Mutual Benefits Assurance Plc (NGX:MBENEFIT)

Mutual Benefits Assurance 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	-	-	3,057	3,143	21,808	7,645
Investments in Equity & Preferred Securities	676.19	488.71	513.05	556.61	231.93	369.88
Other Investments	47,570	42,133	36,395	33,275	18,887	23,378
Total Investments	52,460	47,178	45,312	43,141	47,815	38,502
Cash & Equivalents	50,256	33,461	18,751	14,164	11,420	6,821
Reinsurance Recoverable	5,724	4,865	4,827	3,682	3,790	3,726
Other Receivables	22,686	17,534	16,097	15,519	13,577	12,428
Deferred Policy Acquisition Cost	-	-	-	950.02	587.98	526.62
Property, Plant & Equipment	6,526	4,700	3,438	3,483	3,423	3,426
Other Intangible Assets	826.07	690.02	383.3	333.98	46.85	50.09
Restricted Cash	500	500	500	500	500	500
Other Current Assets	1,006	836.13	515.31	1,428	1,097	1,497
Long-Term Deferred Tax Assets	694	694	576.27	578.48	612.08	300.82
Total Assets	140,679	110,459	90,399	83,780	82,869	67,778
Accounts Payable	584.11	1,148	736.03	830.95	-	-
Accrued Expenses	1,231	1,930	1,692	1,527	2,687	1,292
Insurance & Annuity Liabilities	28,602	32,766	27,252	24.65	25.02	19.91
Unpaid Claims	18,285	-	-	14,736	12,014	9,098
Unearned Premiums	1,371	1,705	1,363	9,936	6,695	6,595
Reinsurance Payable	3,991	1,606	1,219	791.8	674.67	408.21
Current Portion of Long-Term Debt	-	-	-	1,937	2,585	-
Current Income Taxes Payable	1,695	865.92	769.87	485.12	904.7	893.37
Long-Term Debt	400.87	400.87	400.87	400.87	1,306	6,753
Long-Term Deferred Tax Liabilities	3,663	3,663	1,443	1,365	1,529	1,045
Other Current Liabilities	16,509	16,208	18,269	14,613	12,378	10,767
Other Long-Term Liabilities	19,990	20,109	18,059	17,144	17,353	16,304
Total Liabilities	96,388	80,458	71,456	63,904	58,181	53,244
Common Stock	10,031	10,031	10,031	10,031	5,586	5,586
Additional Paid-In Capital	276.49	276.49	276.49	276.49	-	-
Retained Earnings	16,041	10,149	4,479	5,590	11,166	6,061
Treasury Stock	-0.25	-0.25	-0.25	-0.25	-0.25	-0.25
Comprehensive Income & Other	12,979	7,122	3,411	2,511	6,603	1,785
Total Common Equity	39,327	27,579	18,197	18,409	23,355	13,433
Minority Interest	4,964	2,422	745.86	1,467	1,334	1,101
Shareholders' Equity	44,291	30,001	18,943	19,876	24,689	14,534
Total Liabilities & Equity	140,679	110,459	90,399	83,780	82,869	67,778
Filing Date Shares Outstanding	20,061	20,061	20,061	20,061	11,172	11,172
Total Common Shares Outstanding	20,061	20,061	20,061	20,061	11,172	11,172
Total Debt	400.87	400.87	400.87	2,338	3,890	6,753
Net Cash (Debt)	49,855	33,061	18,350	11,826	7,530	68.16
Net Cash Growth	98.88%	80.17%	55.16%	57.05%	10947.39%	-
Net Cash Per Share	2.49	1.65	0.91	0.76	0.67	0.01
Book Value Per Share	1.96	1.37	0.91	0.92	2.09	1.20
Tangible Book Value	38,501	26,889	17,814	18,075	23,308	13,383
Tangible Book Value Per Share	1.92	1.34	0.89	0.90	2.09	1.20
Land	1,375	1,375	1,375	414.54	414.55	-
Buildings	5,659	4,132	2,865	2,813	2,665	-
Machinery	6,378	4,949	3,946	3,734	3,512	-
Leasehold Improvements	752.45	740.87	729.87	1,799	1,799	-

Updated Mar 13, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.