Sanlam Maroc Balance Sheet

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

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Equity & Preferred Securities	127.02	131.45	132	134.49	125.27
Other Investments	2,313	2,635	2,532	13,362	14,137
Total Investments	18,967	16,724	15,760	14,887	15,762
Cash & Equivalents	162.74	371.49	424.93	514.9	366.13
Reinsurance Recoverable	1,178	702.8	77.8	173.67	145
Other Receivables	1,821	1,453	3,343	3,038	2,914
Separate Account Assets	193.63	50.28	1,163	1,010	955.29
Property, Plant & Equipment	266.82	283.12	243.05	260.43	300.24
Goodwill	1,158	1,225	1,225	1,225	1,225
Other Intangible Assets	171.79	169	174.65	187.66	187.01
Other Current Assets	435.14	1,233	1,225	1,380	1,374
Long-Term Deferred Tax Assets	31.01	41.29	40.98	39.13	60.39
Other Long-Term Assets	-	-	25.96	138.63	5.67
Total Assets	24,385	22,253	23,703	22,855	23,294
Accrued Expenses	-	-	312.35	297.47	338.35
Insurance & Annuity Liabilities	15,162	14,270	15,770	14,988	15,075
Reinsurance Payable	-	-	139.67	417.05	436.66
Short-Term Debt	890.17	567.28	467.83	599.39	485.47
Current Income Taxes Payable	355.98	269.9	177.36	166.08	153.63
Long-Term Debt	5.09	7.78	10.33	26.45	26.45
Long-Term Leases	21.48	29.83	28.5	16.64	9.44
Long-Term Deferred Tax Liabilities	1,127	954.75	814.84	703.94	866.54
Other Long-Term Liabilities	759.55	424.07	532.9	599.52	601.48
Total Liabilities	18,322	16,523	18,254	17,815	17,993
Common Stock	411.69	411.69	411.69	411.69	411.69
Additional Paid-In Capital	1,170	1,170	1,170	1,170	1,170
Retained Earnings	676.52	690.92	559.43	-70.18	606.86
Comprehensive Income & Other	3,805	3,457	3,308	3,528	3,113
Total Common Equity	6,063	5,729	5,449	5,040	5,301
Minority Interest	0.04	0.04	0.04	0.04	0.05
Shareholders' Equity	6,063	5,729	5,449	5,040	5,301
Total Liabilities & Equity	24,385	22,253	23,703	22,855	23,294
Filing Date Shares Outstanding	4.12	4.12	4.12	4.12	4.12
Total Common Shares Outstanding	4.12	4.12	4.12	4.12	4.12
Total Debt	916.73	604.89	506.67	642.48	521.36
Net Cash (Debt)	-754	-233.41	-81.74	-127.58	-155.23
Net Cash Per Share	-183.15	-56.70	-19.85	-30.99	-37.70
Book Value Per Share	1472.66	1391.68	1323.60	1224.17	1287.63
Tangible Book Value	4,733	4,336	4,050	3,628	3,889
Tangible Book Value Per Share	1149.65	1053.18	983.74	881.14	944.76
Land	385.92	385.92	178.03	178.03	182.08
Buildings	-	-	207.89	220.48	240.63
Machinery	476.29	469.46	458.55	537.14	574.56
Construction In Progress	-	-	0.91	7.99	0.95

Updated Dec 31, 2024. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.