Consolidated Hallmark Insurance

What Consolidated Hallmark Insurance does

Consolidated Hallmark Insurance Plc (CHI, NGX ticker: CHI) is a Nigerian general insurance company founded in 2007 and headquartered in Lagos. The company underwrites a diversified portfolio of more than 20 insurance product lines spanning motor (third-party, comprehensive, and the enhanced CHI Prime product), home, travel, marine, oil & gas, aviation, fire and special perils, goods-in-transit, burglary, money, bonds, contractors-all-risk, plant-all-risk, professional indemnity, and group/personal accident coverage. Distribution operates through a 12-branch national network, a call center (0700CHINSURANCE), insurance brokers and agents, and digital self-service channels including the MYCHIPLC e-insurance portal and the MotorThirdPartyOnline platform, which enables online purchase of compulsory third-party motor cover.

Revenue is generated primarily through general insurance premiums, supplemented by microinsurance premiums from the CHI Microinsurance Limited subsidiary (targeting mass-market, low-income segments with N1,000-N5,000 products), investment income on float and reserves, and ancillary services from the broader group (Hallmark HMO, Grand Treasurers finance, CHI Capital). In 2022, CHI reported Gross Premium Written of N12.83 billion (up 22% YoY), Profit Before Tax of N1.41 billion (up 45% YoY), and total assets of N18.54 billion. The company is NIS ISO 9001:2015 certified and holds an Agusto & Co. Bbb credit rating (upgraded from Bbb- in 2019).

CHI serves both individual consumers and corporate/commercial clients across Nigeria, with a strategic emphasis on technology-driven distribution and financial inclusion. In 2022 the company announced its transition into Consolidated Hallmark Holdings Plc, a holding-company structure designed to consolidate insurance, microinsurance, health (HMO), and finance activities under a single umbrella, and shareholders have authorised exploration of mergers and acquisitions to support inorganic growth.

Name

Consolidated Hallmark Insurance

Legal name

Consolidated Hallmark Insurance Plc

Website

https://chiplc.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

251–500 employees

Short description

Consolidated Hallmark Insurance Plc is a Nigerian general insurance company underwriting 20+ product lines (motor, home, travel, oil & gas, aviation, marine) for retail and corporate customers, distributed through 12 branches and digital portals, with subsidiaries in microinsurance, HMO, and finance.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)

akta.pro primary industry

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

akta.pro secondary industries

Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Professional Umbrella / Excess (E&O/D&O Wrap) (FSAJANAH)

Keywords

• General insurance underwriting
• Motor vehicle insurance
• Microinsurance services
• Commercial property insurance
• Digital insurance platform

Headquarters

HQ city

Obanikoro

HQ country

Nigeria

HQ region

Africa

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. General Insurance Premiums: Core revenue from underwriting general insurance policies including motor, home, travel, marine, fire, personal accident, goods-in-transit, and commercial covers. Premiums are primarily one-time annual or multi-year policies with renewal revenue streams.
2. Microinsurance Premiums: Revenue from CHI Microinsurance subsidiary targeting low-income segments with affordable micro-life assurance products including Esusu Plan, Welfare Plan, Credit Life, Cooperative and Group Life Plans. Premiums as low as N1,000 to N5,000.
3. Investment Income: Investment returns on float and reserves generating investment income (N285 million in Q1 2021, up 27% from prior year)
4. Ancillary Financial Services: Revenue from subsidiaries including Hallmark HMO (health management) and Grand Treasurers Limited (CBN-licensed finance company providing SME and individual loans)

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Consolidated Hallmark Insurance is a leading Nigerian general insurance underwriter that sells motor, home, travel, marine, oil & gas, aviation, contractors-all-risk, plant-all-risk, machinery breakdown, personal accident, fire, burglary, money, bonds, professional indemnity, goods-in-transit, and other specialty insurance products to individuals and businesses. The company distributes through 12 branch offices, the MYCHIPLC digital portal, a call center, brokers, and (for microinsurance) partnerships with microfinance institutions and cooperatives, while operating wholly-owned subsidiaries in microinsurance, HMO, and finance.

