Zambia Reinsurance PLC (LUSE:ZMRE)

Zambia Reinsurance Cash Flow Statement

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

Operating Activities

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	7.81	28.46	15.51	2.54	1.31
Depreciation & Amortization	1.54	1.35	1	0.63	0.59
Gain (Loss) on Sale of Assets	-0.02	-0.08	-1.13	0.02	0.83
Gain (Loss) on Sale of Investments	0.08	0.06	0	-	-
Change in Accounts Receivable	0.19	-10.82	7.52	-16.69	9.87
Reinsurance Recoverable	6.91	-18.94	-9.8	-3.47	-
Change in Insurance Reserves / Liabilities	-1.13	23.54	-6.04	23.75	-0.15
Change in Other Net Operating Assets	-1.04	-16.43	-4.81	-3.38	0.19
Other Operating Activities	-4.03	1.66	2.55	2.62	-1.42
Operating Cash Flow	10.55	11.7	3.32	5.46	13.37
Operating Cash Flow Growth	-9.88%	252.45%	-39.18%	-59.17%	44.88%

Investing Activities

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-3.08	-1.4	-3.18	-0.78	-0.5
Sale of Property, Plant & Equipment	0.04	0.11	0.3	0	0.23
Investment in Securities	-5.11	-23.6	16.82	-5.98	-18.12
Investing Cash Flow	-8.16	-24.88	13.94	-6.77	-18.42

Financing Activities

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Dividends Paid	-2.52	-2	-2.02	-2.65	-
Financing Cash Flow	-2.52	-2	-2.02	-2.65	-

Net Cash Flow

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-	-	0.83	-0.02	-0.95
Net Cash Flow	-0.13	-15.18	16.08	-3.99	-5.99

Free Cash Flow

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	7.47	10.31	0.14	4.68	12.87
Free Cash Flow Growth	-27.54%	7047.80%	-96.92%	-63.65%	59.26%
Free Cash Flow Margin	4.11%	5.62%	0.12%	3.87%	23.52%
Free Cash Flow Per Share	0.17	0.23	0.00	0.10	0.29
Levered Free Cash Flow	13.33	-28.23	1.8	2.17	-0.72
Unlevered Free Cash Flow	13.33	-28.23	1.8	2.17	-0.72

Additional Metrics

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Income Tax Paid	6.61	2.23	2.49	3.48	2.94
Change in Working Capital	5.32	-19.35	-14.32	0.86	12.55

Data Source: S&P Global Market Intelligence Last updated: Dec 31, 2025

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Aug 8, 2026

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