Cornerstone Insurance Balance Sheet

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	47,393	44,386	27,963	11,928	6,290
Investments in Equity & Preferred Securities	3,872	4,263	2,696	1,502	1,448
Policy Loans	139.49	148.74	134	137.05	293.28
Other Investments	3,841	5,143	2,821	1,948	1,468
Total Investments	88,588	77,244	45,228	24,179	19,189
Cash & Equivalents	22,115	24,061	19,217	10,886	14,402
Reinsurance Recoverable	16,811	12,834	10,484	8,039	4,928
Other Receivables	2,194	1,346	1,262	952.12	994.27
Deferred Policy Acquisition Cost	-	-	-	-	853.73
Property, Plant & Equipment	5,301	4,323	3,731	2,978	1,838
Other Intangible Assets	10.53	15.17	8.06	6.27	11.81
Other Current Assets	382.82	477.66	515.78	429.29	5,022
Long-Term Deferred Tax Assets	-	-	861.21	861.21	861.21
Other Long-Term Assets	2,200	1,200	1,200	1,200	1,200
Total Assets	137,602	121,501	82,509	49,531	49,301
Accounts Payable	-	21.85	38.3	96.82	71.09
Accrued Expenses	146.01	3,775	2,183	721.57	631.87
Insurance & Annuity Liabilities	28,567	28,444	25,892	26,323	3,151
Unpaid Claims	25,465	20,100	12,879	-	9,029
Unearned Premiums	736.92	1,185	1,480	2,226	10,990
Reinsurance Payable	2,530	143.62	-	243.17	247.52
Current Income Taxes Payable	908.81	925.42	599.63	462.9	475.58
Long-Term Deferred Tax Liabilities	4,238	4,520	3,235	331.6	88.03
Other Current Liabilities	5,176	836.03	1,482	211.64	410.1
Other Long-Term Liabilities	-	1,053	800.15	668.58	3,735
Total Liabilities	67,768	61,004	48,590	31,285	28,829
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	46,772	44,633	21,957	8,255	10,591
Treasury Stock	-67.13	-67.13	-67.13	-67.13	-67.13
Comprehensive Income & Other	13,030	5,885	2,301	477.97	387.89
Total Common Equity	69,001	59,717	33,457	17,932	20,178
Minority Interest	833.11	779.52	461.59	312.93	294.27
Shareholders' Equity	69,834	60,497	33,919	18,245	20,472
Total Liabilities & Equity	137,602	121,501	82,509	49,531	49,301
Filing Date Shares Outstanding	18,032	18,039	18,039	18,039	18,039
Total Common Shares Outstanding	18,032	18,039	18,039	18,039	18,039
Net Cash (Debt)	22,115	24,061	19,217	10,886	14,402
Net Cash Growth	-8.09%	25.20%	76.54%	-24.42%	23.49%
Net Cash Per Share	1.23	1.33	1.07	0.60	0.80
Book Value Per Share	3.83	3.31	1.85	0.99	1.12
Tangible Book Value	68,990	59,702	33,449	17,926	20,166
Tangible Book Value Per Share	3.83	3.31	1.85	0.99	1.12
Land	2,525	2,525	2,100	1,884	1,266
Buildings	1,294	1,024	898.54	651.5	587.11
Machinery	3,627	2,670	2,357	1,888	1,677
Leasehold Improvements	64.88	64.88	64.88	64.88	64.88

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.