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	Dec 31, 2023	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	-	-	5,659	3,143	21,808	7,645
Investments in Equity & Preferred Securities	495.19	495.19	513.05	556.61	231.93	369.88
Other Investments	41,064	41,064	33,793	33,275	18,887	23,378
Total Investments	46,345	46,345	45,312	43,141	47,815	38,502
Cash & Equivalents	30,786	30,786	18,751	14,164	11,420	6,821
Reinsurance Recoverable	7,434	7,434	5,285	3,682	3,790	3,726
Other Receivables	19,911	19,911	16,097	15,519	13,577	12,428
Deferred Policy Acquisition Cost	1,519	1,519	1,009	950.02	587.98	526.62
Property, Plant & Equipment	4,740	4,740	3,438	3,483	3,423	3,426
Other Intangible Assets	607.36	607.36	383.3	333.98	46.85	50.09
Restricted Cash	500	500	500	500	500	500
Other Current Assets	2,181	2,181	1,603	1,428	1,097	1,497
Long-Term Deferred Tax Assets	938.2	938.2	576.27	578.48	612.08	300.82
Total Assets	114,962	114,962	92,953	83,780	82,869	67,778
Accounts Payable	-	-	803.24	830.95	-	-
Accrued Expenses	558.31	558.31	1,738	1,527	2,687	1,292
Insurance & Annuity Liabilities	520.04	520.04	271.5	24.65	25.02	19.91
Unpaid Claims	20,093	20,093	17,001	14,736	12,014	9,098
Unearned Premiums	16,188	16,188	10,492	9,936	6,695	6,595
Reinsurance Payable	2,989	2,989	1,219	791.8	674.67	408.21
Current Portion of Long-Term Debt	-	-	-	1,937	2,585	-
Current Income Taxes Payable	1,375	1,375	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	2,097	2,097	1,443	1,365	1,529	1,045
Other Current Liabilities	18,416	18,416	18,153	14,613	12,378	10,767
Other Long-Term Liabilities	20,151	20,151	18,003	17,144	17,353	16,304
Total Liabilities	82,787	82,787	70,545	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	13,574	13,574	8,601	5,590	11,166	6,061
Treasury Stock	-0.25	-0.25	-0.25	-0.25	-0.25	-0.25
Comprehensive Income & Other	6,124	6,124	2,469	2,511	6,603	1,785
Total Common Equity	30,005	30,005	21,376	18,409	23,355	13,433
Minority Interest	2,169	2,169	1,032	1,467	1,334	1,101
Shareholders' Equity	32,174	32,174	22,408	19,876	24,689	14,534
Total Liabilities & Equity	114,962	114,962	92,953	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)	30,385	30,385	18,350	11,826	7,530	68.16
Net Cash Growth	65.59%	65.59%	55.16%	57.05%	10947.39%	-
Net Cash Per Share	1.51	1.51	0.91	0.76	0.67	0.01
Book Value Per Share	1.50	1.50	1.07	0.92	2.09	1.20
Tangible Book Value	29,398	29,398	20,993	18,075	23,308	13,383
Tangible Book Value Per Share	1.47	1.47	1.05	0.90	2.09	1.20
Land	1,375	1,375	1,375	414.54	414.55	-
Buildings	2,865	2,865	2,865	2,813	2,665	-
Machinery	5,053	5,053	3,946	3,734	3,512	-
Leasehold Improvements	2,008	2,008	729.87	1,799	1,799	-

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