Mutual Benefits Assurance Plc (NGX:MBENEFIT)

Mutual Benefits Assurance Balance Sheet

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

Fiscal Year	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	-	3,057	3,143	21,808	7,645
Investments in Equity & Preferred Securities	488.71	513.05	556.61	231.93	369.88
Other Investments	42,133	36,395	33,275	18,887	23,378
Total Investments	47,178	45,312	43,141	47,815	38,502
Cash & Equivalents	33,461	18,751	14,164	11,420	6,821
Reinsurance Recoverable	4,865	4,827	3,682	3,790	3,726
Other Receivables	17,534	16,097	15,519	13,577	12,428
Deferred Policy Acquisition Cost	-	-	950.02	587.98	526.62
Property, Plant & Equipment	4,700	3,438	3,483	3,423	3,426
Other Intangible Assets	690.02	383.3	333.98	46.85	50.09
Restricted Cash	500	500	500	500	500
Other Current Assets	836.13	515.31	1,428	1,097	1,497
Long-Term Deferred Tax Assets	694	576.27	578.48	612.08	300.82
Total Assets	110,459	90,399	83,780	82,869	67,778
Accounts Payable	1,148	736.03	830.95	-	-
Accrued Expenses	1,930	1,692	1,527	2,687	1,292
Insurance & Annuity Liabilities	32,766	27,252	24.65	25.02	19.91
Unpaid Claims	-	-	14,736	12,014	9,098
Unearned Premiums	1,705	1,363	9,936	6,695	6,595
Reinsurance Payable	1,606	1,219	791.8	674.67	408.21
Current Portion of Long-Term Debt	-	-	1,937	2,585	-
Current Income Taxes Payable	865.92	769.87	485.12	904.7	893.37
Long-Term Debt	400.87	400.87	400.87	1,306	6,753
Long-Term Deferred Tax Liabilities	3,663	1,443	1,365	1,529	1,045
Other Current Liabilities	16,208	18,269	14,613	12,378	10,767
Other Long-Term Liabilities	20,109	18,059	17,144	17,353	16,304
Total Liabilities	80,458	71,456	63,904	58,181	53,244
Common Stock	10,031	10,031	10,031	5,586	5,586
Additional Paid-In Capital	276.49	276.49	276.49	-	-
Retained Earnings	10,149	4,479	5,590	11,166	6,061
Treasury Stock	-0.25	-0.25	-0.25	-0.25	-0.25
Comprehensive Income & Other	7,122	3,411	2,511	6,603	1,785
Total Common Equity	27,579	18,197	18,409	23,355	13,433
Minority Interest	2,422	745.86	1,467	1,334	1,101
Shareholders' Equity	30,001	18,943	19,876	24,689	14,534
Total Liabilities & Equity	110,459	90,399	83,780	82,869	67,778
Filing Date Shares Outstanding	20,061	20,061	20,061	11,172	11,172
Total Common Shares Outstanding	20,061	20,061	20,061	11,172	11,172
Total Debt	400.87	400.87	2,338	3,890	6,753
Net Cash (Debt)	33,061	18,350	11,826	7,530	68.16
Net Cash Growth	80.17%	55.16%	57.05%	10947.39%	-
Net Cash Per Share	1.65	0.91	0.76	0.67	0.01
Book Value Per Share	1.37	0.91	0.92	2.09	1.20
Tangible Book Value	26,889	17,814	18,075	23,308	13,383
Tangible Book Value Per Share	1.34	0.89	0.90	2.09	1.20
Land	1,375	1,375	414.54	414.55	-
Buildings	4,132	2,865	2,813	2,665	-
Machinery	4,949	3,946	3,734	3,512	-
Leasehold Improvements	740.87	729.87	1,799	1,799	-

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