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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	36,153	27,963	11,928	6,290	5,799	6,137
Investments in Equity & Preferred Securities	3,222	2,696	1,502	1,448	1,523	2,688
Policy Loans	201.46	134	137.05	293.28	288.27	327.78
Other Investments	2,630	2,821	1,948	1,468	3,858	2,074
Total Investments	65,623	45,228	24,179	19,189	19,276	13,776
Cash & Equivalents	26,307	19,217	10,886	14,402	11,663	12,649
Reinsurance Recoverable	13,070	10,484	8,039	4,928	4,077	3,190
Other Receivables	4,095	1,262	952.12	994.27	466.33	314.87
Deferred Policy Acquisition Cost	-	-	-	853.73	567.6	257.87
Property, Plant & Equipment	3,726	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	533.15	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	115,429	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	870.49	2,183	721.57	631.87	654.75	524.45
Insurance & Annuity Liabilities	43,755	35,387	26,323	3,151	5,013	2,812
Unpaid Claims	-	-	-	9,029	9,324	6,444
Unearned Premiums	562.39	3,581	2,226	10,990	6,511	4,686
Reinsurance Payable	814.86	1,283	243.17	247.52	234.13	1,624
Current Income Taxes Payable	2,536	599.63	462.9	475.58	445.8	476.72
Long-Term Deferred Tax Liabilities	2,909	3,235	331.6	88.03	-	-
Other Current Liabilities	3,950	1,482	211.64	410.1	130.28	185.13
Other Long-Term Liabilities	1,214	800.15	668.58	3,735	3,675	3,407
Total Liabilities	56,650	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	44,901	21,957	8,255	10,591	7,119	4,938
Treasury Stock	-67.13	-67.13	-67.13	-67.13	-58.44	-48.18
Comprehensive Income & Other	3,855	2,301	477.97	387.89	1,132	426.31
Total Common Equity	57,955	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	58,779	33,919	18,245	20,472	17,724	14,878
Total Liabilities & Equity	115,429	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)	26,307	19,217	10,886	14,402	11,663	12,649
Net Cash Growth	55.43%	76.54%	-24.42%	23.49%	-7.80%	199.25%
Net Cash Per Share	1.45	1.07	0.60	0.80	0.65	0.70
Book Value Per Share	3.21	1.85	0.99	1.12	0.97	0.81
Tangible Book Value	57,940	33,449	17,926	20,166	17,441	14,598
Tangible Book Value Per Share	3.21	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	2,497	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.