Coronation Insurance PlcNSENG: WAPIC

Year end - financial statement for 2025

Jan 30, 2026 at 4:28 PM UTC · Issued by Coronation Insurance Plc

I, OLAMIDE OLAJOLO

do hereby certify that:

CERTIFICATION

of Coronation Insurance Plc g'the Company"), 119 Awolowo Road, Ikoyi, Lagos State, Nigeria

I have reviewed the attached Q4, 2025 Management Accounts of Coronation Insurance Plc.

2. I confirm that based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

I also confirm that based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report.

I further confirm that the Company's other certifying officer(s) and I:

Are responsible for establishing and maintaining internal controls.
Have designed such internal controls and procedures or caused such internal controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, and its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared.
Have designed such internal control system or caused such internal control system to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
Have evaluated the effectiveness of the company's internal controls and procedures as of a date within 90 days prior to the report and presented in this report our conclusions about the effectiveness of the internal controls and procedures, as of the end of the period covered by this report based on such evaluation.

I confirm that the Company's other certifying officer(s) and I have disclosed, based on our most recent evaluation of the internal control system, to the Company's auditors and the Board Audit & Compliance Committee:

All significant deficiencies and material weaknesses in the design or operation of the internal control system which are reasonably likely to adversely affect the company's ability to record, process, summarize and report financial information; and
Any fraud, whether or not material, that involves Management or other employees who have a significant role in the Company's internal control system.

I also confirm that the Company's other certifying officer(s) and I have identified, in the report whether or not there were significant changes in internal controls or other facts that could significantly affect internal controls subsequent to the date of their evaluation including any corrective actions with regard to significant deficiencies and material weaknesses.

Name: OLAMIDE OLA3OLO DesignaNon: MANAGlNG IRECTOR
FRC No: FRC/2013 PRO CIIN 002/00000000877 Signature Date: 30'h Janua 2026

CERTIFICATION
I, OJUMORO JOSHUA of Coronation Insurance Plc ("the Company"), 119 Awolowo Road, Ikoyi, Lagos State, Nigeria do hereby certify that:
I have reviewed the attached Q4, 2025 Management Accounts of Coronation Insurance Plc.
I confirm that based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.
I also confirm that based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report.
I further confirm that the Company's other certifying officer(s) and I:
1. Are responsible for establishing and maintaining internal controls.
2. Have designed such internal controls and procedures or caused such internal controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, and its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared.
3. Have designed such internal control system or caused such internal control system to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
4. Have evaluated the effectiveness of the company's internal controls and procedures as of a date within 90 days prior to the report and presented in this report our conclusions about the effectiveness of the internal controls and procedures, as of the end of the period covered by this report based on such evaluation.
I confirm that the Company's other certifying officer(s) and I have disclosed, based on our most recent evaluation of the internal control system, to the Company's auditors and the Board Audit & Compliance Committee:
1. All significant deficiencies and material weaknesses in the design or operation of the internal control system which are reasonably likely to adversely affect the company's ability to record, process, summarize and report financial information; and
2. Any fraud, whether or not material, that involves Management or other employees who have a significant role in the Company's internal control system.
I also confirm that the Company's other certifying officer(s) and I have identified, in the report whether or not there were significant changes in internal controls or other facts that could significantly affect internal controls subsequent to the date of their evaluation including any corrective actions with regard to significant deficiencies and material weaknesses.

Name: OJUMORO JOSHUA Designation: CFO (CHIEF FINANCIAL OFFICER)

