CONSOLIDATED HALLMARK INSURANCE : QUARTER 4 - FINANCIAL STATEMENT FOR 2021

CONSOLIDATED HALLMARK INSURANCE PLC

AND SUBSIDIARY COMPANIES

COMPANY RC:168762

INTERIM FINANCIAL STATEMENT

FOR THE PERIOD ENDED 31 DECEMBER 2021

CONSOLIDATED HALLMARK INSURANCE PLC AND SUBSIDIARY COMPANIES INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2021

INDEX

Statement of Accounting Policies

Statement of Financial Position

Statement of Comprehensive Income

Revenue Accounts

Statement of Cash Flows

Notes on the Accounts

Additional Information/Disclosure Requirement

CHI PLC December 2021	Page 1

CONSOLIDATED HALLMARK INSURANCE PLC AND SUBSIDIARY COMPANIES INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2021

General Information;

The Group

The group comprises of Consolidated Hallmark Insurance Plc (the company) and its subsidiaries - CHI Capital Limited, Hallmark Health Services Limited, CHI Microinsurance Limited (in formation) and Grand Treasurers Limited. CHI Capital Limited has one wholly owned subsidiary 'CHI Support Services Limited'.

Company Information:

Consolidated Hallmark Insurance Plc (formerly Consolidated Risk Insurers Plc) was incorporated on 2 August 1991 and domiciled in Nigeria. The address of the company registered office is 266 Ikorodu road Lagos (formerly plot 33d Bishop Aboyade Cole Street, Victoria Island, Lagos).

The Company changed its name from Consolidated Risk Insurers Plc to Consolidated Hallmark Insurance Plc following its merger with Hallmark Assurance Plc and The Nigerian General Insurance Company Limited in line with the consolidation reform of the National Insurance Commission (NAICOM) announced in 2005. Consolidated Hallmark Insurance Plc came into effect from 1 March 2007.

These consolidated and separate financial statements have been authorized for issue by the Board of Directors on 31 DECEMBER 2021.

Securities Trading Policy

In compliance with Rule 17.15 Disclosure of Dealings in Issuers' Shares, Rulebook of the Exchange 2015 (Issuers Rule) Consolidated Hallmark Insurance Plc maintains a Security Trading Policy which guides Directors, Audit Committee members, employees and all individuals categorized as insiders as to their dealing in the Company's securities. The Policy is periodically reviewed by the Board and updated. The Company has made specific inquiries of all its directors and other insiders and is not aware of any infringement of the policy during the period under review.

CHI PLC December 2021	Page 2

CONSOLIDATED HALLMARK INSURANCE PLC AND SUBSIDIARY COMPANIES

INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2021

Hypothetical Case on Free Float Computation

Directors	Direct	Indirect	Total	December 31, 2020	Direct	Indirect	Total	December 31, 2021
			As at December	As at	As at December		As at December	As at	As at December
			December	% of Holding	December	% of Holding
			2020	2020	2020		2021	2021	2021
Issued ShareCapital			10,840,000,000	100%			10,840,000,000	100%
Mr. Obinna Ekezie	-	526,537,893	526,537,893	4.86%	-	526,537,893	526,537,893	4.86%
Mrs. Adebola Odukale	-	1,151,979,358	1,151,979,358	10.63%		1,151,979,358	1,151,979,358	10.63%
Mr. Eddie Efekoha	1,040,000,000	586,798,809	1,626,798,809	15.01%	1,040,000,000	586,798,809	1,626,798,809	15.01%
Mrs. Ngozi Nkem	277,333,333	659,326,671	936,660,004	8.64%	277,333,333	659,326,671	936,660,004	8.64%
Dr. Layi Fatona		2,818,442,750	2,818,442,750	26.00%		2,818,442,750	2,818,442,750	26.00%
					7,060,418,814	65.13%	1,317,333,333	5,743,085,481	7,060,418,814	65.13%
Directors' Shareholdings (direct and indirect), excluding directors with substantial interests
Mr. Babatunde Daramola	26,834,481		26,834,481	0.25%	26,834,481		26,834,481	0.25%
Mrs. Mary Adeyanju	33,953,777		33,953,777	0.31%	33,953,777		33,953,777	0.31%
Prince Ben Onuora	43,655,598		43,655,598	0.40%	43,655,598		43,655,598	0.40%
					104,443,856	0.96%			104,443,856	0.96%
Other Influential Shareholdings			-				-
Free Float inUnits and Percentage		3,675,137,330	33.90%			3,675,137,330	33.90%
Free Float inValue			1,837,568,665.00				1,837,568,665

