NICO Holdings Balance Sheet

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

Millions MWK. 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 Debt Securities	1,051,892	753,061	473,677	396,697	361,032
Investments in Equity & Preferred Securities	1,685,133	616,014	387,993	228,661	196,186
Other Investments	104,323	127,516	91,530	59,137	31,727
Total Investments	2,855,163	1,509,723	965,114	693,712	596,718
Cash & Equivalents	203,276	212,352	143,652	84,116	81,099
Reinsurance Recoverable	37,234	38,583	38,988	29,783	14,092
Other Receivables	368,678	253,631	159,765	146,367	108,887
Deferred Policy Acquisition Cost	-	-	-	-	1,877
Property, Plant & Equipment	46,852	34,828	23,286	15,861	14,927
Other Intangible Assets	17,301	17,676	10,781	5,736	6,615
Restricted Cash	76,861	69,501	38,730	12,409	7,518
Other Current Assets	571,475	280,993	173,704	137,375	104,545
Long-Term Deferred Tax Assets	25,283	9,813	10,874	6,715	2,230
Other Long-Term Assets	5,288	1,836	2,331	1,246	1,483
Total Assets	4,207,412	2,428,936	1,567,225	1,133,321	939,990
Accounts Payable	2,849	3,280	63,872	1,975	2,323
Accrued Expenses	1,415	1,692	-	516.15	3,434
Insurance & Annuity Liabilities	1,812,699	901,701	653,300	458,276	386,380
Unpaid Claims	-	-	-	-	14,295
Unearned Premiums	-	-	-	-	14,483
Reinsurance Payable	98.17	49.36	305	5	4,324
Current Portion of Long-Term Debt	-	458.33	6,628	1,170	2,946
Current Portion of Leases	1,035	2,154	1,936	1,832	2,182
Short-Term Debt	71,594	107,944	-	15,557	8,444
Current Income Taxes Payable	35,811	17,179	1,170	-	-
Long-Term Debt	48,078	23,012	3,299	8,237	8,073
Long-Term Leases	5,913	5,294	4,859	3,230	3,438
Long-Term Deferred Tax Liabilities	37,648	16,537	5,273	3,827	2,757
Other Current Liabilities	1,509,422	889,682	665,576	494,547	306,702
Other Long-Term Liabilities	135,449	185,374	-	25,692	94,541
Total Liabilities	3,662,010	2,154,357	1,406,218	1,014,866	854,321
Common Stock	52.15	52.15	52.15	52.15	52.15
Additional Paid-In Capital	428.86	428.86	428.86	428.86	428.86
Retained Earnings	277,444	144,090	84,348	63,649	45,955
Comprehensive Income & Other	21,779	9,147	6,746	2,521	1,812
Total Common Equity	299,704	153,718	91,575	66,650	48,248
Minority Interest	245,697	120,862	69,431	51,804	37,420
Shareholders' Equity	545,402	274,580	161,006	118,455	85,668
Total Liabilities & Equity	4,207,412	2,428,936	1,567,225	1,133,321	939,990
Filing Date Shares Outstanding	1,043	1,043	1,043	1,043	1,043
Total Common Shares Outstanding	1,043	1,043	1,043	1,043	1,043
Total Debt	126,620	138,863	16,723	30,027	25,082
Net Cash (Debt)	76,657	73,489	126,930	54,089	56,017
Net Cash Growth	4.31%	-42.10%	134.67%	-3.44%	16.11%
Net Cash Per Share	73.49	70.46	121.69	51.86	53.71
Book Value Per Share	287.34	147.37	87.80	63.90	46.26
Tangible Book Value	282,404	136,042	80,794	60,915	41,633
Tangible Book Value Per Share	270.75	130.43	77.46	58.40	39.92
Buildings	7,668	3,761	3,072	2,659	2,424
Machinery	57,370	43,404	26,991	21,815	19,872
Construction In Progress	3,450	1,896	3,756	499.33	157.83

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.