Veritas Kapital Assurance Balance Sheet

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
Investments in Debt Securities	10,875	10,197	7,472	-	3,005
Investments in Equity & Preferred Securities	490.45	492.06	433.49	-	69.91
Other Investments	217.46	217.46	217.46	5,502	300.88
Total Investments	11,779	11,045	8,237	5,615	3,421
Cash & Equivalents	9,362	11,193	6,557	4,400	5,882
Reinsurance Recoverable	7,435	5,842	1,648	970.99	1,116
Other Receivables	2,873	2,007	1,481	739.98	198.05
Deferred Policy Acquisition Cost	-	-	-	-	286.64
Property, Plant & Equipment	6,116	6,019	5,436	4,557	4,729
Goodwill	316.88	316.88	316.88	316.88	316.88
Other Intangible Assets	410.59	552.53	422.75	68.11	102.3
Restricted Cash	358.82	358.82	363.04	364.24	364.24
Other Current Assets	326.51	89.08	81.03	84.42	75.9
Long-Term Deferred Tax Assets	-	-	60.85	60.85	22.29
Long-Term Deferred Charges	83.05	83.05	48.05	44.65	22.25
Other Long-Term Assets	28.35	34.11	28.35	28.35	28.35
Total Assets	39,088	37,539	24,680	17,250	16,565
Accrued Expenses	2,561	1,160	947.09	505.38	749.01
Insurance & Annuity Liabilities	6,771	18,803	6,594	3,688	489.16
Unpaid Claims	6,158	-	-	-	2,006
Unearned Premiums	-	-	-	-	2,146
Current Income Taxes Payable	319.46	191.45	187.03	109.06	86.65
Long-Term Deferred Tax Liabilities	372.74	282.35	184.75	27.46	20.74
Other Current Liabilities	466.95	369.39	71.83	212.4	101.9
Other Long-Term Liabilities	0	689.61	0	-0	-
Total Liabilities	17,394	21,946	8,311	4,791	5,762
Common Stock	6,933	6,933	6,933	6,933	6,933
Additional Paid-In Capital	663.6	663.6	663.6	663.6	663.6
Retained Earnings	7,597	1,637	2,909	449.07	67.45
Comprehensive Income & Other	4,250	4,250	3,871	2,521	2,450
Total Common Equity	19,444	13,484	14,377	10,567	10,114
Minority Interest	2,250	2,110	1,992	1,892	688.78
Shareholders' Equity	21,695	15,593	16,369	12,459	10,803
Total Liabilities & Equity	39,088	37,539	24,680	17,250	16,565
Filing Date Shares Outstanding	13,867	13,867	13,867	13,867	13,867
Total Common Shares Outstanding	13,867	13,867	13,867	13,867	13,867
Net Cash (Debt)	9,362	11,193	6,557	4,400	5,882
Net Cash Growth	-16.36%	70.71%	49.03%	-25.20%	38.95%
Net Cash Per Share	0.68	0.81	0.47	0.32	0.42
Book Value Per Share	1.40	0.97	1.04	0.76	0.73
Tangible Book Value	18,717	12,614	13,638	10,182	9,695
Tangible Book Value Per Share	1.35	0.91	0.98	0.73	0.70
Land	2,028	-	1,307	1,265	1,228
Buildings	3,564	-	3,847	2,964	3,151
Machinery	2,271	-	1,753	1,475	1,510
Construction In Progress	157.59	-	-	191.38	-

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