1. CONSOLIDATED HALLMARK INSURANCE Plc with a free float percentage of 33.90% as at 31 December 2021, is compliant with The Exchange's free float requirements for companies listed on the Main Board.
2. CONSOLIDATED HALLMARK INSURANCE Plc with a free float value of N1,837,568,665 as at 31 December 2021, is compliant with The Exchange's free float requirements for companies listed on the Main Board.

Principal Activities

Consolidated Hallmark Insurance Plc is a General Business and Special Risks Insurance underwriting firm fully capitalized in line with statutory requirements of the industry regulatory body - National Insurance Commission. The company underwrites Aviation, Oil and Gas, Marine Cargo and Hull and other non - life insurance underwriting including Motor, Fire and Special Perils, Goods-in-transit, Engineering Insurance and General Accident insurance businesses.

The Company identifies prompt claims payment as a means to achieving customer satisfaction and therefore emphasizes prompt claims payment in its operations. The company also invests its available funds in interest bearing and highly liquid instruments to generate adequate returns to meet its claims obligations.

The Company is a public limited company incorporated and domiciled in Nigeria. Its shares are listed on the floor of the Nigerian Stock Exchange and have its registered office at Consolidated Hallmark House, 266, Ikorodu Road, Lagos.

CHI PLC December 2021	Page 3

CONSOLIDATED HALLMARK INSURANCE PLC AND SUBSIDIARY COMPANIES INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2021

Going concern assessment

These consolidated financial statements have been prepared on a going concern basis. The group has neither intention nor need to reduce substantially its business operations. The management believes that the going concern assumption is appropriate for the group and there are no going concern threats to the operations of the group.

Assessment of Impact of Covid 19 on Going Concern

The effect of Covid 19 was not too pronounced on the performance of the Group at the end

of the Quarter three 2021, The company has fully adjusted to a mix of staff working from the office and some working remotely. The Marketing and Operations staff have fully resumed.

Subsidiaries;

CHI Microinsurance Limited

CHI Microinsurance Limited is a fully owned subsidiary of Consolidated Hallmark Insurance Plc, incorporated in 2016 and licensed by NAICOM in 2021 to provide Life microinsurance services. Microinsurance is a financial arrangement to protect low-income people against specific perils in exchange for regular premium payment proportionate to the likelihood and cost of risk involved.

CHI Capital Limited

CHI Capital Limited is a fully owned subsidiary of Consolidated Hallmark Insurance Plc. It carries on the business of consumer leasing and corporate support services. CHI Capital Limited incorporated CHI Support Services Limited in 2014 with 100% shareholdings.

CHI Support Services Limited is a company incorporated under the Companies and Allied Matters Act CAP C20 LFN 2004, as a limited liability company in 2014 and authorised by the Nigerian Communication Commission to provide the service of tracking vehicles. CHI Support Services was incorporated in Nigeria.

Grand Treasurers Limited

Grand Treasurers Limited was indirect subsidiary of Consolidated Hallmark Insurance up to November 2019 before the Board of CHI Capital limited transferred Her holding 100% to the Parent (Consolidated Hallmark Insurance Plc).

Grand Treasurers Limited is now a direct subsidiary of the Consolidated Hallmark Insurance Plc. The business of the company is consumer lending, lease financing and other finance company business.

Hallmark Health Services Ltd

Hallmark Health Services Ltd is a fully owned subsidiary of Consolidated Hallmark Insurance Plc. Incorporated in 2017. It is envisioned to be a leading health insurance company to meet the need for quality health maintenance services providing affordable and lasting health care plan for all Nigerians

CHI PLC December 2021	Page 4