AIICO Insurance Plc (NGX: AIICO)

AIICO Insurance Balance Sheet

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	130,680	119,917	89,669	86,048	66,328	66,106
Investments in Equity & Preferred Securities	6,816	5,392	10,557	3,994	5,000	6,490
Policy Loans	-	-	-	-	-	2,020
Total Investments	293,590	267,455	226,220	174,013	189,100	126,932
Cash & Equivalents	24,408	18,423	15,915	25,490	31,913	10,080
Reinsurance Recoverable	19,747	17,116	10,691	7,909	5,561	4,018
Other Receivables	4,953	3,782	4,718	2,110	2,680	1,536
Deferred Policy Acquisition Cost	-	-	-	739.22	582.27	488.88
Property, Plant & Equipment	9,166	9,046	8,420	7,175	7,031	7,598
Goodwill	800.86	800.86	800.86	800.86	800.86	800.86
Other Intangible Assets	349.27	106.77	127.81	133.89	88.22	185
Restricted Cash	500	500	500	500	500	500
Other Current Assets	2,315	866.15	757.48	3,509	4,835	7,188
Long-Term Deferred Tax Assets	-	-	21.5	1.25	6.17	149.38
Other Long-Term Assets	-	-	-	-0	-	-0
Total Assets	355,829	318,096	268,171	222,381	243,098	159,476
Accounts Payable	-	-	-	62.51	116.79	326.84
Accrued Expenses	3,115	4,299	2,664	2,077	2,481	2,429
Insurance & Annuity Liabilities	246,086	219,714	190,035	97,289	118,080	87,888
Unpaid Claims	-	-	-	16,502	12,993	9,532
Unearned Premiums	2,814	2,355	3,056	7,753	6,012	4,687
Reinsurance Payable	1,969	930.62	1,302	1,878	945.83	167.44
Current Income Taxes Payable	1,901	845.06	669.54	407.28	358.1	487.11
Long-Term Debt	-	-	-	-	-	2,629
Long-Term Deferred Tax Liabilities	0.5	0.5	7.67	7.67	8.84	629.28
Other Current Liabilities	29,664	34,267	28,014	34,649	45,073	21,380
Other Long-Term Liabilities	4,277	3,855	3,213	22,830	21,835	-0
Total Liabilities	289,826	266,265	228,961	184,007	208,439	130,566
Common Stock	18,303	18,303	18,303	18,303	7,844	3,465
Additional Paid-In Capital	64.75	64.75	64.75	64.75	7,037	2,824
Retained Earnings	44,262	31,371	20,454	19,356	17,340	12,377
Comprensive Income & Other	2,816	1,656	-32.61	305.27	1,481	9,248
Total Common Equity	65,445	51,395	38,789	38,029	33,702	27,914
Minority Interest	557.47	435.25	422.4	345.3	957.24	995.6
Shareholders' Equity	66,003	51,830	39,211	38,374	34,659	28,910
Total Liabilities & Equity	355,829	318,096	268,171	222,381	243,098	159,476
Filing Date Shares Outstanding	36,605	36,605	36,605	36,605	36,605	21,830
Total Common Shares Outstanding	36,605	36,605	36,605	36,605	36,605	21,830
Total Debt	-	-	-	-	-	2,629
Net Cash (Debt)	24,408	18,423	15,915	25,490	31,913	7,451
Net Cash Growth	2.80%	15.75%	-37.56%	-20.13%	328.33%	148.36%
Net Cash Per Share	0.67	0.50	0.43	0.70	0.87	0.34
Book Value Per Share	1.79	1.40	1.06	1.04	0.92	1.28
Tangible Book Value	64,295	50,487	37,860	37,094	32,813	26,929
Tangible Book Value Per Share	1.76	1.38	1.03	1.01	0.90	1.23
Land	2,065	2,065	2,065	1,715	1,715	1,715
Buildings	4,658	4,588	4,566	4,095	4,095	4,090
Machinery	6,430	6,146	5,696	4,261	4,188	4,362
Construction In Progress	779.25	688.67	9.86	22.42	88.21	563.21

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