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

SECURITY ASSURANCE PLC

1. Head Office: 15, Jibowu Street, Yaba, Lagos. P. O. Box 578, Surulere, Lagos. Tel: 234-01-4704212, 8154884, 8114133, 8114135 E-mail: security@infoweb.abs.net. 2. Nature of Business: General Insurance Business 3. Date of Incorporation: March, 1981 4. Date Listed on The Exchange: 24th November, 1999 5. NSE Classification: Insurance 6. Board of Directors: Mr. E. I. Ijewere FCA, FCTI (Chairman) Chief P. B. Djebah, JP Monsignor A. A. Olawumi Chief C. K. Uganden MA Obong T. J. Ntekop, ACIB Mr. Y. A. Alao (MD/CEO) 7. Company Secretary: R. O. Ganiyu

8. Auditors: Messrs Anthony Ononye & Co., (Chartered Accountants) 2, Iya-Agan Lane, Ebute-Metta (West) Lagos. 9. Company Registrars: A. G. Leventis (Nigeria ) Plc. Iddo House, P. O. Box 159, Lagos. 10. End of Accounting Year 31st December 11. Number of Employees 50 12.Capital Structure i. Authorised: N90,000,000.00 ii. Paid-Up N90,000,000.00

FIVE-YEAR FINANCIAL SUMMARY CAPITAL EMPLOYED 2002 2001 2000 1999 1998 N’000 N’000 N’000 N’000 N’000 Fixed assets 48,399 35,860 26,437 9,270 5,894 Statutory Deposits 3,000 3,000 3,000 3,000 2,500 Investments 11,455 21,450 21,796 43,696 37,336 Current assets 110,551 99,157 66,028 43,513 23,476 ----------- ----------- ----------- ----------- ---------- Total Assets 173,405 159,467 117,261 99,479 69,206 ------------ ------------ ------------ ----------- ----------- Creditors 26,969 25,563 13,302 18,605 11,442 Outstanding claims 10,253 3,458 2,324 1,968 1,834 Insurance funds 23,997 22,445 15,327 14,454 13,151 ------------ ------------ ------------ ----------- ----------- Total liabilities 61,219 51,466 30,954 35,027 26,428 ------------ ------------ ------------ ----------- ----------- Net Assets 112,186 108,001 86,307 64,452 42,778 ====== ====== ====== ====== ====== FINANCED BY: Share capital 90,000 88,733 63,539 56,452 37,686 Retained Profit 1,415 683 161 870 774 Reserve for Bonus shares - - 10,590 - - Share Premium 3,621 3,114 1,358 64 - Contingency reserve 17,150 15,471 10,659 7,066 4,318 ------------ ------------ ------------ ----------- ----------- Shareholders’ fund 112,186 108,001 86,307 64,452 42,778 ====== ====== ====== ====== ====== NET PREMIUM: 55,979 52,122 37,163 33,064 29,727 ====== ====== ====== ====== ====== Underwriting profit 11,227 19,292 14,656 11,518 8,109 Investment and other income 1,211 9,210 6,552 4,217 3,828 ---------- ---------- ---------- ---------- ---------- 12,438 28,502 21,208 15,735 11,935 Deduct: Other expenses (8,027) (4,447) (3,242) (1,996) (3,928) ----------- ----------- ----------- ----------- ----------- Profit before tax 4,411 24,055 17,966 13,739 8,007 Provision for tax (2,000) (6,300) (4,492) (4,122) (2,330) ---------- ---------- ---------- ---------- ---------- Profit after tax 2,411 17,755 13,474 9,617 5,677 Retained profit brought forward 683 162 870 775 467 Transfer contingency reserves (1,679) (4,811) (3,593) (2,748) (1,601) ---------- ---------- ---------- ---------- ---------- Profit available for appropriation 1,415 13,106 10,751 7,644 4,543 Proposed dividend - (12,423) - (6,774) (3,769) Reserve for bonus issue - - (10,590) - - ---------- ---------- ---------- ---------- ---------- Retained profit carried forward 1,415 683 161 870 774 === === === === === Dividend per 50k share - 7k - 6k 5k === === === === === Earnings per 50k share - 9.8k 10.6k 8.5k 7.5k === === === === ===

Important Note:

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

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