|
1. Head Office:
Re-Insurance
Building
10th Floor, Re-Insurance House
46, Marina, Lagos.
Tel: 234-01-4622050-2, 2664873,
Fax: 234-01-2660701.
2. Nature of Business:
Insurance: Life and Pension, Special Risks and General
Insurance Business
3. Date of Incorporation:
3rd December, 1958
4. Date Listed on The Exchange:
1990
5. NSE Classification:
Insurance
6. Board of Directors:
Sir, Emeka Offor KSC (Chairman)
Mr. Nicholas Jerry I. Ojinnaka (MD/CEO)
Mr. Fred Udechukwu
HRH Eze Smart Nze
Prof. ELC Nnabuife
Mr. E. A. Ocholi
Senator M. S. Daggash
Mr. Emeka Agusiobi
7. Company Secretary:
Iveren Du-Sai Esq.,
22, Lobito
Crescent
Wuse 2, Abuja.
8. Auditors:
Akintola Williams Deloitte
(Chartered Accountants)
235, Ikorodu
Road,
Lagos.
|
9. Company Registrars:
City Securities (Registrars) Limited,
Primrose
Tower,
17A Tinubu
Street, Lagos.
Tel: 234-01-2660701, 2666674.
10. Subsidiaries/Associates:
Guinea Trustees Limited
11. End of Accounting Year
31st December
12. Number of Employees
97
13. Capital Structure
i. Authorised: N350,000,000.00
ii. Paid-Up N210,000,000.00
14. Analysis of Shareholding
Chrome Oil Services Ltd - 67%
Lighthouse Asst Management Ltd - 15%
Nigerian individuals & Institutions - 18%
|
|
FIVE-YEAR FINANCIAL SUMMARY
CAPITAL
EMPLOYED 2006 2005 2004 2003 2002
N‘000 N‘000 N‘000 N‘000 N‘000
Cash and bank balance 55,139 10,459 8,578 7,764 3,890
Short term funds 122,788 243,974 283,016 44,397 11,269
Debtors and prepayments 688,978 397,475 236,165 135,760 83,157
Long term investments 59,191 66,931 88,022 28,379 16,690
Statutory deposit 45,000 45,000 45,000 45,000 45,000
Investment properties 83,000 50,000 - - -
Fixed assets 270,546 210,992 219,036 187,507 139,039
------------- ------------ ------------ ------------ ------------
1,324,642 974,921 879,817 448,807 299,045
------------ ------------ ------------ ------------ ------------
LIABILITIES
Bank overdraft 4,043 2,007 - - -
Creditors and accruals 189,520 146,499 114,366 67,529 100,683
Dividend - 4,442 - - -
Outstanding claims 36,577 36,623 35,218 25,070 26,305
Insurance fund 357,237 224,211 185,574 145,510 63,614
Deposit admin 13,513 17,202 39,984 4,510 1,350
Taxation 31,853 16,992 10,990 32,207 -
Deferred tax 12,163 3,047 - - -
----------- ----------- ------------ ------------ ------------
644,906 451,025 386,132 274,826 191,952
====== ====== ====== ====== ======
CAPITAL AND RESERVE
Share capital 360,000 360,000 360,000 120,000 120,000
Share premium 5,149 5,149 5,149 7,876 7,876
Contingency reserve 87,730 67,832 52,940 44,865 36,484
Revaluation reserve 145,020 77,191 77,191 44,191 -
Quoted investment
revaluation reserve 6,429 9,520 9,309 689 -
Profit and loss account 75,408 4,204 (10,904) (43,640) (57,267)
----------- ----------- ------------ ------------ ------------
Shareholders’ funds 679,736 523,896 493,685 173,981 107,093
----------- ----------- ------------ ------------ ------------
1,324,642 974,921 879,817 448,807 299,045
====== ====== ====== ====== ======
PREMIUM AND PROFIT/(LOSS):
Gross premium 678,308 526,183 401,455 334,503 149,852
====== ====== ====== ====== ======
Net premium written 669,296 502,886 349,301 251,705 119,656
====== ====== ====== ====== ======
Profit/(Loss) before
taxation 114,905 39,051 37,682 25,168 (2,523)
====== ====== ====== ====== ======
Profit/(Loss) after taxation 90,918 30,002 31,202 22,008 (3,323)
====== ====== ====== ====== ======
PER 50K SHARE DATA
Earnings per share actual
(k) 12 4 4 9 -
Net assets per share (k) 94 73 69 72 45
Dividend per share actual
(k) - - 3 - -
NOTE:
Earnings, dividend per share
are based on profit after tax and number of ordinary shares of 50k each in
issues at 31 December of every year. Net assets per share are based on the
number of ordinary shares of 50k each in issue at 31 December of every
year.
|
