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FIVE-YEAR FINANCIAL SUMMARY
2007 2006 2005 2004 2003
N‘m N‘m N‘m N‘m N‘m
Cash & Bank balance 122,604 50,185 24,578 22,824 14,427
Short-term deposit 1,671,041 1,347,339 1,128,992 238,469 103,651
Debtors 869,720 647,851 398,292 274,707 252,309
Other debtors 150,272 111,050 53,862 32,992 16,332
Ins. Pool Deposit - - 14,200 14,200 14,500
Long term investment 1,964,035 1,434,164 321,810 121,637 186,854
Deferred acquisition cost 78,366 51,556 54,429 - -
Statutory deposit 320,000 40,000 20,000 32,000 10,500
Fixed assets 420,498 284,798 164,456 159,438 163,955
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Total Assets 5,596,536 3,966,943 2,180,619 896,267 762,528
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LIABILITIES
Current liabilities 270,549 494,738 157,622 98,255 76,432
Deferred tax 63,565 22,973 14,681 - -
Insurance funds 686,829 414,291 329,574 286,786 240,691
Deposit for shares - - 600,623 - -
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Total Liabilities 1,020,943 932,002 1,102,500 385,041 317,123
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Net asset 4,575,593 3,034,941 1,078,119 511,226 445,405
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CAPITAL & RESERVES:
Share capital 2,000,000 1,695,834 600,000 230,000 230,000
Contingency reserve 534,614 324,032 172,971 105,404 82,881
Share premium 1,091,411 768,562 - 123 4,353
Bonus issue reserve - - 291,667 115,167 62,500
Revaluation reserve 87,188 87,188 - 54,081 54,081
General reserve 850,380 147,322 13,481 6,451 11,590
Equities equal. reserves 12,000 12,003 - - -
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Shareholders’ funds 4,575,593 3,034,941 1,078,119 511,226 445,405
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PROFIT AND LOSS ACCOUNTS:
Gross Premium 2,714,770 1,608,719 1,039,490 742,821 620,170
Less:
Outward reinsurance 482,167 227,136 150,719 75,774 64,619
Net premium 2,232,603 1,381,583 888,771 667,047 555,551
Movement in reserve
for unexpired risks (163,398) (32,082) (24,786) (52,947) (80,836)
Premium earned 2,069,205 1,349,501 863,985 614,100 474,715
Commission earned 90,967 44,846 24,282 23,098 19,221
Investment income (net) 627,424 265,966 43,590 61,562 45,454
Other income 4,718 376 517 3,731 4,231
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Total income 2,792,314 1,660,689 932,374 702,491 543,621
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Less: Expenses
Underwriting expenses 514,581 332,663 142,970 153,429 127,008
Claims incurred 564,879 300,523 210,309 150,448 141,901
Management expenses 523,924 334,389 234,618 191,617 152,338
Provision for doubtful/bad
debt 136,020 51,705 13,395 - -
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1,739,404 1,019,280 601,292 495,494 421,247
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Profit before tax 1,052,910 641,409 331,082 206,997 122,374
Taxation (139,270) (65,261) (48,130) (24,945) (13,783)
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Profit after tax 913,640 576,148 282,952 182,052 108,591
Appropriations:
Transfer to contingency
reserve (210,582) (128,282) (67,567) (22,523) (28,308)
Bonus issue reserve - - (207,971) (126,667) (62,500)
Dividend - (339,167) - (38,000) (25,000)
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Retained profit transfer to
revenue 703,058 108,699 7,414 (5,138) (7,217)
Prior year adjustment - 7,200 (384) - -
Balance brought forward -
Jan 01 147,322 31,423 6,451 11,589 19,806
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Revenue reserve 31 December 850,380 147,322 13,481 6,451 11,589
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PER 50 KOBO SHARE DATA
Earnings per share 23k 14k 7k 5k 3k
Dividend per share 14k 10k - 10k 10k
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