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Consolidated Hallmark Insurance has announced plans to begin the operations of a micro-life insurance early 2020, having paid the statutory deposit and licence application fee to the Central Bank of Nigeria (CBN) and National Insurance Commission (NAICOM) respectively.
The company’s Chairman, Obinna Ekezie, disclosed this at the companies Extra-Ordinary Meeting (EOM) in Lagos.
He said, “I am also delighted to inform you that we are on the verge of being granted an operational license by the National Insurance Commission to operate a micro-life insurance subsidiary. Statutory deposit and license application fee have been paid to the Central Bank of Nigeria and NAICOM respectively. The anticipated commencement date of full operations by this subsidiary is early in the new year.
“We believe firmly that with your approval and continued support, your company will emerge a stronger and more formidable player in the sector, adequately equipped to meet the growing needs of our rapidly expanding clientele and with the ability to retain a higher proportion of risks hitherto ceded,” he said.