Product overview

Consolidated Hallmark Insurance (CHI) Plc operates as a leading general business insurance company in Nigeria with a comprehensive portfolio of 24+ core insurance products covering motor, property, marine, aviation, oil & gas, liability, and specialty lines. The company has evolved into a diversified financial services group with four main subsidiaries: CHI MicroInsurance Limited (Micro Life Assurance), Hallmark Health Services Limited (HMO), Grand Treasurers Limited (Finance Company), and CHI Capital Limited. The product architecture consists of a core insurance platform supplemented by digital self-service capabilities through the MYCHIPLC e-insurance portal, enabling online policy purchase and management. The company serves both corporate and retail segments with products ranging from compulsory third-party motor insurance to specialized commercial covers, while its microinsurance subsidiary targets the previously uninsured mass market with affordable products priced from N1,000. The group emphasizes technology-driven service delivery including online motor insurance sales and digital claims processing.

Differentiator

Problem solved

Functional benefit

Brands

• CHI Microinsurance: Micro life assurance subsidiary targeting low-income segments and grassroots population with affordable insurance products.
• CHI Prime
• MyCHIPLC
• CHI Travel Insurance

Products and services

• Motor Third Party Insurance Compulsory third-party motor insurance covering liability to third parties for death, bodily injury, and property damage caused by the insured vehicle. Sold to vehicle owners across Nigeria via branches and the online platform.
• Motor Comprehensive Insurance Full-coverage motor insurance protecting against damage to the insured vehicle including fire, theft, third-party property damage, and bodily injury, available in 3, 6, and 12-month terms with addon options. For personal vehicle owners.
• Enhanced Motor Third Party (CHI Prime) Premium third-party motor insurance with extended coverage including own damage benefits resulting from accidents involving third parties; tiered coverage limits to suit different vehicle owner needs.
• Travel Insurance Insurance coverage for travelers providing protection against travel-related risks, sold to individuals undertaking trips for various occasions.
• Home Insurance Property insurance protecting homes and contents against specified risks including building coverage, content coverage, and household items. Targeted at Nigerian homeowners.
• Goods-In-Transit Insurance Insurance coverage for goods during transportation, protecting against loss or damage in transit; offered as All Risk Cover and Restricted Cover for various modes of conveyance. Targeted at logistics and transit operators.
• Marine Insurance Insurance coverage for marine cargo and vessels against loss or damage during transportation over water. Targeted at importers, exporters, and ship operators.
• Oil & Gas Insurance Specialized insurance coverage for the oil and gas industry sector, including related covers such as contractors-all-risk and plant-all-risk. Targeted at oil & gas companies.
• Aviation Insurance Insurance coverage for aviation risks including aircraft, liability, and cargo. Targeted at aviation businesses.
• Contractors-All-Risk Insurance Insurance coverage for construction projects covering damage to works, materials, and third-party liabilities during the construction period. Targeted at construction contractors and project owners.
• Plant-All-Risk Insurance Insurance coverage for plant and equipment against sudden and accidental breakdown and damage. Targeted at operators of industrial equipment and plants.
• Machinery Breakdown Insurance Insurance covering sudden and accidental breakdown of machinery and equipment. Targeted at industrial and commercial operators using significant machinery.
• Fire & Special Perils Insurance Property insurance covering buildings and contents against fire damage and special perils. Targeted at property owners and businesses.
• Burglary Insurance Insurance coverage against losses from burglary and theft. Targeted at homeowners and business premises.
• Money Insurance Insurance protection for cash and money in transit against loss or theft. Targeted at businesses handling significant cash movements.
• Bonds Insurance Surety bond insurance covering contractual obligations of the insured. Targeted at contractors and businesses requiring performance, bid, or compliance bonds.
• Personal Accident / Group & Personal Accident Insurance Coverage for individuals and groups against accidents, disability, and death, providing financial protection in the event of unforeseen incidents.
• Professional Indemnity Insurance Professional liability coverage protecting against claims arising from professional negligence. Targeted at professionals and service firms.
• All Risks Insurance Comprehensive coverage protecting against all risks except those specifically excluded. Targeted at property owners and businesses seeking broad asset protection.
• Consequential Loss Insurance Coverage for loss of income or increased cost of working resulting from insured damage. Targeted at businesses needing business interruption protection.
• Combined Fire & Burglary Insurance Combined coverage protecting against fire damage and burglary in a single policy. Targeted at homeowners and small businesses.
• Motor Third Party Fire & Theft Insurance Motor insurance covering third-party liability plus fire and theft risks to the insured vehicle.
• CHI Microinsurance Products (Esusu, Welfare, Credit Life, Cooperative Society, Group Life Plans) A suite of five micro-life assurance products (Esusu Plan, Credit Life Plan, Cooperative Society Plan, Welfare Plan, Group Life Plan) offered through CHI Microinsurance Limited with premiums from N1,000 to N5,000, maximum sum insured of N2 million, distributed via microfinance banks, cooperatives, and trade associations. Targeted at artisans, market women, micro-businesses, and low-income individuals.
• MYCHIPLC Digital Insurance Platform Online self-service portal enabling policy purchase, policy lookup, claims initiation, renewal, and certificate printing for motor, travel, home, gadget, and other insurance products without human interface. Available via einsurance.chiplc.com.

