, CHI Health Management Organisation, CHI Capital Limited, and Grand Treasurers Limited.
The firm’s new expansion strategy comes with a change in the leadership structure of the organisation as the erstwhile Managing Director of Consolidated Hallmark Insurance, Mr Eddie Efekoha, has become the Managing Director of the nascent holding company while Mrs Mary Adeyanju has emerged as the Managing Director / Chief Executive Officer Consolidated Hallmark Insurance.
The development also saw the appointment of Mrs Katrina Itua as Executive Director of Finance and Investments for the insurance company while Mr Jimalex Orjiakor emerged as Executive Director of Operations of CHI Insurance firm.
Speaking on this, Mr Efekoha said investments in various businesses are the main priorities of the new holding company’s activities.
He added the holding company also has a penchant for profitability and good returns on investment while giving back to its host community, which is the Nigerian business environment where it operates.
Reading his scorecards as the erstwhile MD/CEO of the CHI underwriting firm, he said between the year 2007 when the company commenced business as Consolidated Hallmark Insurance, and as of 2023, it has recorded tremendous achievements.
He listed some of these achievements including a 351 per cent growth in the company’s balance sheet size from N4.65 billion to the current N21 billion, adding that there was an expansion in the number of licensed firms from one to five licensed firms’ capacity-building among its workforce and advancement in technology.
Mr Efekoha said the company has always ranked fifth among firms that submit its annual reports to the industry regulator even up to this year of transition to International Financing Reporting Standards 17 (IFRS17).
He also said the firm leveraged on “people and technology” to execute pet projects citing an example of essay competition for tertiary institution students.
Dipo Olowookere