Consolidated Hallmark Insurance posts HY pre-tax profit 246.9 mln naira

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  • HY ENDED JUNE 2017 GROUP NET UNDERWRITING INCOME 2.31 BILLION NAIRA VERSUS 2.08 BILLION NAIRA YEAR AGO
  • HY GOUP PROFIT BEFORE TAXATION 246.9 MILLION NAIRA VERSUS 422.3 MILLION NAIRA YEAR AGO

Consolidated Hallmark Insurance plc is reporting 54% fall in net profit for the second quarter 2017, profit for the year fell to NGN119.0 billion compared to NGN259.1 billion in the same quarter 2016.

The insurance company said is gross premium fell to NGN3.1 trillion from NGN3.2 trillion reported in the year before and reinsurance expenses lowered to NGN1.0 trillion against NGN1.3 trillion in the previous year.

Net income increased to NGN2.1 trillion from NGN1.9 trillion posted in the fiscal year 2016 while investment income was higher at NGN387.3 billion compared to NGN192.1 billion in the previous year.

Total asset was NGN8.7 billion to NGN7.7 trillion acquired same period 2016 while total liabilities was NGN4.3 billion versus NGN3.2 billion in the year before

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