Quantifiable outcome

• PBT grew 45% from N971 million (2021) to N1.41 billion (2022)
• +4 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Lagos University Teaching Hospital (LUTH)minorStrategic or Co-development Partner · 21 June 2021Hallmark Health Services Limited (HMO subsidiary of Consolidated Hallmark) partnered with LUTH for voluntary blood donation drive to commemorate World Blood Donation Day. Employees participated in the blood donation exercise to help beef up the blood bank of the leading tertiary healthcare provider.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Leadway Assurance Company Limited: One of Nigeria's largest general insurers with broad P&C, life, and pensions offerings and extensive branch presence. Comparable general insurance product portfolio and customer base to CHI.
• Sovereign Trust Insurance Plc: Listed Nigerian general insurer with comparable motor, marine, fire, and oil & gas offerings. Overlaps directly with CHI on product mix and Nigerian retail/SME customer base.
• Veritas Kapital Assurance Plc: Listed Nigerian general insurer with motor, fire, marine, and oil & gas lines. Comparable mid-tier Nigerian P&C peer competing for the same retail and commercial customers as CHI.
• Cornerstone Insurance Plc: Nigerian insurer offering general and life products through branches and digital channels. Comparable mid-tier positioning, listed status, and product breadth to CHI.
• Custodian and Allied Insurance Plc: Listed Nigerian insurer offering general (P&C) and life products across motor, marine, aviation, oil & gas, and engineering. Similar scale, listing, and line-of-business overlap with CHI.
• AXA Mansard Insurance Plc: Leading Nigerian general insurance company offering motor, home, travel, marine, and commercial lines. Directly comparable to CHI on product breadth, distribution (branches + digital), and target customer base in Nigeria.
• AIICO Insurance Plc: Nigerian composite insurer covering general (P&C) and life insurance with a similar product set (motor, fire, marine, accident) and national branch network. Comparable in scale and listing status.

Others

• African Reinsurance Corporation (Africa Re): Pan-African reinsurer headquartered in Nigeria. Not a direct competitor to CHI in retail underwriting but acts as a reinsurance counterparty for Nigerian general insurers, making it a relevant industry peer for capital and risk-transfer dynamics.

Broad incumbents

• Sanlam Limited: Pan-African financial services group with insurance operations across multiple African markets including Nigeria (Sanlam General Insurance Nigeria). Comparable as a broader incumbent pursuing diversified financial services, similar to CHI's holding-company strategy.
• Old Mutual Limited: African-focused financial services group with insurance and investment operations across multiple countries. Comparable as a broader incumbent with cross-border insurance scale, relevant to CHI's regional ambitions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MyChiPlc
• Facebookfacebook.com/MyChiPlc
• LinkedInlinkedin.com/company/314131

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Consolidated Hallmark Insurance