African Alliance Insurance Plc (NGX: AFRINSURE)

AFRINSURE Balance Sheet

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

Fiscal Year	TTM	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period Ending	Dec 31, 2022	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Investments in Debt Securities	62.29	62.29	86.18	80.24	-	19,995
Investments in Equity & Preferred Securities	29,851	29,851	16,089	97.15	1,641	1,904
Policy Loans	180.95	180.95	186.34	91.96	95.79	-
Total Investments	49,234	49,234	36,603	34,967	34,550	33,172
Cash & Equivalents	1,142	1,142	1,390	17,799	2,077	3,681
Reinsurance Recoverable	83.89	83.89	91.53	466.92	245.8	122.9
Other Receivables	153.71	153.71	128.76	-23.56	127.11	329.22
Property, Plant & Equipment	1,816	1,816	1,919	1,981	1,850	2,008
Other Intangible Assets	60.41	60.41	56.48	62.17	57.32	57.34
Long-Term Deferred Tax Assets	147.69	147.69	147.69	147.97	147.94	148.2
Long-Term Deferred Charges	17.07	17.07	21.58	19.27	65.25	21.15
Other Long-Term Assets	818.58	818.58	1,229	887.27	886.83	1,830
Total Assets	53,473	53,473	41,587	56,307	40,007	41,370
Accounts Payable	238.59	238.59	238.59	238.59	288.24	254.59
Accrued Expenses	108.69	108.69	126.87	-	-	-
Insurance & Annuity Liabilities	39,361	39,361	38,202	51,206	39,537	33,773
Unpaid Claims	1,894	1,894	1,963	1,429	1,547	1,157
Unearned Premiums	926.39	926.39	1,398	1,039	1,057	1,043
Reinsurance Payable	62.94	62.94	236.4	151.18	120.43	-9.46
Short-Term Debt	23.92	23.92	23.92	452.8	1,461	647.44
Current Income Taxes Payable	591.05	591.05	615.74	632.98	786.76	826.74
Long-Term Debt	110.69	110.69	142.28	-	-	-
Long-Term Deferred Tax Liabilities	204.01	204.01	204.01	384.48	377.27	428.18
Other Current Liabilities	2,573	2,573	2,332	3,523	3,522	3,752
Other Long-Term Liabilities	2,255	2,255	1,874	2,315	2,543	2,629
Total Liabilities	48,397	48,397	47,392	61,421	51,353	44,544
Common Stock	10,293	10,293	10,293	10,293	10,293	10,293
Additional Paid-In Capital	14,365	14,365	14,365	14,365	14,365	14,365
Retained Earnings	-35,215	-35,215	-32,374	-30,610	-36,284	-29,243
Comprensive Income & Other	15,275	15,275	1,768	835.19	279.01	1,403
Total Common Equity	4,717	4,717	-5,948	-5,117	-11,347	-3,182
Minority Interest	359.4	359.4	143.55	3.32	1.41	8.35
Shareholders' Equity	5,076	5,076	-5,804	-5,114	-11,346	-3,174
Total Liabilities & Equity	53,473	53,473	41,587	56,307	40,007	41,370
Filing Date Shares Outstanding	20,585	20,585	20,585	20,585	20,585	20,585
Total Common Shares Outstanding	20,585	20,585	20,585	20,585	20,585	20,585
Total Debt	134.61	134.61	166.2	452.8	1,461	647.44
Net Cash (Debt)	1,007	1,007	1,224	17,346	616.25	3,033
Net Cash Growth	-17.70%	-17.70%	-92.95%	2714.84%	-79.68%	-46.68%
Net Cash Per Share	0.05	0.05	0.06	0.84	0.03	0.15
Book Value Per Share	0.23	0.23	-0.29	-0.25	-0.55	-0.15
Tangible Book Value	4,657	4,657	-6,004	-5,179	-11,405	-3,240
Tangible Book Value Per Share	0.23	0.23	-0.29	-0.25	-0.55	-0.16
Land	100	100	98	93	85	62
Buildings	1,203	1,203	1,184	1,163	1,016	1,493
Machinery	3,768	3,768	3,726	3,560	3,437	3,374

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