Cornerstone Insurance Plc (NGX: CORNERST)

Cornerstone 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	42,869	27,963	11,928	6,290	5,799	6,137
Investments in Equity & Preferred Securities	3,242	2,696	1,502	1,448	1,523	2,688
Policy Loans	191.48	134	137.05	293.28	288.27	327.78
Other Investments	2,411	2,821	1,948	1,468	3,858	2,074
Total Investments	72,446	45,228	24,179	19,189	19,276	13,776
Cash & Equivalents	22,725	19,217	10,886	14,402	11,663	12,649
Reinsurance Recoverable	14,088	10,484	8,039	4,928	4,077	3,190
Other Receivables	1,671	1,262	952.12	994.27	466.33	314.87
Deferred Policy Acquisition Cost	-	-	-	853.73	567.6	257.87
Property, Plant & Equipment	3,220	3,731	2,978	1,838	1,780	1,904
Other Intangible Assets	14.74	8.06	6.27	11.81	17.65	29.36
Other Current Assets	536.77	515.77	429.29	5,022	3,943	1,691
Long-Term Deferred Tax Assets	861.21	861.21	861.21	861.21	838	338.92
Other Long-Term Assets	1,200	1,200	1,200	1,200	1,200	1,003
Total Assets	116,764	82,509	49,531	49,301	43,828	35,154
Accounts Payable	38.3	38.3	96.82	71.09	115.72	115.28
Accrued Expenses	278.85	2,183	721.57	631.87	654.75	524.45
Insurance & Annuity Liabilities	-	35,387	26,323	3,151	5,013	2,812
Unpaid Claims	14,225	-	-	9,029	9,324	6,444
Unearned Premiums	31,901	3,581	2,226	10,990	6,511	4,686
Reinsurance Payable	1,105	1,283	243.17	247.52	234.13	1,624
Current Income Taxes Payable	2,739	599.63	462.9	475.58	445.8	476.72
Long-Term Deferred Tax Liabilities	2,365	3,235	331.6	88.03	-	-
Other Current Liabilities	2,118	1,482	211.64	410.1	130.28	185.13
Other Long-Term Liabilities	967.41	800.15	668.58	3,735	3,675	3,407
Total Liabilities	55,739	48,590	31,285	28,829	26,104	20,275
Common Stock	9,083	9,083	9,083	9,083	9,083	7,365
Additional Paid-In Capital	183.17	183.17	183.17	183.17	183.17	1,947
Retained Earnings	48,859	21,957	8,255	10,591	7,119	4,938
Treasury Stock	-67.13	-67.13	-67.13	-67.13	-58.44	-48.18
Comprensive Income & Other	2,143	2,301	477.97	387.89	1,132	426.31
Total Common Equity	60,201	33,457	17,932	20,178	17,459	14,628
Minority Interest	823.89	461.59	312.93	294.27	265.65	250.72
Shareholders' Equity	61,025	33,919	18,245	20,472	17,724	14,878
Total Liabilities & Equity	116,764	82,509	49,531	49,301	43,828	35,154
Filing Date Shares Outstanding	18,039	18,039	18,039	18,039	18,053	18,048
Total Common Shares Outstanding	18,039	18,039	18,039	18,039	18,053	18,048
Net Cash (Debt)	22,725	19,217	10,886	14,402	11,663	12,649
Net Cash Growth	40.27%	76.54%	-24.42%	23.49%	-7.80%	199.25%
Net Cash Per Share	1.26	1.07	0.60	0.80	0.65	0.70
Book Value Per Share	3.34	1.85	0.99	1.12	0.97	0.81
Tangible Book Value	60,186	33,449	17,926	20,166	17,441	14,598
Tangible Book Value Per Share	3.34	1.85	0.99	1.12	0.97	0.81
Land	2,100	2,100	1,884	1,266	1,266	1,289
Buildings	898.54	898.54	651.5	587.11	585.34	602.34
Machinery	2,473	2,357	1,888	1,677	1,529	1,507
Leasehold Improvements	64.88	64.88	64.88	64.88	64.88	64.88

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