Linkage Assurance Balance Sheet

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-	4,606	2,575	1,842	802.78	150
Investments in Equity & Preferred Securities	-	34,472	26,915	19,474	16,116	18,552
Policy Loans	-	13.66	13.66	13.66	13.66	-
Other Investments	66,493	16,580	16,039	12,067	6,215	3,690
Total Investments	66,833	60,728	47,986	36,059	26,156	27,600
Cash & Equivalents	3,882	4,434	5,417	5,507	4,188	3,477
Reinsurance Recoverable	6,855	4,143	5,571	4,025	4,903	3,839
Other Receivables	5,794	2,829	1,926	1,081	898.81	245.87
Deferred Policy Acquisition Cost	-	-	-	-	-	432.83
Property, Plant & Equipment	3,113	3,199	3,434	3,466	1,606	1,492
Other Intangible Assets	22.86	25.07	33.91	33.1	20.84	36.87
Restricted Cash	770	770	700	700	700	500
Other Current Assets	-	770.55	609.6	456.65	316.51	1,087
Other Long-Term Assets	-	-	-	0	-	-
Total Assets	87,270	76,899	65,677	51,327	38,790	38,710
Accrued Expenses	29.7	1,277	2,109	1,670	779.22	480.81
Insurance & Annuity Liabilities	23,084	6,838	6,680	5,986	3,620	0.98
Unpaid Claims	-	12,241	11,330	10,024	9,572	8,869
Unearned Premiums	-	75.43	22.37	35.53	21.71	2,987
Reinsurance Payable	-	-	-	-	595.73	481.53
Current Income Taxes Payable	624.57	295.85	245.56	174.59	157.85	60.26
Long-Term Deferred Tax Liabilities	9,003	9,003	2,037	-	-	-
Other Current Liabilities	610.67	139.17	65.51	61.95	24.93	635.32
Other Long-Term Liabilities	1,118	343	343	343	343	-
Total Liabilities	34,470	30,213	22,832	18,295	15,199	13,604
Common Stock	9,240	9,240	7,700	7,000	7,000	7,000
Additional Paid-In Capital	253.09	497.46	547.43	560.29	560.29	560.29
Retained Earnings	17,953	11,707	10,121	5,969	687.71	-634.68
Comprehensive Income & Other	25,354	25,242	24,476	19,503	15,344	18,180
Shareholders' Equity	52,800	46,686	42,845	33,032	23,592	25,106
Total Liabilities & Equity	87,270	76,899	65,677	51,327	38,790	38,710
Filing Date Shares Outstanding	18,478	18,480	18,480	18,480	18,480	18,480
Total Common Shares Outstanding	18,478	18,480	18,480	18,480	18,480	18,480
Net Cash (Debt)	3,882	4,434	5,417	5,507	4,188	3,477
Net Cash Growth	-31.35%	-18.15%	-1.65%	31.49%	20.47%	-3.22%
Net Cash Per Share	0.20	0.24	0.29	0.30	0.23	0.19
Book Value Per Share	2.86	2.53	2.32	1.79	1.28	1.36
Tangible Book Value	52,777	46,661	42,811	32,999	23,571	25,069
Tangible Book Value Per Share	2.86	2.52	2.32	1.79	1.28	1.36
Land	-	1,439	1,439	1,439	847.42	847.42
Buildings	-	933.24	926.12	581.18	287.82	287.82
Machinery	-	2,676	2,611	2,477	1,495	1,248
Construction In Progress	-	95.11	92.17	275.88	85.86	85.86

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