End-of-day quote
Nigerian S.E.
18:00:00 2024-06-02 EDT
5-day change
1st Jan Change
0.32
NGN
+6.67%
+3.23%
+10.34%
GUINEA INSURANCE : EARNINGFORCAST
September 13, 2023 at 02:45 pm
TOTAL
FORECAST INCOME STATEMENT FOR THE 4TH QUARTER
ENDING DECEMBER 31ST 2023
=N=' 000
Gross premium written
2,652,125
Changes in unearned premuim
(344,776)
Gross premium income
2,307,349
Reinsurance expenses
(477,383)
Net premium income
1,829,966
Fees and commission income on reinsurance
150,375
Net underwriting Income
1,980,342
Claims expenses
(445,557)
Underwriting expenses
(411,542)
Underwriting profit
1,123,243
Investment Income
394,007
Fair value gains on investment properties
-
Other operating income/(loss)
-
Impairment (charge)/reversal
-
Finance cost
-
Other operating expenses
(983,615)
Profit/(Loss) before taxation
533,635
Income tax (expense)/credit
(13,261)
Profit/(Loss) after taxation
520,374
GUINEA INSURANCE PLC
FORECAST STATEMENT OF CASH FLOWS FOR THE 4TH
QUARTER ENDING DECEMBER 31ST 2023
TOTAL
Operating activities:
N'000
Premium received
2,652,125
Commission received
131,280
Commission paid
(351,937)
Maintenance cost
(134,859)
Reinsurance premium paid
(477,383)
Gross claim paid
(636,510)
Reinsurance recoveries
210,048
Payments to employees
(455,108)
Other operating expenses
(752,684)
Other income received
-
Tax paid
(20,000)
Net cash flow from operating activities
164,974
Investing activities:
Investment income received
394,007
Purchase of property and equipment
(80,445)
Proceed from sale of property and equipment
-
Purchase of financial assets
(461,470)
Purchase of investment properties
-
Net cash flows from investing activities
(147,908)
Financing activities:
Deposit for shares
Interest repayment on finance lease
-
principal repayment on finance lease
-
Net cash flows from financing activities
-
Net increase in cash and cash equivalents
17,066
Effect of exchange rate changes on cash and cash equivalent
Cash and cash equivalents at 1 January
515,176
Cash and cash equivalents at 31 December, 2023
532,241
……………………………………
ED, FINANCE & ADMIN
…………………………………….
MANAGING DIRECTOR/CEO
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Guinea Insurance plc published this content on 13 September 2023 and is solely responsible for the information contained therein. Distributed by Public , unedited and unaltered, on 13 September 2023 18:44:04 UTC .
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