Balance Sheet as at 31st December 2009
Cash and bank balances
1,827,516
1,263,561
Short-term investments
11,210,179
10,110,204
Debtors and prepayments
1,424,172
1,578,173
Deferred acquisition costs
105,858
105,620
Loan to policy holders
852,553
714,607
Long-term investments
3,791,089
3,000,501
Statutory deposit
500,000
500,000
Fixed assets
3,240,160
1,939,160
Goodwill on Consolidation
1,166,609
1,166,609
Deferred taxation
709,101
353,477
Total Assets
24827237
20731912
Creditors and accruals
2,714,112
2,661,359
Outstanding claims
938,984
524,092
Insurance funds
5,694,882
4,038,201
Deposit Admin/Pension Funds
1,878,798
1,387,814
Total Liabilities
11,946,353
9,291,268
Net Assets Less Liabilities
12880884
11440644
Called-up share capital
3,520,082
3,485,337
Contingency reserve
948,958
717,571
Fixed assets revaluation reserve
1,029,009
461,447
Quoted investment revaluation reserve
467,830
639,817
Bonus issue reserve
880,020
General reserve
270,479
1,073,199,025
Share premium
5,764,506
6,679,271
SHAREHOLDERS’ FUNDS
12880884
11440644
For the year ended 31 December 2009
Premium
8,799,198
7,474,253
Profit /(Loss) before taxation
879,463
1,572,831
Profit after taxation
1,044,665
624,759
Key Performance Information
Adjusted Earnings per share
15
9
Net assets per share
183
180
Total assets per Share
353
297
For the period ended 31 December 2009
Premiums received from policy holders
8,799,198
7,474,253
Reinsurance receipts in respect of claims
231,660
230,152
Cash paid to and on behalf of employees
1,072,670,255
-712,628
Reinsurance premium paid
1,073,144,469
-502,311
Other operating cash payments
1,069,394,927
1,069,449,987
Claims paid
1,072,357,198
-1,015,202
Company income tax paid
-150,615
-74,459
Net Cash Provided/(Utilized) By Operating Activities
1479796
1107968
Purchase of fixed assets
-253,866
-707,232
Purchase of liquid investments
1,072,639,150
1,072,695,497
Sale of liquid investments
139,996
567,712
Proceeds from sale of fixed assets
14,002
668,146
Investment income
1,469,001
1,752,663
Net Cash (Utilized)/ Provided By Investing Activities
-266459
1234962
Proceeds from public offer
7,090,956
Public offer expenses
-501,023
Net Cash (Utilized)/ Provided By Financing Activities
-32
6589884
Net (Decrease)/increase in cash and cash equivalent
1,071,995,601
8,932,814
Cash and cash equivalent at 1st January 2009
11,242,053
2,309,239
Cash and cash equivalent at 31st December 2009
12988276
11242053
Investment Valuation Ratios
Return On Net Worth(%)
0.08%
Net Premium Income/Insurance Funds
0
Growth in Gross Premiums
0.18%
Growth in Underwriting Profit
Cash Flow Indicator Ratios
Earning Retention Ratio
1%