Veritas Kapital Assurance Plc (NGX: VERITASKAP)

Veritas Kapital Assurance 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	10,391	-	-	3,005	3,377	-
Investments in Equity & Preferred Securities	433.49	-	-	69.91	58.41	-
Other Investments	-	8,123	5,502	300.88	184.99	2,122
Total Investments	10,965	8,237	5,615	3,421	3,910	2,581
Cash & Equivalents	10,143	6,557	4,400	5,882	4,233	4,354
Reinsurance Recoverable	9,121	1,807	970.99	1,116	1,026	389.96
Other Receivables	4,367	1,322	739.98	198.05	246.45	-13.89
Deferred Policy Acquisition Cost	-	-	-	286.64	119.38	107.34
Property, Plant & Equipment	5,585	5,436	4,557	4,729	3,791	3,737
Goodwill	316.88	316.88	316.88	316.88	316.88	316.88
Other Intangible Assets	346.2	422.75	68.11	102.3	49.9	72.57
Restricted Cash	363.04	363.04	364.24	364.24	364.24	373.2
Other Current Assets	274.29	81.03	84.42	75.9	-	177.59
Long-Term Deferred Tax Assets	21.75	60.85	60.85	22.29	7.32	8.49
Long-Term Deferred Charges	48.05	48.05	44.65	22.25	-	-
Other Long-Term Assets	28.35	28.35	28.35	28.35	158.03	-
Total Assets	41,580	24,680	17,250	16,565	14,222	12,104
Accrued Expenses	973.17	831.73	505.38	749.01	403.57	462.93
Insurance & Annuity Liabilities	20,207	6,594	3,688	489.16	807.95	248.29
Unpaid Claims	-	-	-	2,006	1,231	1,319
Unearned Premiums	-	-	-	2,146	1,625	693.67
Current Income Taxes Payable	172.98	187.03	109.06	86.65	94.46	80.31
Long-Term Deferred Tax Liabilities	199.48	184.75	27.46	20.74	324.76	554.98
Other Current Liabilities	394.46	187.18	212.4	101.9	108.94	85.64
Other Long-Term Liabilities	0	-	-0	-	-	-
Total Liabilities	22,344	8,311	4,791	5,762	4,718	3,541
Common Stock	6,933	6,933	6,933	6,933	6,933	6,933
Additional Paid-In Capital	663.6	663.6	663.6	663.6	663.6	663.6
Retained Earnings	5,631	2,909	449.07	67.45	-437.85	-1,323
Comprehensive Income & Other	3,871	3,871	2,521	2,450	1,851	1,850
Total Common Equity	17,099	14,377	10,567	10,114	9,010	8,124
Minority Interest	2,137	1,992	1,892	688.78	494.37	439.02
Shareholders' Equity	19,236	16,369	12,459	10,803	9,504	8,563
Total Liabilities & Equity	41,580	24,680	17,250	16,565	14,222	12,104
Filing Date Shares Outstanding	13,867	13,867	13,867	13,867	-	-
Total Common Shares Outstanding	13,867	13,867	13,867	13,867	-	-
Net Cash (Debt)	10,143	6,557	4,400	5,882	4,233	4,354
Net Cash Growth	97.43%	49.03%	-25.20%	38.95%	-2.78%	-1.71%
Net Cash Per Share	0.73	0.47	0.32	0.42	-	-
Book Value Per Share	1.23	1.04	0.76	0.73	-	-
Tangible Book Value	16,436	13,638	10,182	9,695	8,643	7,735
Tangible Book Value Per Share	1.19	0.98	0.73	0.70	-	-
Land	1,307	1,307	1,265	1,228	931.39	921.27
Buildings	3,891	3,847	2,964	3,151	2,570	2,267
Machinery	1,932	1,753	1,475	1,510	1,412	1,293
Construction In Progress	62.18	-	191.38	-	2.36	257.68

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