AIICO Insurance Plc (NGX: AIICO)

AIICO Insurance Balance Sheet

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Investments in Debt Securities	153,683	119,917	89,669	86,048	66,328
Investments in Equity & Preferred Securities	7,449	5,392	10,557	3,994	5,000
Total Investments	340,711	267,455	226,220	174,013	189,100
Cash & Equivalents	28,693	18,423	15,915	25,490	31,913
Reinsurance Recoverable	21,248	17,116	10,691	7,909	5,561
Other Receivables	4,364	3,782	4,718	2,110	2,680
Deferred Policy Acquisition Cost	-	-	-	739.22	582.27
Property, Plant & Equipment	9,449	9,046	8,420	7,175	7,031
Goodwill	800.86	800.86	800.86	800.86	800.86
Other Intangible Assets	899.52	106.77	127.81	133.89	88.22
Restricted Cash	500	500	500	500	500
Other Current Assets	1,099	866.15	757.48	3,509	4,835
Long-Term Deferred Tax Assets	112.8	-	21.5	1.25	6.17
Other Long-Term Assets	-0	-	-	-0	-
Total Assets	407,877	318,096	268,171	222,381	243,098
Accounts Payable	-	-	-	62.51	116.79
Accrued Expenses	5,341	4,299	2,664	2,077	2,481
Insurance & Annuity Liabilities	266,315	219,714	190,035	97,289	118,080
Unpaid Claims	-	-	-	16,502	12,993
Unearned Premiums	2,889	2,355	3,056	7,753	6,012
Reinsurance Payable	271.88	930.62	1,302	1,878	945.83
Current Income Taxes Payable	1,644	845.06	669.54	407.28	358.1
Long-Term Deferred Tax Liabilities	-	0.5	7.67	7.67	8.84
Other Current Liabilities	62,150	34,267	28,014	34,649	45,073
Other Long-Term Liabilities	4,615	3,855	3,213	22,830	21,835
Total Liabilities	343,226	266,265	228,961	184,007	208,439
Common Stock	18,303	18,303	18,303	18,303	7,844
Additional Paid-In Capital	64.75	64.75	64.75	64.75	7,037
Retained Earnings	43,119	31,371	20,454	19,356	17,340
Comprehensive Income & Other	2,824	1,656	-32.61	305.27	1,481
Total Common Equity	64,310	51,395	38,789	38,029	33,702
Minority Interest	341.34	435.25	422.4	345.3	957.24
Shareholders' Equity	64,651	51,830	39,211	38,374	34,659
Total Liabilities & Equity	407,877	318,096	268,171	222,381	243,098
Filing Date Shares Outstanding	36,605	36,605	36,605	36,605	36,605
Total Common Shares Outstanding	36,605	36,605	36,605	36,605	36,605
Net Cash (Debt)	28,693	18,423	15,915	25,490	31,913
Net Cash Growth	55.75%	15.75%	-37.56%	-20.13%	328.33%
Net Cash Per Share	0.78	0.50	0.43	0.70	0.87
Book Value Per Share	1.76	1.40	1.06	1.04	0.92
Tangible Book Value	62,609	50,487	37,860	37,094	32,813
Tangible Book Value Per Share	1.71	1.38	1.03	1.01	0.90
Land	2,065	2,065	2,065	1,715	1,715
Buildings	4,658	4,588	4,566	4,095	4,095
Machinery	7,208	6,146	5,696	4,261	4,188
Construction In Progress	628.36	688.67	9.86	22.42	88.21

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