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1. Head Office:
Plot 1204A, Amodu
Ojikutu Street,
Off Bishop
Oluwole Street,
Victoria Island,
Lagos.
Tel: 234-01-4716243
2. Nature of Business:
General Insurance
3. Date of Incorporation:
1st March, 1961
4. Date Listed on The Exchange:
11th February, 2008
5. NSE Classification:
Insurance
6. Board of Directors:
His Royal Majesty Emeka Achebe, CFR, (Chairman)
Engr. Cyril Onyekwulu U. Ajagu (Vice-Chairman)
Mr. Okey I. Okafor (MD/CEO
Chief Abel Nwankwo
Mrs. Enase Okonedo
Alabo Adaye Harry
Evangelist Jasper Azodo
Mrs. J. Madubueze
7. Company Secretary:
Mrs. Gloria Mbanefo
1204A, Amodu
Ojikutu Street,
Off Bishop
Oluwole Street,
Victoria Island, Lagos.
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8. Auditors:
Adebayo Adesina & Co,
(Chartered Accountants)
62, Ijaiya
Road,
Ogba, Ikeja,
Lagos.
9. Company Registrars:
Afribank Registrars Limited
2A Gbagada Expressway
Anthony
Village,
Lagos.
10. Subsidiaries/Associates:
Nil
11. Number of Employees:
N.A
12. End of Accounting Year
31st December
13. Capital Structure
i.Authorised: N8,000,000,000.00
ii. Paid-Up N8,000,000,000.00
14. Analysis of Shareholding
Nigerian Citizens and Associations 100%
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FIVE-YEAR FINANCIAL SUMMARY
2007 2006 2005 2004 2003
N‘000 N‘000 N‘000 N‘000 N‘000
Statutory deposit 335,000 35,000 35,000 35,000 35,000
Quoted Investment 1,509 2,307 2,307 2,307 1,637
Other investments 2,433,893 2,075,841 1,794,286 434,100 2,628
Fixed assets 2,212,346 4,056,416 3,964,469 1,046,007 221,308
Net current assets/
(liabilities) amounts
falling due within one year 4,653,362 1,619,614 180,262 153,389 (49,845)
Amount falling due
after more than one year - - - - -
------------ ----------- ----------- ----------- -----------
9,636,110 7,789,178 5,976,324 1,669,443 194,368
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Share capital 8,000,000 3,000,000 400,000 400,000 16,000
Share premium 825,018 132,000 132,000 9,200 -
Deposit for shares - - 27,647 27,647 -
Capital reserve 103,968 3,927,518 3,927,518 958,518 258,244
Profit and loss account 505,476 337,925 27,527 9,869 (113,727)
------------ ----------- ----------- ----------- -----------
Shareholders fund 9,434,462 7,397,443 4,391,893 1,405,234 160,517
Insurance fund 132,856 358,105 65,848 6,381 23,854
Contingency reserve 68,792 33,630 13,806 11,119 9,997
Holding company - - 1,504,777 226,708 -
------------ ----------- ----------- ----------- -----------
9,636,110 7,789,178 5,976,324 4,643,633 207,801
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PROFIT AND LOSS ACCOUNT
Premium income less
reinsurance:
General 409,258 629,774 79,254 32,924 5,349
Life - 21,025 21,166 9,087 818
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Profit/(loss)
before tax 275,201 414,365 22,899 (10,181) (9,103)
Taxation (65,763) (84,143) (4,125,000) (2,100) (44)
Profit after taxation 209,438 330,222 18,774 (12,281) (9,147)
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