Business
Consolidated Hallmark Pays N5.3bn claims in Four Months
BY NKECHI NAECHE-ESEZOBOR—Consolidated Hallmark Insurance Limited has paid over N5.3 billion in gross claims so far in 2026, reaffirming its unwavering commitment to prompt claims settlement and exceptional customer service delivery.
The claims paid across various business portfolios represent 37.8% of the total N14 billion claims settled during the full 2025 financial year, reflecting the company’s strong financial capacity and deliberate customer-centric approach to insurance operations.
The claims cut across several product lines including Motor Insurance, Fire Insurance, General Accident, Marine Insurance, Aviation, Oil & Gas, Engineering, Bond and Agric Insurance, further demonstrating the company’s extensive underwriting expertise and strategic role in supporting businesses and individuals across critical sectors of the Nigerian economy.
In addition, the company recorded reinsurance recoveries of N2.9 billion in 2026, compared to N6.8 billion achieved in the 2025 financial year, representing 41.4% of the previous year’s figures.
Speaking on the claims performance, the Managing Director/Chief Executive Officer, Mary Adeyanju, said the company remains committed to fulfilling its promise to customers by ensuring that every genuine and confirmed claim is settled promptly and professionally.
“We understands that the true value of insurance is revealed at the point of claims settlement. This is why we have continued to strengthen our claims management process to ensure that our customers receive timely support when it matters most.
“Our commitment is simple and unwavering; every genuine and confirmed claim will be paid promptly, transparently and professionally. We see our customers as partners, and we remain dedicated to protecting their businesses, investments and future with integrity and excellence.”
She further noted that the company’s consistent investment in people, technology and operational processes has significantly enhanced service efficiency and customer experience.
“As the risk landscape evolves, we are continuously innovating and improving our systems to serve our customers better. Our focus is not only to provide insurance coverage, but also to deliver confidence, stability and peace of mind to every policyholder,” she added.
Leveraging the capabilities and unique strengths within the group,the company continues to provide premium risk management solutions tailored to meet the needs of corporate organisations, SMEs and individuals.
The company’s impressive claims settlement record remains a testament to its financial strength, technical expertise and reliability as a trusted insurance partner in Nigeria. Customers seeking dependable insurance solutions are encouraged to explore the company’s wide range of products designed to protect lives, assets, businesses and investments against unforeseen risks.
Meanwhile, the Group Chief Executive Officer of Consolidated Hallmark Holdings Plc, Eddie Efekoha, has confirmed that the Group will declare a final dividend of 15 kobo per share at its Annual General Meeting scheduled for May 21, 2026. Combined with the 10 kobo interim dividend paid in 2025, this brings the total dividend for the period to 25 kobo per share, further reflecting the Group’s commitment to delivering value to shareholders.
About Us:
Consolidated Hallmark Insurance is one of the leading General Business and Special Risk Insurance underwriters in Nigeria. Over the years, the company has played a leadership role in the underwriting of key transactions in Aviation, Oil & Gas, Marine Cargo and Hull Business as well as in Motor insurance business. We have built a reputation on Professionalism, Integrity and Excellent Service Delivery. Leveraging on the capabilities and unique skills of the entire group, we provide premium risk management solutions to our clients. Our commitment to serving you better has seen us make key investments in our People, Technology and Processes.
The post Consolidated Hallmark Pays N5.3bn claims in Four Months appeared first on Business Today NG.
The executive secretary of UN Climate Change, Simon Stiell, told the ministers at COP31 that climate finance must be redesigned to lift developing countries out of a cycle of debt and disaster, adding that meeting a headline figure will not do it.
“Meeting a financial target does not always meet countries’ needs. To do that, we need to look at how finance is delivered,” Mr Stiell said on Friday at the opening of a high-level ministerial dialogue on climate finance in Antalya, Turkey.
Countries agreed at COP29 that developed nations would lead in providing $300 billion a year by 2035, as part of a wider effort to raise $1.3 trillion annually from all sources.
Mr Stiell said the roadmap for reaching those sums “must become reality”, but that the terms of the money mattered as much as the amount.
“Many developing countries are trapped in a downward loop of debt, disaster, and devastating capital costs,” he said. “The threat of floods, fires, storms and droughts hangs over them, pushing up the price of borrowing even before disaster strikes.”
He stated that the terms of finance should reflect each country’s debt position.
“Private finance, loans and guarantees are essential to achieving our collective goals. But grant-based and highly concessional finance will remain critical, particularly for Least Developed Countries, Small Island Developing States and other very vulnerable economies,” he said.
According to him, broader action on debt is also needed to prevent countries from being forced to choose between repayments and resilience.
International climate finance for developing countries reached about $137 billion in 2024, and almost 70 per cent of it came in the form of loans, according to a UN Women flagship report released on Tuesday in Antalya.
Countries in sub-Saharan Africa paid more than twice as much in external debt service between 2021 and 2023 as they received in climate finance, according to an analysis published by the Heinrich Böll Foundation.
The analysis found that interest payments consumed more than 10 per cent of government revenue in 27 African countries in 2024.
The chair of the African Group of Negotiators, Nana Antwi-Boasiako Amoah, has said that a transition could not be called just if poorer countries have to “mortgage their futures” to pay for it.
The group lost a bid on Monday for a separate agenda item on tripling adaptation finance. It now wants the target prioritised in the summit’s cover decision.
Nigeria is not on the UN’s list of least developed countries, which places it among the states the UN climate chief expects to rely more on loans, guarantees and private capital.
It needs about $337 billion between 2026 and 2035 to implement its climate commitments, according to the National Council on Climate Change.
Omotenioye Majekodunmi, the agency’s director-general, said more than 80 per cent of that will have to come from private investment, commercial debt, and international carbon finance.
About $2.5 billion a year went to climate action in Nigeria in 2021 and 2022, counting domestic and international sources, according to the Climate Policy Initiative’s tracking.
The dialogue was the last in a series that began in 2013, and its conclusions will go to COP32 in Ethiopia next year, Mr Stiell said.
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