|
Statement of Financial Position |
|
|||
|
As at 31 December |
2021 |
2020 |
Change |
% |
|
ASSETS |
N000 |
N000 |
N000 |
|
|
Cash and Cash Equivalents |
737,626 |
378,939 |
358,687 |
94,7 |
|
Financial Assets |
1,661,626 |
1,746,775 |
(85,150) |
(4.9) |
|
Trade Receivables |
275,537 |
295,834 |
(20,297) |
(6.9) |
|
Reinsurance Assets |
1,368,146 |
1,468,007 |
(99,861) |
(6.8) |
|
Deferred Acquisition Cost |
443,369 |
140,139 |
303,230 |
216.4 |
|
Other Receivables and Prepayments |
235,553 |
336,695 |
(101,142) |
(30,0) |
|
Investment Properties |
1,430,000 |
1,270,000 |
160,000 |
12,6 |
|
Property, Plant and Equipment |
724,595 |
717,350 |
7,245 |
1.0 |
|
Statutory Deposit |
300,150 |
300,150 |
- |
- |
|
Total Assets |
7,176,602 |
6,653.889 |
522,712 |
|
|
LIABILITIES |
|
|
|
|
|
Insurance Contract Liabilities |
1,135,636 |
1,154,945 |
(19,309) |
(1.7) |
|
Trade Payables |
31,163 |
56,615 |
(25,452) |
(45.0) |
|
Provisions and Other Payables |
210,732 |
133,879 |
76,853 |
57.4 |
|
Retirement Benefit Obligations |
227,048 |
206,270 |
20,778 |
10.1 |
|
Current Income Tax Liabilities |
79,414 |
30,003 |
49,412 |
164.7 |
|
Deferred Tax Liabilities |
86,738 |
88,309 |
(1,571) |
(1.8) |
|
Total Liabilities |
1,770,731 |
1,670,021 |
100,710 |
- |
|
EQUITY |
|
|
|
|
|
Paid-up Share Capital |
4,064,351 |
4,064,351 |
|
|
|
Share Premium |
70,393 |
70,393 |
|
|
|
Statutory Contigency Reserve |
1,450,684 |
1,310,374 |
140,310 |
10.7 |
|
Retained Earnings/(Accumutated Losses) |
(416,068) |
(653,128) |
(237,060) |
36.3 |
|
Other Reserves |
(47,093) |
(58,031) |
(10,938) |
18.8 |
|
Fair- value Reserves |
25,663 |
45,491 |
(19,828) |
(43.6) |
|
Revaluation Reserves |
257,94! |
204,419 |
53,522 |
26.2 |
|
Total Equity |
5,405,871 |
4,983,869 |
(73,994) |
|
|
Total Liabilities and Equity |
7,176,602 |
6,653,889 |
26,717 |
|
|
Profit or Loss and Other Comprehensive Income |
|
|
|
|
|
For the year ended 31 December |
2021 |
2020 |
Change |
% |
|
|
N000 |
N0D0 |
N000 |
|
|
Gross Premium Written |
4,677,009 |
3,949,079 |
727,930 |
18.4 |
|
Net Premium Income |
3,373,639 |
3,228,230 |
145,409 |
4.5 |
|
Underwriting Results |
2,045,964 |
1,403,091 |
642,873 |
45.8 |
|
Investment Income |
161,312 |
270,329 |
(109,017) |
(40.3) |
|
Profit before Taxation |
447,542 |
214,476 |
233,065 |
108.7 |
|
Income Tax Expense |
(70,172) |
( 16,987) |
(53,185) |
313.1 |
|
Profit for the year |
377,370 |
197,489 |
179,881 |
91.1 |
|
Per share data (kobo) |
|
|
|
|
|
Earnings |
4.64 |
2.43 |
|
|
|
Net Assets |
66.50 |
61.31 |
|
|
