INTERNATIONAL ENERGY INSURANCE : EARNINGS FORECAST

INTERNATIONAL ENERGY INSURANCE PLC

QUARTERLY PROFIT FORECAST for 2nd Quarter 2022

Quarter Ending:	Q2 2022
	N'000
Gross Premium Written	364,250
Changes in Unexpired Risk	(37,055)
Gross Premium Income	327,195
Reinsurance cost	(35,888)
Net premium earned	291,307
Commission earned	5,033
Underwriting income	296,340
Claims Incurred	(85,524)
Acquisition Cost (Commission Expense)	(16,694)
Maintenance Expenses	(74,598)
Underwriting profit	119,524
Management expenses	(216,669)
Operating (Loss)/profit	(97,145)
Interest and investment income	16,522
Fair Value gain/(loss) on investment	2,615
Other Income	1,050
	(76,958)
Finance cost	-
Profit/(loss) before taxation	(76,958)
Taxation	(3,848)
Profit/(loss) after taxation	(80,806)
Transfer to contigency reserves	(10,927)
Loss for the period	(91,733)

INTERNATIONAL ENERGY INSURANCE PLC

QUARTERLY PROFIT FORECAST for 2nd Quarter 2022

Quarter Ending:	Q2 2022
	N'000
Gross Premium Written	364,250
Changes in Unexpired Risk	(37,055)
Gross Premium Income	327,195
Reinsurance cost	(35,888)
Net premium earned	291,307
Commission earned	5,033
Underwriting income	296,340
Claims Incurred	(85,524)
Acquisition Cost (Commission Expense)	(16,694)
Maintenance Expenses	(74,598)
Underwriting profit	119,524
Management expenses	(216,669)
Operating (Loss)/profit	(97,145)
Interest and investment income	16,522
Fair Value gain/(loss) on investment	2,615
Other Income	1,050
	(76,958)
Finance cost	-
Profit/(loss) before taxation	(76,958)
Taxation	(3,848)
Profit/(loss) after taxation	(80,806)
Transfer to contigency reserves	(10,927)
Loss for the period	(91,733)