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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Investments in Debt Securities	31,811	16,451	6,923	4,237	3,477	225.38
Investments in Equity & Preferred Securities	75.22	71.2	53.73	84.88	494.06	435.17
Other Investments	16,343	9,917	5,236	3,906	2,629	1,975
Total Investments	50,584	28,793	14,027	9,935	8,217	4,225
Cash & Equivalents	5,456	16,783	8,878	7,895	7,352	8,102
Reinsurance Recoverable	22,341	9,479	9,712	7,566	5,108	5,526
Other Receivables	7,166	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	9,657	10,463	5,801	5,354	4,479	2,486
Property, Plant & Equipment	4,733	4,610	4,036	4,005	2,922	3,032
Other Intangible Assets	43.98	42.16	15.72	0.01	0.01	1.23
Restricted Cash	320	320	320	320	320	320
Other Current Assets	2,343	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	102,644	75,264	45,888	38,257	31,201	25,684
Accrued Expenses	566.2	797.04	606.5	696.42	429.71	497.96
Unpaid Claims	8,312	6,892	7,380	5,888	4,780	4,354
Unearned Premiums	38,549	19,485	9,092	6,848	5,668	5,196
Reinsurance Payable	180.38	130.85	192.07	147.53	322.16	25.41
Current Portion of Leases	-	-	-	-	-	117.64
Current Income Taxes Payable	2,347	2,264	379.22	623.51	675.78	462.42
Long-Term Leases	471.34	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	1,197	1,214	969.22	833.92	732.3	393.42
Total Liabilities	56,328	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	39,237	36,977	20,085	15,749	12,219	10,030
Comprensive Income & Other	2,062	2,058	2,099	2,144	1,125	1,154
Shareholders' Equity	46,316	44,051	27,200	22,909	18,361	14,098
Total Liabilities & Equity	102,644	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	471.34	427.41	36	139.62	47.96	117.64
Net Cash (Debt)	4,984	16,356	8,842	7,756	7,304	7,984
Net Cash Growth	-59.93%	84.98%	14.00%	6.18%	-8.52%	19.22%
Net Cash Per Share	0.99	3.26	1.76	1.55	1.46	1.59
Book Value Per Share	9.23	8.78	5.42	4.57	3.66	2.81
Tangible Book Value	46,272	44,009	27,184	22,909	18,361	14,097
Tangible Book Value Per Share	9.22	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	1,468	1,333	1,102	891.64	1,004	1,739

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