Coronation 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	74,828	49,474	24,566	11,120	8,751
Total Interest & Dividend Income	4,108	2,774	1,959	1,096	1,644
Gain (Loss) on Sale of Investments	1,621	-1,378	-870.93	-1,057	134.73
Other Revenue	-	-	-	-	915.49
Total Revenue	80,556	50,870	25,654	11,158	11,446
Revenue Growth (YoY)	58.36%	98.29%	129.91%	-2.51%	9.65%
Policy Benefits	64,258	43,987	24,479	11,519	5,708
Policy Acquisition & Underwriting Costs	-	-	-	-	2,710
Amortization of Goodwill & Intangibles	-	-	-	-	182.76
Depreciation & Amortization	-	-	-	-	431.95
Selling, General & Administrative	-	-	-	-	2,982
Provision for Bad Debts	-	-	-	-	39.26
Other Operating Expenses	5,281	5,530	568.5	933.78	579.87
Total Operating Expenses	69,540	49,517	25,048	12,453	14,148
Operating Income	11,017	1,353	606.36	-1,294	-2,702
Interest Expense	-	-	-	-	-54.95
Earnings From Equity Investments	405.97	3,041	675.96	-2,235	501.43
Currency Exchange Gain (Loss)	-1,779	8,002	2,071	1,714	634.82
Other Non Operating Income (Expenses)	4.28	311.76	-75.82	-	-261.84
EBT Excluding Unusual Items	9,648	12,708	3,277	-1,816	-1,883
Gain (Loss) on Sale of Assets	-	0.18	-	-	18.2
Asset Writedown	1.51	0.93	4.81	-	-247.71
Other Unusual Items	-	1,102	-1,065	-	-
Pretax Income	9,650	13,811	2,217	-1,816	-2,112
Income Tax Expense	2,134	1,900	398.11	151.96	470.39
Net Income	7,515	11,911	1,819	-1,968	-2,583
Net Income to Common	7,515	11,911	1,819	-1,968	-2,583
Net Income Growth	-36.90%	554.81%	-	-	-
Shares Outstanding (Basic)	23,921	23,921	23,921	23,921	23,921
Shares Outstanding (Diluted)	23,921	23,921	23,921	23,921	23,921
EPS (Basic)	0.31	0.50	0.08	-0.08	-0.11
EPS (Diluted)	0.31	0.50	0.08	-0.08	-0.11
EPS Growth	-36.90%	554.81%	-	-	-
Free Cash Flow	10,455	20,356	8,132	-1,318	-1,831
Free Cash Flow Per Share	0.44	0.85	0.34	-0.06	-0.08
Operating Margin	13.68%	2.66%	2.36%	-11.60%	-23.61%
Profit Margin	9.33%	23.41%	7.09%	-17.63%	-22.56%
Free Cash Flow Margin	12.98%	40.02%	31.70%	-11.81%	-15.99%
EBITDA	11,796	2,613	1,050	-1,001	-2,273
EBITDA Margin	14.64%	5.14%	4.09%	-8.97%	-19.86%
D&A For EBITDA	779.05	1,260	443.32	293.89	429.17
EBIT	11,017	1,353	606.36	-1,294	-2,702
EBIT Margin	13.68%	2.66%	2.36%	-11.60%	-23.61%
Effective Tax Rate	22.12%	13.76%	17.96%	-	-

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.