Consolidated Hallmark Holdings Plc reported a sharp surge in profit for the first half of 2026, as a substantial increase in investment income more than offset weaker performance from its insurance service operations.
The group’s profit after tax rose to N25.28 billion for the six months ended June 30, 2026, from N1.16 billion in the corresponding period of 2025, representing a 2,083 percent increase.
Profit before tax climbed to N27.10 billion from N1.76 billion, while net income rose to N27.12 billion from N1.89 billion.
The surge in earnings was driven by the group’s investment result, which jumped to N27.33 billion from N1.23 billion in the prior-year period. The increase was largely supported by N24.01 billion in net fair value gains on financial assets, compared with a N2.15 billion loss recorded a year earlier. Interest income also increased to N3.30 billion from N2.23 billion.
In contrast, the insurance service result declined by 19.9 percent to N2.61 billion, from N3.26 billion in the first half of 2025. Insurance revenue rose to N25.04 billion from N22.93 billion, but this was offset by a sharp increase in net expenses from reinsurance contracts, which rose to N5.46 billion from N2.76 billion. Insurance service expenses were broadly unchanged at N16.96 billion, compared with N16.91 billion a year earlier.
Other operating expenses increased by 8.3 percent to N2.82 billion from N2.60 billion.
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The figures point to a sharp divergence between the group’s investment performance and its core insurance operations, with the bulk of the improvement in bottom-line earnings coming from…
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