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1. Head Office:
Linkage
Plaza, Plot 94 Block
20
Lekki - Epe
Expressway,
Lekki Phase 1
P. O. Box
74175,
Victoria Island, Lagos.
Tel: 234-01-8511193-7, 8510568-70, Hotline: 3200388
E-mail: info@linkageassurance.com
Website: www.linkageassurance.com
City Office:
St. Nicholas House, 11th
Floor
13 Catholic
Mission Street
P. O. Box
4342 Lagos.
Tel: 234-01-2632396, 2646794-6
Fax 234-01-2646792
E-mail: cityoffice@linkageassurance.com
2. Nature of Business:
Insurance: Life & Non-Life Businesses
3. Date of Incorporation:
26th March 1991
4. Date Listed on The Exchange:
18th November, 2003
5. NSE Classification:
Insurance.
6. Board of Directors:
Mr. Babatunde R. Fatayi-Williams (Chairman)
Senator Udoma Udo Udoma, (Vice Chairman)
Mr. G. U. S. Wiggle, (MD/CEO)
Mrs. Aniola Durosinmi-Etti
(DMD)
Dr. Bukar Usman
Mrs. Pelebo E. Banigo
Mr. Yahaya Zekeri
Dr. Silva Opuala-Charles
Chief F. A. Samson
Sir C. C. Oyeka
Chief R. Ihyembe
Chief J. D. Edozie
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7. Ag. Company Secretary:
Kehinde Ayodele
(Mrs.)
8. Auditors:
PricewaterhouseCoopers
(Chartered Accountants)
252E, Muri Okunola Street,
Victoria Island, Lagos.
9. Company Registrars:
Diamond Securities Limited
3, Elsie Femi Pearse Street,
Victoria Island, Lagos.
10. Subsidiaries/Associates:
None
11. End of Accounting Year
31st December
12. Number of Employees:
163
13.Capital Structure
i. Authorised: N4,000,000,000.00
ii. Paid-Up N2,041,856,000.00
14. Analysis of Shareholding:
Bayelsa State
Min. of Finance Inc- 22.26%
NDIC -
10.0%
Other Nigerian Citizens & Asso.
- 67.74%
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FIVE-YEAR FINANCIAL SUMMARY
2006 2005 2004 2003 2002
‘N000 ‘N000 ‘N000 ‘N000 ‘N000
BALANCE SHEET
ASSETS:
Cash and bank balances 745,897 522,243 1,840,028 1,787,330 626,684
Debtors and prepayments 1,491,762 957,572 621,950 546,608 292,996
Long-term investments 490,516 490,510 548,688 477,674 216,747
Statutory deposits 35,000 35,000 35,000 35,000 20,500
Fixed assets 451,015 450,548 308,493 151,617 55,400
--------------- --------------- -------------- ------------- --------------
3,214,190 2,455,873 3,354,157 2,998,229 1,212,327
======== ======== ======= ======= =======
LIABILITIES:
Due to reinsurers
and brokers 9,440 - 52,497 - -
Other payables 285,614 569,606 274,255 183,400 110,675
Company income taxation 21,315 16,473 88,431 - -
Outstanding claims 41,632 65,205 86,667 - -
Managed funds 178,732 572,292 645,329 704,885 410,829
Insurance funds 393,781 253,162 355,233 344,981 258,390
-------------- -------------- ------------- ------------ ------------
Total liabilities 930,514 1,476,738 1,502,412 1,233,266 779,894
-------------- -------------- ------------- ------------ ------------
CAPITAL AND RESERVES
Share capital 2,041,856 1,319,995 1,319,995 989,996 289,997
Share premium 623,482 160,164 259,001 589,000 29,000
Revaluation reserve 46,636 - - - -
Contingency reserve 230,330 207,648 172,468 109,581 68,684
General reserve (658,628) (708,672) 100,281 76,386 44,752
-------------- -------------- ------------- ------------ ------------
Shareholders’ funds 2,283,676 979,135 1,851,745 1,764,963 432m433
-------------- -------------- ------------- ------------ ------------
Total liabilities and
reserves 3,214,190 2,455,873 3,354,157 2,998,229 1,212,327
======== ======== ======= ======== =======
PROFIT AND LOSS ACCOUNT:
Premium income less
reinsurance 590,448 835,679 1,143,700 802,852 545,694
======== ======== ======== ======== =======
Underwriting results 147,014 242,947 358,576 158,845 69,309
======== ======== ======== ======== =======
Profit/(loss) before
taxation 76,361 (764,538) 369,922 240,571 148,493
Taxation (4,842) (11,241) (55,488) (36,085) (22,375)
-------------- -------------- ------------- ------------ ------------
Profit after tax 71,519 (775,779) 314,434 204,486 126,118
Transfer to contingency
reserve (21,475) (33,174) (62,817) (40,987) (25,224)
Transfer to life fund - - (15,935) (32,956) -
Dividend - - (211,199) (99,000) (57,999)
-------------- -------------- ------------- ------------ ------------
Transfer to revenue reserve 50,044 (808,953) 24,413 31,543 42,895
======== ======== ======= ======== =======
Per 50 Kobo Share Data:
Earnings per 50k share
(basic) 2k - 12k 8k 22k
Earnings per share
(adjusted) 2k - 8k 4k 10k
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