Ras Al Khaimah National Insurance Company P.S.C. (ADX: RAKNIC)

RAKNIC Balance Sheet

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	182.98	131.35	106.42	42.26	57.5	-
Investments in Equity & Preferred Securities	3.53	3.84	1.99	0.73	15.41	-
Other Investments	119.64	181.36	216.61	191.79	180.18	247.44
Total Investments	306.14	316.55	325.02	234.78	268.39	267.86
Cash & Equivalents	93.62	28.51	9.63	57.39	29.68	27.65
Reinsurance Recoverable	282.32	176.31	146.86	249.56	191.99	280.64
Other Receivables	10.71	1.76	3.31	136.02	131.43	176.86
Deferred Policy Acquisition Cost	-	-	-	23.23	24.09	33.3
Property, Plant & Equipment	0.83	0.48	1.27	1.94	2.5	4.95
Other Intangible Assets	3.73	4.47	5.64	6.62	7.86	9.34
Restricted Cash	10	10	10	10	10	10
Other Current Assets	5.38	2.77	6.03	7.12	10.01	12.5
Other Long-Term Assets	77.21	62.59	50.7	70.14	0.95	0.65
Total Assets	789.95	603.43	558.47	796.8	676.9	823.74
Accounts Payable	1.05	0.56	0.37	-	-	-
Accrued Expenses	3.29	10.56	6.33	25.31	35.1	36.49
Insurance & Annuity Liabilities	484.79	364.67	329.88	32.69	38.35	43.14
Unpaid Claims	-	-	-	193.32	137.01	177.01
Unearned Premiums	-	-	-	205.11	192.63	274.9
Reinsurance Payable	37.45	1.4	20.98	42.18	27.59	45.8
Short-Term Debt	69.9	59.38	50	33.06	-	-
Other Current Liabilities	6.86	-	3.44	15.39	1.95	2.06
Other Long-Term Liabilities	2.94	0.97	0.73	38.88	32.88	47.51
Total Liabilities	614.38	443.88	417.99	594.14	473.83	633.58
Common Stock	121.28	121.28	121.28	121.28	121.28	115.5
Retained Earnings	53.58	43.71	30.36	80.42	80.2	73.45
Comprehensive Income & Other	0.71	-5.43	-11.15	0.96	1.6	1.22
Shareholders' Equity	175.57	159.55	140.48	202.66	203.08	190.17
Total Liabilities & Equity	789.95	603.43	558.47	796.8	676.9	823.74
Filing Date Shares Outstanding	121.28	121.28	121.28	121.28	121.28	121.28
Total Common Shares Outstanding	121.28	121.28	121.28	121.28	121.28	121.28
Total Debt	69.9	59.38	50	33.06	-	-
Net Cash (Debt)	23.72	-30.88	-40.37	24.34	29.68	27.65
Net Cash Growth	-	-	-	-18.01%	7.34%	26.21%
Net Cash Per Share	0.20	-0.25	-0.33	0.20	0.24	0.23
Book Value Per Share	1.45	1.32	1.16	1.67	1.67	1.57
Tangible Book Value	171.84	155.08	134.84	196.04	195.22	180.83
Tangible Book Value Per Share	1.42	1.28	1.11	1.62	1.61	1.49
Land	-	-	-	-	-	1
Buildings	-	-	-	-	-	4.87
Machinery	-	9.42	10.3	10.89	14.55	13.16

Source: S&P Capital IQ. Insurance template. Financial Sources.