Universal Insurance Cash Flow 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
Net Income	4,495	1,941	530.06	314.51	151.43
Depreciation & Amortization	722.1	308.85	200.69	119.61	95.49
Other Amortization	89.22	28.72	21.36	19.67	19.08
Other Operating Activities	-11,223	228.67	1,198	-576.54	-259.75
Operating Cash Flow	-5,917	2,507	1,950	-122.76	6.24
Operating Cash Flow Growth	-	28.58%	-	-	-98.09%
Capital Expenditures	-311.04	-694.53	-1,684	-	-46.28
Sale of Property, Plant & Equipment	-	-	-	84.84	-
Purchase / Sale of Intangible Assets	-125.28	-60.12	-20.26	-21.29	-25.39
Investment in Securities	-	-	-	-20	-
Other Investing Activities	301.59	205.91	323.59	79.21	10.33
Investing Cash Flow	-785.6	-548.74	-1,380	122.76	-61.34
Miscellaneous Cash Flow Adjustments	-	-	-	-	-0
Net Cash Flow	-6,702	1,959	569.7	-	-55.1
Free Cash Flow	-6,228	1,813	266.37	-122.76	-40.04
Free Cash Flow Growth	-	580.54%	-	-	-
Free Cash Flow Margin	-24.88%	13.36%	3.15%	-2.44%	-1.37%
Free Cash Flow Per Share	-0.39	0.11	0.02	-0.01	-0.00
Cash Income Tax Paid	43.12	31.3	6.46	0.03	10.13
Levered Free Cash Flow	4,308	265.07	-507.48	-1,360	609.77
Unlevered Free Cash Flow	4,308	265.07	-507.48	-1,360	609.77

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