The Chairman of Consolidated Hallmark Holdings Plc, Shuaib Idris, has declared that the group is fully prepared to navigate the structural adjustments triggered by the new insurance industry regulations.
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“Consolidated Hallmark is strategically positioned to benefit from the transition due to our strong capital base, disciplined management, and diversified revenue structure,” Idris stated at the company’s third Annual General Meeting held in Lagos.
“Consolidated Hallmark is strategically positioned to benefit from the transition due to our strong capital base, disciplined management, and diversified revenue structure,” Idris stated at the company’s third Annual General Meeting held in Lagos.
The chairman noted that the Nigerian Insurance Industry Reform Act 2025 would serve as a defining moment for the financial services sector.
“The reform will strengthen industry capacity through higher capital thresholds, stronger governance requirements, and improved operational efficiency. We see this not as a regulatory hurdle but as an opportunity to scale our operations, deepen retail insurance expansion, and roll out technology-driven products to capture underserved markets,” he noted.
The holding company reported strong operational growth for the 2025 financial year, with insurance revenue rising 47 per cent to N43.27bn, up from N29.42bn in 2024. Following the impressive top-line growth, the Board proposed a final dividend of 15 kobo per share. Combined with the interim dividend of 10 kobo already paid, the total dividend for the financial year stood at 25 kobo per ordinary share, representing the highest payout in the company’s history.
“This is the highest dividend that we have ever paid, and our aspiration is that with your support, we can continue on this growth trajectory into the future,” Idris told shareholders.
He explained that the Board adopted a balanced approach that rewards investors while retaining sufficient capital for future expansion. “We are mindful of the macroeconomic environment, and our payout strategy ensures we maintain the right buffer to drive long-term value,” he stated.
According to the group’s audited financial statements, net insurance service result surged 121 per cent from N3.10bn to N6.85bn after claims, reinsurance obligations, and other direct costs were settled. The group also recorded a 61 per cent rise in operating and non-insurance income, growing from N4.09bn in 2024 to N6.59bn in 2025.
Despite the strong operational performance, profit before tax declined from N22.65bn in 2024 to N8.44bn in 2025 due to a sharp drop in the mark-to-market valuation of the group’s capital market investments. Addressing the drop, Idris explained that the decline was largely an accounting treatment issue rather than a reflection of weak investment fundamentals.
“The fundamentals of the investment remain strong and hold better prospects for the future. The paper variations in market pricing do not diminish the intrinsic health of our underlying assets,” he reassured.
The company’s balance sheet remained robust during the period under review. Cash and cash equivalents rose 96 per cent from N3.76bn in 2024 to N7.38bn in 2025, while financial assets increased 65 per cent from N27.88bn to N45.90bn. Total assets expanded 33 per cent to close at N75.94bn in 2025, while shareholders’ funds grew 21 per cent.
The company said it plans to deepen its focus on retail market expansion, digital distribution networks, and microinsurance platforms in the remaining months of 2026 to cushion the impact of broader macroeconomic challenges.
