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1. Head Office:
8, Omo Osagie
Street,
Off Awolowo
Road,
Ikoyi South West, Lagos.
P.O. Box 2314, Lagos.
Tel:
234-01-7300015, 7739626, 7740654, 7746983
2670430, 2695805, 2670423, 2670425,
2670426, 2670429, 681417.
Fax:
234-01-2670422, 2693483;
Website:
greatinsure-ng.com
2. Nature of Business:
Insurance: Life and Pension, Special Risks and General Insurance
Business
3. Date of Incorporation:
28th February, 1960
4. Date Listed on The Exchange:
11th October, 2005
5. NSE Classification:
Insurance
6. Board of Directors:
Mr. Bisi
Omoyeni, (Chairman)
Mr. Michael Abimbola Siyanbola, (MD/CEO)
Mr. Bayo Ogundipe
Mr. Thoephilus Idowu
Mr. A. Salaudeen
Mr. Toye Olofintuyi
Mr. Adebayo Jimoh
7. Company Secretary:
Mrs. Olufunke Olakunri
8 Omo Osagie
Street,
Off Awolowo
Road, S.W. Ikoyi Lagos
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8. Auditors:
Falodun Adewumi Adesanya & Co.,
(Chartered Accountants)
2, Oweh
Street,
Yaba, Lagos.
9. Company Registrars:
Wema Registrars Limited
A.
G. Leventis
Building
2nd Floor, 42/43 Marina,
P. M. B. 12964, Lagos.
10. Subsidiaries/Associates:
Nil
11. End of Accounting Year
31st December
12. Number of Employees
84
13.Capital Structure
i. Authorised: N3,500,000,000.00
ii. Paid-Up N750,000,000.00
14. Analysis of Shareholding
Nigerian Citizens and Associations 100%
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FIVE-YEAR FINANCIAL SUMMARY
BALANCE
SHEET 2007 2006 2005 2004 2003
N‘000 N‘000 N‘000 N‘000 N‘000
ASSETS EMPLOYED:
Cash & Bank Balances 62,164 4,035,557 46,797 15,723 20,162
Short term Investments 735,035 414,697 737,830 254,398 433,593
Other assets 704,785 490,918 1,115,157 1,732,324 868,138
Long term investments 3,986,218 1,062,105 1,150,994 908,546 895,810
Statutory deposit 500,000 35,000 35,000 35,000 35,000
Fixed assets 894,470 892,906 953,548 209,799 157,613
----------- ----------- ------------ ------------ ------------
6,882,672 6,931,183 4,039,326 3,155,790 2,410,316
====== ====== ====== ====== ======
LIABILITIES:
Other liabilities 457,574 388,158 1,297,391 1,481,905 641,530
Outstanding claims 83,215 259,990 131,075 43,860 37,558
Insurance funds 282,642 315,645 453,326 814,010 936,205
----------- ----------- ------------ ------------ ------------
823,431 963,793 1,881,792 2,339,775 1,615,293
----------- ----------- ------------ ------------ ------------
NET ASSETS 6,059,241 5,967,390 2,157,534 816,015 795,023
====== ====== ====== ====== ======
FINANCED BY:
Share Capital 750,000 750,000 750,000 350,000 350,000
Deposit for shares 3,980,000 3,979,800 - - -
Reserves 1,329,241 1,237,590 1,407,534 466,015 445,023
----------- ----------- ------------ ------------ ------------
Shareholders’ fund 6,059,241 5,967,390 2,157,534 816,015 795,023
====== ====== ====== ====== ======
PROFIT & LOSS ACCOUNT:
Gross Premium 748,216 425,252 651,698 728,178 698,229
Investment & Other
Income 351,556 200,642 231,573 351,057 226,811
(Loss)/Profit before tax 163,305 (519,651) (183,589) 92,979 152,327
Taxation (73,056) 364,296 542 (21,650) (35,238)
(Loss)/Profit after tax 90,249 (155,355) (183,047) 71,329 117,089
Proposed dividend - - - 46,200 105,000
Earnings per share (Basic) 6k (10k) (20k) 10k 17k
Dividend per share (Basic) - - - 7k 15k
NOTE:
Basic earnings per share are
calculated by dividing profit/(loss) after taxation for each year by
weighted average number of ordinary shares outstanding during the year.
Dividend per share (basic) are calculated by dividing the proposed dividend
by the number of ordinary shares in issue and ranking for dividend at the
balance sheet dates. Net assets per share are calculated by dividing the
net assets by the number of ordinary shares in issue at the balance sheet
dates.
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