Royal Exchange Balance Sheet

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2016 - 2020
Investments in Debt Securities	539.57	143.54	-	-	195.09	4,078	Upgrade
Investments in Equity & Preferred Securities	7,054	6,617	5,729	5,081	4,689	897.68	Upgrade
Policy Loans	-	-	-	-	-	96.21	Upgrade
Other Investments	4.39	-	-	-	-	1.65	Upgrade
Total Investments	7,666	6,817	5,779	5,111	5,329	11,974	Upgrade
Cash & Equivalents	660.92	1,158	470.71	608.57	620.56	12,807	Upgrade
Reinsurance Recoverable	-	-	-	-	-	1,743	Upgrade
Other Receivables	1,028	796.33	1,026	1,244	1,164	1,437	Upgrade
Deferred Policy Acquisition Cost	-	-	-	-	0.39	281.42	Upgrade
Property, Plant & Equipment	26.76	20.46	14.53	18.38	37.13	1,392	Upgrade
Other Intangible Assets	-	-	-	-	9.8	5.13	Upgrade
Restricted Cash	-	-	-	-	-	555	Upgrade
Other Current Assets	106.65	209.57	295.03	167.14	6,835	1,672	Upgrade
Long-Term Deferred Tax Assets	-	-	-	-	201.59	193.97	Upgrade
Other Long-Term Assets	203.83	203.83	485.7	478.91	65.09	313.06	Upgrade
Total Assets	9,693	9,205	8,070	7,628	14,263	32,374	Upgrade
Accrued Expenses	132.36	209.62	182.29	94.62	434.47	1,605	Upgrade
Insurance & Annuity Liabilities	-	-	-	-	-	4,930	Upgrade
Unpaid Claims	-	-	-	-	127.56	4,849	Upgrade
Unearned Premiums	-	-	-	-	5.82	7,551	Upgrade
Reinsurance Payable	-	-	-	-	-	356.09	Upgrade
Short-Term Debt	-	-	-	-	2,052	1,999	Upgrade
Current Income Taxes Payable	6.52	30.83	240.39	234.7	240.08	650.2	Upgrade
Long-Term Debt	1,040	1,122	1,835	544.78	361	185.57	Upgrade
Long-Term Leases	-	0.17	0.17	0.17	-	-	Upgrade
Long-Term Deferred Tax Liabilities	-	-	-	-	29.73	610.1	Upgrade
Other Current Liabilities	98.24	350.62	479.2	1,645	8,082	375.78	Upgrade
Other Long-Term Liabilities	1,246	1,236	1,537	3,013	920.63	1,701	Upgrade
Total Liabilities	2,523	2,949	4,279	5,523	12,254	24,839	Upgrade
Common Stock	4,433	4,133	2,573	2,573	2,573	2,573	Upgrade
Additional Paid-In Capital	3,251	2,691	2,691	2,691	2,691	2,691	Upgrade
Retained Earnings	-468.82	-522.82	-1,427	-3,107	-3,369	-1,279	Upgrade
Treasury Stock	-	-	-	-	-	-500	Upgrade
Comprehensive Income & Other	-45.52	-45.52	-45.52	-51.63	-2.41	178.07	Upgrade
Total Common Equity	7,170	6,256	3,792	2,105	1,892	3,662	Upgrade
Minority Interest	-	-	-	-	117.25	3,873	Upgrade
Shareholders' Equity	7,170	6,256	3,792	2,105	2,009	7,535	Upgrade
Total Liabilities & Equity	9,693	9,205	8,070	7,628	14,263	32,374	Upgrade
Filing Date Shares Outstanding	5,145	8,267	5,145	5,145	5,145	4,895	Upgrade
Total Common Shares Outstanding	5,145	8,267	5,145	5,145	5,145	4,895	Upgrade
Total Debt	1,040	1,122	1,835	544.95	2,413	2,185	Upgrade
Net Cash (Debt)	-379.27	35.73	-1,364	63.63	-1,792	10,622	Upgrade
Net Cash Growth	-	-	-	-	-	-8.10%	Upgrade
Net Cash Per Share	-0.09	0.01	-0.27	0.01	-0.35	2.06	Upgrade
Book Value Per Share	1.39	0.76	0.74	0.41	0.37	0.75	Upgrade
Tangible Book Value	7,170	6,256	3,792	2,105	1,882	3,657	Upgrade
Tangible Book Value Per Share	1.39	0.76	0.74	0.41	0.37	0.75	Upgrade
Land	-	-	-	-	-	193.32	Upgrade
Buildings	-	-	-	-	-	1,188	Upgrade
Machinery	-	183.2	183.87	-	390.26	1,699	Upgrade

Updated Jan 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.