Consolidated Hallmark Insurance Upgraded to A+(NG) Rating

Consolidated Hallmark Insurance Limited (CHI) has been upgraded to an A+(NG) financial strength rating by GCR Ratings, with a positive outlook, as announced on August 31, 2026. This marks the first improvement in CHI's rating since GCR began coverage in August 2023.

The upgrade is attributed to stronger risk-adjusted capitalisation, adequate liquidity, an improving earnings profile, and a notable enhancement in underwriting performance. CHI's combined ratio improved from 113.5 percent in 2023 to 83.9 percent in 2024 and 78.2 percent in 2025, significantly better than the industry average of 95 percent.

Factors contributing to this improvement include lower high-value claims and optimized reinsurance arrangements. Mary Adeyanju, managing director/CEO of CHI, stated that the rating reflects their commitment to underwriting quality and risk management.

CHI's insurance revenue grew at a compound annual growth rate of 33.7 percent to N41.7 billion in 2025. GCR projects that CHI's capital adequacy ratio will remain between 2.2 and 2.4 times over the next 12 to 18 months.