Sovereign Trust Insurance Plc (NGX: SOVRENINS)

Sovereign Trust 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	1,639	517.2	487.94	406.48	99.14	188.29
Investments in Equity & Preferred Securities	808.32	462.13	462.13	462.49	136.33	146.11
Total Investments	4,945	3,595	3,046	2,808	1,671	1,469
Cash & Equivalents	6,704	11,947	8,679	7,983	7,274	7,142
Reinsurance Recoverable	6,650	2,734	471.73	808.75	1,176	498.73
Other Receivables	2,538	1,681	1,078	1,071	945.58	773.38
Deferred Policy Acquisition Cost	-	377.78	332.41	394.24	299.94	327.18
Property, Plant & Equipment	3,560	1,598	1,460	1,471	1,612	1,326
Other Intangible Assets	52.05	34.61	61.6	1.84	2.76	6.12
Restricted Cash	315	315	315.1	315	315	315
Other Current Assets	441.18	80.58	1,990	1,545	1,537	1,561
Other Long-Term Assets	0	0	-0.1	-	0	-
Total Assets	25,205	22,363	17,433	16,397	14,833	13,418
Accounts Payable	-	-	5.9	-	35	-
Accrued Expenses	-	46.3	24.5	28.53	62.83	13
Unpaid Claims	3,151	2,231	1,679	1,576	1,607	1,005
Unearned Premiums	3,856	3,037	2,677	2,759	2,308	2,572
Reinsurance Payable	80.02	203.66	227.23	305.13	302.15	457.95
Current Portion of Long-Term Debt	3,625	3,625	2,079	1,714	1,251	901.28
Current Income Taxes Payable	208.21	277.69	161.49	227.78	390.1	159.46
Long-Term Debt	-	-	-	-	-	251.15
Long-Term Leases	35.31	81.65	19.27	19.87	63.38	-
Long-Term Deferred Tax Liabilities	23.67	34.42	63.17	96.37	140.41	207.41
Other Current Liabilities	64.53	54.69	53.51	53.66	48.29	64.36
Other Long-Term Liabilities	-0	-	-	0	-	-
Total Liabilities	11,044	9,591	6,989	6,780	6,207	5,632
Common Stock	7,114	7,103	5,682	5,682	5,682	5,682
Additional Paid-In Capital	33.81	33.82	74.06	74.06	74.06	74.06
Retained Earnings	6,629	5,240	4,292	3,453	2,479	1,791
Comprehensive Income & Other	384.05	395.35	395.35	407.51	391.11	239.32
Shareholders' Equity	14,161	12,772	10,444	9,617	8,626	7,787
Total Liabilities & Equity	25,205	22,363	17,433	16,397	14,833	13,418
Filing Date Shares Outstanding	14,228	14,228	11,364	11,364	11,364	11,364
Total Common Shares Outstanding	14,228	14,228	11,364	11,364	11,364	11,364
Total Debt	3,660	3,707	2,098	1,734	1,314	1,152
Net Cash (Debt)	3,043	8,240	6,581	6,249	5,960	5,989
Net Cash Growth	-14.83%	25.22%	5.32%	4.84%	-0.49%	52.01%
Net Cash Per Share	0.19	0.58	0.77	0.73	0.52	0.70
Book Value Per Share	1.00	0.90	0.92	0.85	0.76	0.69
Tangible Book Value	14,109	12,737	10,382	9,615	8,623	7,780
Tangible Book Value Per Share	0.99	0.90	0.91	0.85	0.76	0.68
Land	1,522	758.37	758.37	758.37	758.37	522
Buildings	715.64	568.52	422.26	422.26	410.2	634.71
Machinery	2,450	2,172	1,699	1,863	1,817	1,715
Leasehold Improvements	-	-	135.84	135.84	135.84	135.84

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