Universal Insurance Income Statement

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

Millions NGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	20,957	13,761	8,007	4,839	2,404
Total Interest & Dividend Income	843.2	457.64	-74.38	219.67	118.16
Gain (Loss) on Sale of Investments	3,229	-649.54	523.68	-76.57	279.73
Other Revenue	-	-	-	56.36	122.59
Total Revenue	25,030	13,569	8,456	5,039	2,924
Revenue Growth (YoY)	84.47%	60.46%	67.82%	72.32%	-18.57%
Policy Benefits	17,762	10,963	6,469	3,282	365.51
Policy Acquisition & Underwriting Costs	-	-	-	-	1,119
Amortization of Goodwill & Intangibles	37.29	14.36	21.36	19.67	19.08
Depreciation & Amortization	136.37	136.37	214.17	119.61	95.49
Selling, General & Administrative	1,586	417.98	324.75	658.92	214.73
Other Operating Expenses	29.22	495.7	348.22	474.69	380.85
Total Operating Expenses	20,402	12,752	8,157	5,143	2,791
Operating Income	4,628	816.97	299.36	-104.65	133.52
Other Non Operating Income (Expenses)	-30.57	-26.92	110.93	411.37	15.66
EBT Excluding Unusual Items	4,597	790.05	410.29	306.72	149.18
Gain (Loss) on Sale of Assets	0.5	-	-	0.56	0.01
Asset Writedown	-	1,199	131.82	21.58	13.04
Pretax Income	4,598	1,989	542.1	328.87	162.23
Income Tax Expense	102.58	47.76	12.04	14.36	10.81
Earnings From Continuing Ops.	4,495	1,941	530.06	314.51	151.43
Net Income	4,495	1,941	530.06	314.51	151.43
Net Income to Common	4,495	1,941	530.06	314.51	151.43
Net Income Growth	131.59%	266.20%	68.54%	107.69%	-86.67%
Shares Outstanding (Basic)	16,000	16,000	16,000	16,000	16,000
Shares Outstanding (Diluted)	16,000	16,000	16,000	16,000	16,000
EPS (Basic)	0.28	0.12	0.03	0.02	0.01
EPS (Diluted)	0.28	0.12	0.03	0.02	0.01
EPS Growth	131.60%	266.20%	68.54%	107.69%	-86.67%
Free Cash Flow	-6,228	1,813	266.37	-122.76	-40.04
Free Cash Flow Per Share	-0.39	0.11	0.02	-0.01	-0.00
Operating Margin	18.49%	6.02%	3.54%	-2.08%	4.57%
Profit Margin	17.96%	14.31%	6.27%	6.24%	5.18%
Free Cash Flow Margin	-24.88%	13.36%	3.15%	-2.44%	-1.37%
EBITDA	5,350	1,126	500.05	14.96	229.01
EBITDA Margin	21.38%	8.30%	5.91%	0.30%	7.83%
D&A For EBITDA	722.1	308.85	200.69	119.61	95.49
EBIT	4,628	816.97	299.36	-104.65	133.52
EBIT Margin	18.49%	6.02%	3.54%	-2.08%	4.57%
Effective Tax Rate	2.23%	2.40%	2.22%	4.37%	6.66%
Revenue as Reported	-	-	-	-	2,478

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.