COMPANY: CORNERSTONE INSURANCE PLC

FOURTH QUARTER ENDING 31st DECEMBER 2022

EARNINGS FORECAST

PROFIT OR LOSS ACCOUNT INFORMATION & CASHFLOW

Q4 2022

Group

Company

N'000

N'000

Gross Premium Income

7,734,529

5,921,380

Net Earned Premium

3,314,292

2,640,032

Net Claims Incurred

1,354,349

1,238,598

Investment Income

756,439

517,075

Net Operating Income

2,716,382

1,918,509

Net Commission Incurred

163,887

(95,056)

Operating Expenses

1,118,396

874,079

Profit/Loss Before Tax

1,434,100

1,139,485

Forecast Taxation

(430,230)

(341,846)

Profit/Loss After Tax

1,003,870

797,640

Cash From Operating

Activities

Net Cash Generated From

107,052

80,627

Operating Activities

CashFlow From Investing

1,374,537

836,737

Activities

CashFlow From Financing

(51,259)

(36,801)

Activities

Net Increase/(Decrease) In

1,430,331

880,563

Cash & Cash Equivalents

Cash/Bank Balance at the

13,912,526

9,284,717

Beginning of the Period

Cash/Bank Balance at the End

15,342,856

10,165,279

of the Period

Kehinde Olorundare

Ganiyu Musa

Chief Finance Officer

Group Managing Director

FRC/2013/ICAN/00000000731

FRC/2013/ICAN/00000003110

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Cornerstone Insurance plc published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 10:18:52 UTC.