THE NIGERIAN STOCK EXCHANGE FACTBOOK 2008

Published Under the Authority

of the Council of:

THE NIGERIAN STOCK EXCHANGE

STOCK EXCHANGE HOUSE

2/4 Customs Street,

P.O. Box 2457, Lagos

Telephone: 234-01-2660287, 2660305, 2660335, 2669978, 2661293

Telex 23567 STEX.NG

Fax: 234-01-2668281, 2668724

E-mail: nse@nigerianstockexchange.biz

Website:www.nigerianstockexchange.com

BRANCHES:

Abuja (Area Office)

Kaduna

Port Harcourt

Kano

Onitsha

Ibadan

Yola

Benin

Ilorin

Uyo

EDITORIAL BOARD

Prof. Ndi Okereke-Onyiuke, PhD, OON (Chairman)

Mr. Kene Okafor (Editor)

Mr. Farooq Oreagba (Editor)

Mr. Arize Nwobu (Deputy Editor)

Copyright:

The Nigerian Stock Exchange

ISBN 978 0262 - 1 - 6

Design/Typesetting by: Management Information Technology Department of The Nigerian Stock Exchange, 2/4 Customs Street, Lagos.

Produced by:

Pathway Communications Ltd.,

5/6, Adekunle Odunlami Crescent,

Next to AfriBank Estate,

Ilupeju - Lagos.

Nigeria.

Tel: 01-7911733

FACTBOOK 2008

INTERCONTINENTAL WAPIC INSURANCE PLC

1. Head Office: Intercontinental Wapic House, 119, Awolowo Road, South West, Ikoyi, P. O. Box 55508, Falomo, Ikoyi, Lagos. Tel: 234-01-4611637, 8119857, 4615153 Fax: 234-01-2693838. Website: www.wapicinsurance.com 2. Nature of Business: Insurance (All Classes excluding Life) 3. Date of Incorporation: 1958 4. Date Listed on The Exchange: September, 1990 5. NSE Classification: Insurance 6. Board of Directors: Engr. Hyacinth U. F. Enuha (Chairman) Mr. Segun A. Balogun (MD/CEO) Dr. Raymond C. Obieri, OON Dr. Erastus B. O. Akingbola (MON) Mr. Chris Alabi Alhaji Isyaku Umar (OON) Mr. Iheanacho Ugochukwu Mr. Daniel O. Amusan Mr. Richard A. Adewole 7. Company Secretary/Legal Adviser: Mrs. Victoria Ishola

8. Auditors: PricewaterhouseCoopers (Chartered Accountants) 252E, Muri Okunola Street, Off Ajose Adeogun Street, Victoria Island, P. O. Box 2419, Lagos. Tel: 234-01-2711700 9. Company Registrars: Intercontinental Registrars Limited 10. End of Accounting Year February 28th/29th 11. Capital Structure i. Authorised: N7,000,000,000.00 ii. Paid-Up N2,109,085,000.00 12. No. of Employees 159 13. Analysis of Shareholding Intercontinental Bank Plc - 59.83% Shipeville Limited, U.K. - 1.17% Other Nigerians citizens & Asso. - 39%

FIVE-YEAR FINANCIAL SUMMARY ASSETS EMPLOYED 31-Dec-08 28-Feb-07 28-Feb-06 28-Feb-05 31-Dec-03 N‘000 N‘000 N‘000 N‘000 N‘000 Cash & short term funds 6,258,208 8,232,080 667,632 1,358,343 928,097 Trade & other receivables 3,637,644 2,559,132 1,396,894 654,099 305,603 Loan to policy holders 12,935 9,168 4,296 - - Deferred acquisition expenses 52,951 94,180 97,390 67,599 - Investment securities 1,615,620 310,437 203,595 349,437 133,603 Statutory deposit 500,000 35,000 35,000 35,000 20,500 Fixed assets 350,510 318,507 236,720 223,925 189,217 ------------ ------------ ---------- ---------- ----------- Total Assets 12,127,868 11,558,505 2,641,527 2,688,403 1,577,020 ======= ======= ======= ======= ====== LIABILITIES Due to reinsurers and brokers 288,274 - 164,015 - - Other payables 524,761 412,496 455,487 830,441 217,511 Outstanding claims 235,435 103,649 87,141 86,079 58,702 Insurance Funds 1,492,783 1,164,218 532,069 527,248 288,140 Secured funds 175,776 273,626 255,284 252,610 196,152 Company income tax 454,551 257,887 107,818 55,217 - Deferred income tax 50,145 42,090 25,637 17,327 20,521 ------------ ------------ ---------- ---------- ----------- Total liabilities 3,221,725 2,253,966 1,627,451 1,768,922 781,026 ======= ======= ======= ======= ====== CAPITAL AND RESERVES Share capital 2,109,085 500,000 416,667 416,667 416,667 Share premium 5,662,444 20,857 20,857 20,857 20,857 Bonus issue reserve - - 83,333 - - Deposit for share - 7,723,608 - - - Contingency reserve 472,986 349,839 206,474 157,930 90,184 Revaluation reserve 106,406 106,406 106,406 106,406 131,079 Retained earnings 555,222 603,828 180,339 217,621 137,207 ———— ——-—— ———— ———— ———— Shareholders’ funds 8,906,143 9,304,538 1,014,076 919,481 795,994 ———— ——-—— ———— ———— ———— Total liabilities and reserves 12,127,868 11,558,504 2,641,527 2,688,403 1,577,020 ======= ======= ======= ======= ====== PROFIT AND LOSS ACCOUNTS Gross Income 3,890,927 3,153,032 1,301,650 1,667,561 754,301 Net written premium 3,381,958 2,280,012 1,134,198 1,206,889 539,124 ———— ————— ———— ———— ———— Profit before tax 807,035 922,370 323,587 357,857 277,290 Taxation (273,704) (221,249) (83,774) (29,622) (33,300) ———— ————— ———— ———— ———— Profit after taxation 533,331 701,121 239,813 328,235 243,990 Transfer to Contingency reserve (106,666) (140,224) (47,963) (60,321) (48,798) Dividend - - (145,800) (187,500) (87,500) ———— ————— ———— ———— ———— Transfer to revenue reserve 426,665 560,897 46,050 80,414 107,692 ———— ————— ———— ———— ———— Earnings per share (kobo) 19k 70k 29k 39k 29k Dividend per share (kobo) 12.5k 12.5k 17.5k 22.5k 10.5k Net assets per share (kobo) 210k 1,174k 122k 110k 96k

Important Note:

While every effort is made to ensure accuracy, no responsibility is accepted for any error, which may occur in this book.

Home | The Stock Exchange| Quoted Companies | Issuing Houses | The Registrars

© Nigerian Stock Exchange

All Rights Reserved