Gulf Insurance Group K.S.C.P. (KWSE: GINS)

GINS Balance Sheet

Financials in millions KWD. 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	73.51	385.4	301.01	282.95	81.14	70.02
Investments in Equity & Preferred Securities	24.39	48.38	73.02	77.19	64.43	60.76
Policy Loans	0.16	0.62	0.48	0.5	0.87	1.1
Other Investments	408.48	53.46	65.08	122.24	71.37	61.66
Total Investments	631.54	585.65	502.86	500.54	230.23	204.56
Cash & Equivalents	147.14	165.83	227.75	231.6	71.34	87.66
Reinsurance Recoverable	262.82	242.27	212.36	235.29	292.36	262.33
Other Receivables	12.78	18.18	36.11	219.93	129.32	131.45
Deferred Policy Acquisition Cost	-	-	-	18.61	3.14	-
Separate Account Assets	-	-	-	7.35	-	-
Property, Plant & Equipment	41.59	44.34	48.88	47.5	38.22	37.43
Goodwill	33.18	33.32	33.23	32.71	15.1	15.1
Other Intangible Assets	42.31	46.34	45.88	45.77	-	-
Other Current Assets	-	14.96	6.26	27.32	21	24.63
Long-Term Deferred Tax Assets	2.67	3.23	2.54	-	-	-
Other Long-Term Assets	28.33	21.29	27.47	6.68	-	-
Total Assets	1,202	1,175	1,143	1,373	800.71	763.17
Accrued Expenses	-	25	23.81	83.58	45.42	36.37
Insurance & Annuity Liabilities	614.45	577.85	543.91	234.8	160.24	152.09
Unpaid Claims	-	-	-	435.53	372.15	322.52
Unearned Premiums	-	-	-	170.81	59.35	65.26
Reinsurance Payable	18.48	36.05	23.94	2.39	2.18	2.4
Current Portion of Long-Term Debt	-	-	-	-	-	1.72
Current Portion of Leases	-	-	-	-	0.75	-
Short-Term Debt	-	3.08	-	-	-	-
Current Income Taxes Payable	12.03	0.88	1.74	0.98	0.75	0.55
Long-Term Debt	50.87	53.12	58.08	75.48	-	35.35
Long-Term Leases	4.76	5.03	4.43	-	0.56	2.17
Long-Term Deferred Tax Liabilities	2.32	1.62	0.57	-	-	-
Other Long-Term Liabilities	105.21	81.55	107.39	10.86	3.85	-
Total Liabilities	825.61	801.27	779.38	1,024	655.38	628.32
Common Stock	28.46	28.46	28.46	28.46	18.7	18.7
Additional Paid-In Capital	55.22	54.05	54.05	54.05	6.7	6.7
Retained Earnings	190.44	181.9	172.89	154.08	102	92.74
Treasury Stock	-	-0.43	-0.43	-0.43	-0.43	-0.43
Comprehensive Income & Other	26.48	32.29	33.68	37.05	-9.57	-8.91
Total Common Equity	300.6	296.26	288.64	273.2	117.4	108.8
Minority Interest	76.15	77.88	75.33	76.31	27.93	26.04
Shareholders' Equity	376.75	374.14	363.97	349.51	145.33	134.85
Total Liabilities & Equity	1,202	1,175	1,143	1,373	800.71	763.17
Filing Date Shares Outstanding	284.55	283.75	283.75	283.75	186.22	186.22
Total Common Shares Outstanding	284.55	283.75	283.75	283.75	186.22	186.22
Total Debt	55.62	61.23	62.5	75.48	1.31	39.24
Net Cash (Debt)	91.52	104.6	165.24	156.12	70.03	48.42
Net Cash Growth	-38.05%	-36.70%	5.85%	122.92%	44.63%	165.02%
Net Cash Per Share	0.32	0.37	0.58	0.70	0.37	0.26
Book Value Per Share	1.06	0.83	0.81	0.75	0.63	0.58
Tangible Book Value	225.11	216.6	209.53	194.72	102.3	93.7
Tangible Book Value Per Share	0.79	0.55	0.53	0.47	0.55	0.50
Land	-	-	-	18.17	16.12	15.91
Buildings	-	-	-	31.51	22.31	20.66
Machinery	-	-	-	34.4	15.39	15.67
Leasehold Improvements	-	-	-	2.33	2.27	2.42

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