Union Insurance Company P.J.S.C. (ADX: UNION)

UNION 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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Equity & Preferred Securities	0.03	0.02	0.03	0.02	6.89	25.88
Other Investments	262.75	249.57	23.89	159.57	199.34	105.5
Total Investments	326.87	321.86	100.67	207.45	312.61	365.65
Cash & Equivalents	15.51	38.29	205.67	91.88	5.14	47.35
Reinsurance Recoverable	702.27	543.27	627.41	877.53	539.54	620.45
Other Receivables	38.77	68.79	78.17	284.67	324.96	365.06
Deferred Policy Acquisition Cost	-	-	-	19.06	20.83	22.39
Separate Account Assets	419.34	403.16	349.61	368.89	286.8	261.03
Property, Plant & Equipment	66.29	68.06	73.79	71.08	83.52	109.26
Other Intangible Assets	2.53	3.14	8.72	14.57	16.76	8.23
Restricted Cash	10	10	10	10	10	10
Other Current Assets	5.12	5.26	6.44	6.46	4.43	6.74
Other Long-Term Assets	45	45	45	46.4	21	-
Total Assets	1,632	1,507	1,505	1,998	1,626	1,816
Accounts Payable	-	-	-	76.04	125.69	139.82
Accrued Expenses	-	-	-	47.07	62.12	72.4
Insurance & Annuity Liabilities	927.25	794.86	849.45	279.06	260.29	150.04
Unpaid Claims	14.33	14.33	14.33	693.86	377.41	386.88
Unearned Premiums	-	-	-	282.69	275	428.12
Reinsurance Payable	1.31	19.5	24.79	-	-	-
Current Portion of Leases	-	3.09	3.03	0.03	2.62	3.99
Short-Term Debt	-	-	-	-	0.58	3.38
Long-Term Leases	-	0.73	3.82	-	0.03	2.65
Separate Account Liability	381.65	370.28	330.8	368.89	286.8	261.03
Other Current Liabilities	-	-	-	2	2.04	33.41
Other Long-Term Liabilities	76.93	85.05	57.33	-	-	-
Total Liabilities	1,414	1,302	1,298	1,763	1,404	1,490
Common Stock	330.94	330.94	330.94	330.94	330.94	330.94
Retained Earnings	-113.15	-126.08	-123.6	-95.61	-97.62	5.17
Comprensive Income & Other	0.17	0.16	0.17	0.16	-11.27	-10.27
Shareholders' Equity	217.96	205.03	207.51	235.49	222.04	325.84
Total Liabilities & Equity	1,632	1,507	1,505	1,998	1,626	1,816
Filing Date Shares Outstanding	330.94	330.94	330.94	330.94	330.94	330.94
Total Common Shares Outstanding	330.94	330.94	330.94	330.94	330.94	330.94
Total Debt	-	3.82	6.86	0.03	3.23	10.02
Net Cash (Debt)	15.51	34.47	198.81	91.85	1.91	37.33
Net Cash Growth	-61.01%	-82.66%	116.46%	4708.85%	-94.88%	73.42%
Net Cash Per Share	0.05	0.10	0.60	0.28	0.01	0.11
Book Value Per Share	0.66	0.62	0.63	0.71	0.67	0.98
Tangible Book Value	215.43	201.89	198.79	220.91	205.28	317.61
Tangible Book Value Per Share	0.65	0.61	0.60	0.67	0.62	0.96
Land	61.07	61.07	61.07	61.07	61.07	83.9
Machinery	27.16	27.16	31	30.46	29.52	28.55
Construction In Progress	0.43	0.18	0.61	3.12	12.06	10.38

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