Emirates Insurance Company P.J.S.C. (ADX:EIC)

ADX:EIC Cash Flow Statement

Financials in millions AED. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	137.55	110.75	126.29	55.8	71.01	108.28
Depreciation & Amortization	3.86	3.58	3.54	4.17	5.23	5.88
Gain (Loss) on Sale of Assets	-0.01	-0.01	-0.08	-0.04	-0.02	-
Gain (Loss) on Sale of Investments	-11.07	-10.63	-32.18	26.2	-25.77	4.09
Change in Accounts Receivable	-1.88	-	2.38	-2.38	-6.99	33.97
Reinsurance Recoverable	290.57	-504.2	-168.78	217.93	274.07	-486.89
Change in Unearned Revenue	-	-	-	-	7.42	3.88
Change in Insurance Reserves / Liabilities	-180.83	456.57	81.72	-218.53	-258.33	435.49
Change in Other Net Operating Assets	-6.76	-12.73	55.23	3.24	-3.99	12.34
Other Operating Activities	-64.8	-65.6	-53.46	-55.8	-40.47	-50.24
Operating Cash Flow	171.98	-19.47	-11.02	62.62	29.24	70.65
Operating Cash Flow Growth	554.91%	-	-	114.17%	-58.61%	-47.99%
Capital Expenditures	-7.51	-4.99	-1.54	-2.95	-1.99	-3.44
Sale of Property, Plant & Equipment	0.01	0.01	0.13	0.08	0.02	-
Investment in Securities	40.86	181.97	29.97	-88.11	59.05	-5.94
Other Investing Activities	70.33	75.27	56.02	51.06	43.86	51.89
Investing Cash Flow	103.69	252.26	84.58	-39.92	100.94	42.52
Total Debt Repaid	-	-	-0.03	-0.03	-0.03	-0.03
Net Debt Issued (Repaid)	-	-	-0.03	-0.03	-0.03	-0.03
Common Dividends Paid	-75	-82.5	-75	-75	-90	-90
Financing Cash Flow	-215.87	-82.5	-75.03	-75.03	-90.03	-90.03
Net Cash Flow	59.8	150.29	-1.47	-52.33	40.15	23.14
Free Cash Flow	164.47	-24.46	-12.56	59.67	27.25	67.21
Free Cash Flow Growth	621.46%	-	-	118.97%	-59.46%	-48.50%
Free Cash Flow Margin	25.82%	-3.97%	-2.23%	5.27%	4.83%	10.44%
Free Cash Flow Per Share	1.09	-0.16	-0.08	0.40	0.18	0.45
Levered Free Cash Flow	384.15	-465.68	-445.82	-460.84	160.91	166.9
Unlevered Free Cash Flow	384.15	-465.68	-445.82	-460.84	160.91	166.9
Change in Working Capital	106.44	-57.56	-55.13	32.29	18.56	2.63

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.