CHI urges brokers to drive insurance growth after recapitalisation

Consolidated Hallmark Insurance Limited (CHI), a subsidiary of Consolidated Hallmark Holdings Plc, is calling for enhanced collaboration between insurance companies and brokers as Nigeria's insurance sector navigates the post-recapitalization phase. The call to action came during the South-South Brokers’ Professional Evening in Port Harcourt, themed “Recapitalization: Aftermath and the Next Phase of Growth.”

Amaka Ogebedaigo, Chairman of the Nigerian Council of Registered Insurance Brokers (NCRIB) South-South Committee, stressed the importance of collaboration in moving the industry forward after the recapitalization exercise. Mary Adeyanju, Managing Director and CEO of CHI, stated that recapitalization has shifted the industry's focus from mere survival to achieving growth and creating value. She affirmed CHI's readiness to expand its business, adopt innovation, and improve value delivery to both customers and broker partners.

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recapitalisation has shifted the industry’s focus from survival to growth and value creation.

Adeyanju highlighted the critical role of professional brokers, who account for approximately 80 percent of CHI's business, in the company's growth strategy and efforts to increase insurance penetration. She presented CHI's strong financial standing as of July 2026: shareholders' funds reached N61 billion, total assets stood at N91.9 billion, and insurance revenue had risen to N33.6 billion. Profit before tax was N27.9 billion, and profit after tax was N27.4 billion in the second quarter. The company had also paid N9.3 billion in claims year-to-date, with assets exceeding liabilities by N47.8 billion and a solvency margin of N35.6 billion.

Adeyanju noted that these figures signify more than just financial strength; a robust balance sheet enables insurers to improve claims settlement, expand market reach, invest in technology, and build greater policyholder confidence. CHI's growth strategy heavily features digital transformation, with investments in initiatives like a free API-enabled Marine Insurance Portal for certificate generation, Curacel for motor inspections and claims processing, and the upcoming enterprise platform TrustFort to boost operational efficiency. The company is also redesigning its website to streamline the customer journey from policy purchase to claims processing.

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a stronger balance sheet should enable insurers to improve claims settlement, expand their markets, invest in technology and build greater confidence among policyholders.