NEM Insurance Plc (NGX: NEM)

NEM Insurance 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	34,591	16,451	6,923	4,237	3,477	225.38
Investments in Equity & Preferred Securities	64.19	71.2	53.73	84.88	494.06	435.17
Other Investments	19,892	9,917	5,236	3,906	2,629	1,975
Total Investments	56,902	28,793	14,027	9,935	8,217	4,225
Cash & Equivalents	4,518	16,783	8,878	7,895	7,352	8,102
Reinsurance Recoverable	18,191	9,479	9,712	7,566	5,108	5,526
Other Receivables	4,828	1,451	1,249	1,838	615.37	626.66
Deferred Policy Acquisition Cost	-	2,959	1,447	1,031	1,841	810.1
Separate Account Assets	9,905	10,463	5,801	5,354	4,479	2,486
Property, Plant & Equipment	4,829	4,610	4,036	4,005	2,922	3,032
Other Intangible Assets	40.68	42.16	15.72	0.01	0.01	1.23
Restricted Cash	320	320	320	320	320	320
Other Current Assets	2,326	109.54	147.12	55.46	83.5	264.2
Long-Term Deferred Tax Assets	-	253.57	256.41	257.51	263.04	291.2
Other Long-Term Assets	-0	-	-	-	-	-
Total Assets	101,860	75,264	45,888	38,257	31,201	25,684
Accrued Expenses	353.29	797.04	606.5	696.42	429.71	497.96
Unpaid Claims	9,139	6,892	7,380	5,888	4,780	4,354
Unearned Premiums	32,914	19,485	9,092	6,848	5,668	5,196
Reinsurance Payable	669.76	130.85	192.07	147.53	322.16	25.41
Current Portion of Leases	-	-	-	-	-	117.64
Current Income Taxes Payable	2,879	2,264	379.22	623.51	675.78	462.42
Long-Term Leases	570.36	427.41	36	139.62	47.96	-
Long-Term Deferred Tax Liabilities	4,506	3.69	3.69	10.39	-	356.5
Other Current Liabilities	1,397	1,214	969.22	833.92	732.3	393.42
Total Liabilities	52,628	31,213	18,688	15,348	12,840	11,586
Common Stock	5,016	5,016	5,016	5,016	5,016	2,640
Additional Paid-In Capital	-	-	-	-	-	272.55
Retained Earnings	42,165	36,977	20,085	15,749	12,219	10,030
Comprehensive Income & Other	2,051	2,058	2,099	2,144	1,125	1,154
Shareholders' Equity	49,232	44,051	27,200	22,909	18,361	14,098
Total Liabilities & Equity	101,860	75,264	45,888	38,257	31,201	25,684
Filing Date Shares Outstanding	5,016	5,016	5,016	5,016	5,016	5,016
Total Common Shares Outstanding	5,016	5,016	5,016	5,016	5,016	5,016
Total Debt	570.36	427.41	36	139.62	47.96	117.64
Net Cash (Debt)	3,948	16,356	8,842	7,756	7,304	7,984
Net Cash Growth	-72.91%	84.98%	14.00%	6.18%	-8.52%	19.22%
Net Cash Per Share	0.79	3.26	1.76	1.55	1.46	1.59
Book Value Per Share	9.81	8.78	5.42	4.57	3.66	2.81
Tangible Book Value	49,191	44,009	27,184	22,909	18,361	14,097
Tangible Book Value Per Share	9.81	8.77	5.42	4.57	3.66	2.81
Land	763.43	763.43	763.43	672.2	417.9	417.9
Buildings	2,880	2,875	2,839	2,835	2,197	2,197
Machinery	1,417	1,333	1,102	891.64	1,004	1,739

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