Cornerstone Insurance Plc (NGX: CORNERST)

Cornerstone 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	36,340	27,963	11,928	6,290	5,799
Investments in Equity & Preferred Securities	4,841	2,696	1,502	1,448	1,523
Policy Loans	206	134	137.05	293.28	288.27
Other Investments	4,091	2,821	1,948	1,468	3,858
Total Investments	69,245	45,228	24,179	19,189	19,276
Cash & Equivalents	21,770	19,217	10,886	14,402	11,663
Reinsurance Recoverable	12,929	10,484	8,039	4,928	4,077
Other Receivables	4,243	1,262	952.12	994.27	466.33
Deferred Policy Acquisition Cost	-	-	-	853.73	567.6
Property, Plant & Equipment	3,765	3,731	2,978	1,838	1,780
Other Intangible Assets	15.17	8.06	6.27	11.81	17.65
Other Current Assets	511.12	515.77	429.29	5,022	3,943
Long-Term Deferred Tax Assets	861.21	861.21	861.21	861.21	838
Other Long-Term Assets	1,200	1,200	1,200	1,200	1,200
Total Assets	114,541	82,509	49,531	49,301	43,828
Accounts Payable	38.3	38.3	96.82	71.09	115.72
Accrued Expenses	1,932	2,183	721.57	631.87	654.75
Insurance & Annuity Liabilities	-	35,387	26,323	3,151	5,013
Unpaid Claims	14,526	-	-	9,029	9,324
Unearned Premiums	31,369	3,581	2,226	10,990	6,511
Reinsurance Payable	1,746	1,283	243.17	247.52	234.13
Current Income Taxes Payable	3,137	599.63	462.9	475.58	445.8
Long-Term Deferred Tax Liabilities	2,909	3,235	331.6	88.03	-
Other Current Liabilities	3,624	1,482	211.64	410.1	130.28
Other Long-Term Liabilities	1,260	800.15	668.58	3,735	3,675
Total Liabilities	60,542	48,590	31,285	28,829	26,104
Common Stock	9,083	9,083	9,083	9,083	9,083
Additional Paid-In Capital	183.17	183.17	183.17	183.17	183.17
Retained Earnings	40,888	21,957	8,255	10,591	7,119
Treasury Stock	-67.13	-67.13	-67.13	-67.13	-58.44
Comprehensive Income & Other	3,087	2,301	477.97	387.89	1,132
Total Common Equity	53,175	33,457	17,932	20,178	17,459
Minority Interest	823.89	461.59	312.93	294.27	265.65
Shareholders' Equity	53,999	33,919	18,245	20,472	17,724
Total Liabilities & Equity	114,541	82,509	49,531	49,301	43,828
Filing Date Shares Outstanding	18,039	18,039	18,039	18,039	18,053
Total Common Shares Outstanding	18,039	18,039	18,039	18,039	18,053
Net Cash (Debt)	21,770	19,217	10,886	14,402	11,663
Net Cash Growth	13.28%	76.54%	-24.42%	23.49%	-7.80%
Net Cash Per Share	1.21	1.07	0.60	0.80	0.65
Book Value Per Share	2.95	1.85	0.99	1.12	0.97
Tangible Book Value	53,159	33,449	17,926	20,166	17,441
Tangible Book Value Per Share	2.95	1.85	0.99	1.12	0.97
Land	2,100	2,100	1,884	1,266	1,266
Buildings	898.54	898.54	651.5	587.11	585.34
Machinery	2,737	2,357	1,888	1,677	1,529
Leasehold Improvements	64.88	64.88	64.88	64.88	64.88

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