- Zenith General Insurance
- Zenith Life Assurance
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| FIVE YEAR FINANCIAL SUMMARY |
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2008 |
2007 |
2006 |
2005 |
2004 |
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N'000 |
N'000 |
N'000 |
N'000 |
N'000 |
| Assets |
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| Cash and short term funds |
2,831,068 |
2,330,025 |
5,487,956 |
476,410 |
175,383 |
| Short term investments |
- |
265,732 |
249,031 |
248,276 |
82,276 |
| Debtors and receivables |
2,313,229 |
718,433 |
346,828 |
20,002 |
20002 |
| Long term investments |
861,221 |
1,901,213 |
292,802 |
100,000 |
- |
| Investment In subsidiaries |
1,950,000 |
1,950,000 |
- |
- |
- |
| Investment property |
432,850 |
393,500 |
- |
- |
- |
| Statutory deposit with Central Bank of Nigeria |
300,002 |
300,002 |
20,002 |
- |
- |
| Fixed assets |
471,254 |
411,802 |
337,403 |
371,086 |
319,237 |
| Deffered tax asset |
345,773 |
90,023 |
- |
- |
- |
| Total assets |
9,505,397 |
8,360,730 |
6,734,022 |
1,215,774 |
596,898 |
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| Liabilities |
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| Due to reinsurers and brokers |
408,384 |
364,125 |
212,008 |
117,117 |
39,436 |
| Company income tax |
872,213 |
354,497 |
90,449 |
37,071 |
4,183 |
| Outstanding claims |
247,170 |
114,244 |
29,627 |
22,661 |
- |
| Deffered income tax |
- |
- |
4,170 |
100,000 |
- |
| Unexpired risk reserve |
857,220 |
579,232 |
432,999 |
231,949 |
42,375 |
| Deposit for shares |
6,899 |
6,899 |
6,899 |
6,899 |
6,899 |
| Total liabilities |
2,391,885 |
1,418,997 |
776,153 |
515,697 |
92,893 |
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| Capital and reserves |
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| Share capital |
1,450,000 |
1,450,000 |
1,450,000 |
600,000 |
500,000 |
| Share premium |
4,138,423 |
4,138,423 |
4,138,423 |
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| Contingency reserve |
362,172 |
194,973 |
61,278 |
22,745 |
3,531 |
| Retained earnings |
1,162,916 |
756,086 |
221,306 |
77,332 |
474 |
| Revaluation reserve |
- |
402,251 |
86,863 |
- |
- |
| Shareholders' funds |
7,113,512 |
6,941,733 |
5,957,869 |
700,077 |
504,005 |
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| Total Liabilities and reserves |
9,505,397 |
8,360,730 |
6,734,022 |
1,215,774 |
596,898 |
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| FINANCIAL STATEMENT SUMMARY |
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2008 |
2007 |
2006 |
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N'000 |
N'000 |
N'000 |
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| Assets |
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| Cash and short term funds |
1,182,713 |
1,669,947 |
- |
| Short term investments |
- |
30,044 |
2,517 |
| Premium receivable |
351,298 |
4,216 |
1,104 |
| Other receivables |
154,293 |
129,042 |
87,383 |
| Long term investments |
606,694 |
316,869 |
84,500 |
| Statutory deposit |
200,000 |
200,000 |
15,000 |
| Property, plant and equipment |
11,854 |
1,927 |
- |
| Deferred tax assets |
120,796 |
- |
- |
| Total assets |
2,627,648 |
2,352,044 |
190,504 |
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| Liabilities |
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| Trade and other payables |
70,732 |
23,335 |
7,595 |
| Outstanding claims |
114,778 |
8,350 |
- |
| Life insurance fund |
128,652 |
28,233 |
6,452 |
| Deposit administration fund |
44,563 |
28,961 |
22,512 |
| Income tax payable |
23,342 |
8,049 |
1,614 |
| Deferred tax liability |
- |
104 |
- |
| Total liabilities |
382,067 |
97,032 |
38,173 |
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| Capital and reserves |
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| Share capital |
2,000,000 |
2,000,000 |
150,000 |
| Contingency Reserve |
22,471 |
6,613 |
395 |
| General reserve |
29,670 |
29,670 |
2,465 |
| Retained earnings |
193,440 |
16,360 |
(529) |
| Revaluation reserve |
- |
202,369 |
- |
| Shareholders' funds |
2,245,581 |
2,255,012 |
152,331 |
| Total liabilities and reserves |
2,627,648 |
2,352,044 |
190,504 |
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| PROFIT AND LOSS ACCOUNTS |
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2008 |
2007 |
2006 |
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N'000 |
N'000 |
N'000 |
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| Gross written premium |
1,585,757 |
146,000 |
9,859 |
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| Profit before taxation |
87,331 |
62,178 |
3,945 |
| Taxation |
105,607 |
(11,866) |
(1,614) |
| Profit after taxation |
192,938 |
50,312 |
2,331 |
| Transfer to general reserve |
- |
(27,205) |
(2,465) |
| Transfer to contingency reserve |
(15,858) |
(6,218) |
(395) |
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(529) |
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177,080 |
16,889 |
(529) |
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| Earnings per share (adjusted) |
9k |
1 k |
- |
| Earnings per share (basic) |
9k |
1 k |
- |
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