 | | CONTACT
Akuro House,
24, Campbell Street,
P. O. Box 7365 Marina - 101231
Lagos, Nigeria.
Tel: 234 1 2601160-2, 2601164-5
Fax: 2634409
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|  | | 2001
N'000 | 2001
N'000 | 1999
N'000 | 1998
N'000 | 1997
N'000 |
| ASSETS | | | | | |
| Cash and bank balances
| 8,657 | 9,788 | 16,100 | 19,497 | 22,805 |
| Short-term investments | 71,025 | 73,151 | 63,600 | 57,769 | 36,650 |
| Debtors and prepayment | 334,697 | 252,867 | 162,221 | 117,770 | 112,136 |
| Long-term investments (at cost)
| 30,312 | 31,514 | 25,639 | 20,276 | 17,899 |
| Statutory deposit
| 22,500 | 22,500 | 22,500 | 22,500 | 22,500 |
| Fixed assets
| 23,720 | 20,276 | 22,765 | 22,098 | 21,149 |
| | 490,911
| 410,096 | 312,825 | 262,410 | 235,639 |
| LIABILITIES | | | | | |
| Creditors and accruals | 90,056 | 74,836 | 44,926 | 40,404 | 86,186 |
| Outstanding claims | 36,212 | 33,787 | 30,580 | 18,565 | 17,477 |
| Reinsurance funds | 120,561 | 91,833 | 79,920 | 72,062 | 28,188 |
| | 246,829 | 200,456 | 155,426 | 131,031 | 131,851
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| NET ASSETS | 244,082 | 209,640 | 157,399 | 131,379 | 103,788
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| CAPITAL AND RESERVES | | | | | |
| Paid-up share capital | 150,000 | 150,000 | 138,000 | 137,861 | 78,920 |
| Contingency reserve | 60,564 | 48,211 | 38,771 | 30,034 | 23,347
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| General reserve | 33,518 | 11,429 | (19,372) | (36,516) | 1,521 |
| Shareholders’ fund | 244,082 | 209,640 | 157,399 | 131,379 | 103,788 |
| INCOME AND PROFIT
| | | | | |
| Gross underwriting premium | 398,296 | 320,442 | 280,821 | 227,634
| 216,525 |
| Profit/(loss) before taxation |
58,469 | 55,040 | 27,881 | ( 29,853)
| 10,385 |
| Profit/(loss) after taxation | 49,442 | 54,554 | 25,881 | ( 31,350) | 10,312 |
| Transfer to contingency reserve | ( 12,353) | (8,753) | (8,737) | ( 6,687) | ( 5,718) |
| Proposed dividend | ( 15,000) | (15,000) | - | (3,946) | - |
| Transfer (from)/to general reserve | 22,089 | 30,801 | 17,144 | ( 38,037) | 648 |
| Per N1 share data (actual):
| | | | | |
| Earnings | N0.33 | N0.36 | N0.19 | N0.03 | N0.13 |
| Dividend | N0.10 | N0.10 | - | - | 0.05 |
| Net assets | N1.63 | N1.50 | N1.14 | N0.09 | N1.32 |
| Per N1 share data (adjusted):
| | | | | |
| Earnings | N0.33 | N0.36 | N0.17 | N0.21 | (N0.07) |
| Dividend | N0.10 | N0.10 | - | - | 0.03 |
| Net assets | N1.63 | N1.50 | 0.88 | N1.95 | N0.69 |
| NOTE:
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| Adjusted earnings per share and dividend per share are based on profit after taxation and on paid-up share capital as at 31 December 2001. |
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