SIC Insurance Income Statement

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

Millions GHS. 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
Premiums & Annuity Revenue	598.5	559.48	373.19	355.53	141.13
Total Interest & Dividend Income	45.03	32.96	28.65	40.62	13.95
Gain (Loss) on Sale of Investments	-	-7.48	-13.68	-50.32	-0.21
Other Revenue	39.87	-19.25	25.38	29.53	11.86
Total Revenue	683.39	565.71	413.53	375.37	176.64
Revenue Growth (YoY)	20.80%	36.80%	10.17%	112.51%	4.20%
Policy Benefits	372.09	279.15	222.23	239.97	15.13
Policy Acquisition & Underwriting Costs	-	-	-	-	8.88
Amortization of Goodwill & Intangibles	0.01	2.06	1.79	2.36	-
Depreciation & Amortization	14.35	10.96	8.93	12.37	-
Selling, General & Administrative	0.65	1.57	1.43	1.23	119.58
Provision for Bad Debts	-	26.6	0.16	0.29	-
Other Operating Expenses	83.91	75.3	69.47	43.59	3.77
Total Operating Expenses	587.52	502.08	397.29	385.36	147.37
Operating Income	95.88	63.63	16.24	-9.99	29.27
Interest Expense	-	-2.21	-2.46	-3.18	-2.55
Currency Exchange Gain (Loss)	-	-	0.01	0.64	-
Other Non Operating Income (Expenses)	-1.52	11.98	7.72	-	16.21
EBT Excluding Unusual Items	94.35	73.41	21.51	-12.53	42.93
Gain (Loss) on Sale of Assets	-	1.8	0.07	0.01	11.58
Asset Writedown	-	3.77	-	44.17	17.41
Pretax Income	94.35	78.97	21.58	31.65	71.92
Income Tax Expense	24.83	25.56	8.77	8.59	11.58
Earnings From Continuing Ops.	69.52	53.41	12.81	23.06	60.33
Minority Interest in Earnings	-	0.33	0.67	-0.42	-0.53
Net Income	69.52	53.74	13.49	22.65	59.8
Net Income to Common	69.52	53.74	13.49	22.65	59.8
Net Income Growth	29.36%	298.48%	-40.45%	-62.13%	382.54%
Shares Outstanding (Basic)	196	196	196	196	196
Shares Outstanding (Diluted)	196	196	196	196	196
EPS (Basic)	0.36	0.27	0.07	0.12	0.31
EPS (Diluted)	0.36	0.27	0.07	0.12	0.31
EPS Growth	29.36%	298.48%	-40.45%	-62.13%	382.54%
Free Cash Flow	-31.91	141.09	-17.9	68.87	-65.43
Free Cash Flow Per Share	-0.16	0.72	-0.09	0.35	-0.33
Dividend Per Share	-	0.051	0.051	-	0.046
Dividend Growth	-	-	-	-	200.65%
Operating Margin	14.03%	11.25%	3.93%	-2.66%	16.57%
Profit Margin	10.17%	9.50%	3.26%	6.03%	33.86%
Free Cash Flow Margin	-4.67%	24.94%	-4.33%	18.35%	-37.04%
EBITDA	110.23	74.6	25.17	2.38	37.31
EBITDA Margin	16.13%	13.19%	6.09%	0.63%	21.12%
D&A For EBITDA	14.35	10.96	8.93	12.37	8.04
EBIT	95.88	63.63	16.24	-9.99	29.27
EBIT Margin	14.03%	11.25%	3.93%	-2.66%	16.57%
Effective Tax Rate	26.32%	32.37%	40.63%	27.13%	16.10%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.