FRC No: FRC/2021/PRO/ICAN/001/00000024766 Signature: Date: 30th January, 2026

Coronation Insurance Plc Q4 Unaudited Accounts for the Period Ended 31 Dec 2025

Shareholding Structure/Free Float Status
Description	31-Dec-25		30-Sep-25
Description	Unit	Percentage	Unit	Percentage
Issued Share Capital	23,991,679,506	100.00	23,991,679,506	100.00
Substantial Shareholdings (5% and above)
CORONATION CAPITAL, (MAURITIUS) LTD	9,794,561,952	40.82	9,794,561,952	40.82
REUNION ENERGY, LIMITED - MAIN	5,011,809,066	20.89	5,011,809,066	20.89
CORONATION ASSET, MANAGEMENT	1,242,456,657	5.18	1,242,456,657	5.18
Total Substantial Shareholdings	16,048,827,675	66.89	16,048,827,675	66.89
Directors' Shareholdings (direct and indirect), excluding directors with substantial interests
MR. VICTOR ETUOKWU, MON	8,066,088	0.03	8,066,088	0.03
MR. OGBONNEWO SEGUN, (LIEN-ARPS)	3,360,567	0.01	3,360,567	0.01
MR. OLAJOLO OLAMIDE	32,272	-	32,272	-
MRS. OSUNTOKI TITILAYO	56,092	-	56,092	-
MRS. STELLA OJEKWE-ONYEJELI	11,358	-	11,358	-
MR. MUTIU SUNMONU	0		0	-
MRS. IBIJOKE ADENUGA	0		0	-
MR. AUGUSTINE ALEGEH	0		0	-
MR. ADEWALE ADENEYE	0		0	-
Total Directors' Shareholdings	11,526,377	0.05	11,526,377	0.05
Other Influential Shareholdings
NIL	0		0
Total Other Influential Shareholdings	0		0

TOTAL	16,060,354,052	66.94	16,060,354,052	66.94

Free Float in Units and Percentage	7,931,325,454	33.06	7,931,325,454	33.06
Free Float in Value @3.25k	25,776,807,725.50 â‚¦ 24,031,916,125.62

Declaration:
is compliant with The Exchange's free float requirements for companies listed on the Main Board.
December 2025, is compliant with The Exchange's free float requirements for companies listed on the

Analysis of shareholders

The shareholding pattern of the Company as at 31st December 2025 is as stated below:

Range	Number of Shareholders	No. of shares held	% of number of shareholder s	% of number of shares
1 - 1,000	651,181	127,929,478	79.38	0.53
1,001 - 5,000	123,488	264,319,384	15.01	1.10
5,001 - 10,000	21,237	153,981,427	2.57	0.64
10,001 - 50,000	19,807	405,873,419	2.39	1.67
50,001 - 100,000	2,550	176,136,793	0.30	0.72
100,001 - 500,000	2,145	433,164,178	0.26	1.77
500,001 - 1,000,000	322	232,219,771	0.04	0.95
1,000,001 - 5,000,000	326	631,337,817	0.04	2.54
5,000,001 - 10,000,000	49	340,399,428	0.01	1.54
10,000,001 - 50,000,000	41	825,023,995	0.00	3.47
50,000,001 - 100,000,000	10	771,039,371	0.00	2.28
100,000,001 - 500,000,000	7	1,188,668,158	0.00	5.89
500,000,001 - 1,000,000,000	2	1,373,723,049	0.00	5.76
1,000,000,001 - 5,000,000,000	2	2,261,492,220	0.00	9.43
5,000,000,001 & Above	2	14,806,371,018	0.00	61.71
	821,169	23,991,679,506	100.00	100.00

Coronation Insurance Plc

Statement of Financial Position as at 31st December 2025

		CORONATION GROUP		CORONATION INSURANCE
		31-Dec-25	31-Dec-24	31-Dec-25	31-Dec-24
ASSETS	NOTE	N'000	N'000	N'000	N'000
Cash and cash equivalent	8	17,535,737	14,885,569	8,644,540	7,812,285
Financial assets	9	42,221,647	29,444,960	7,411,206	9,851,536
Premium receivables	10	1,706,789	27,334	1,569,783	17,774
Reinsurance contract assets	11	9,162,576	5,916,984	5,816,320	3,742,451
Other receivables and prepayments	12a	3,728,386	1,500,128	3,425,469	1,106,144
Right of Use Asset		704,269	972,110	-
Investment in associates	13	17,556,394	13,647,583	7,430,242	7,718,903
Investment in subsidiaries	14	-	-	9,259,506	9,259,506
Investment properties	15	408,493	8,493	208,493	8,493
Deferred tax asset	a	29,416	29,416	-	-
Property, plant and equipments	16a	6,605,863	6,590,526	5,618,573	5,721,944
Intangible assets	17	2,651,660	2,823,130	852,918	989,263
Statutory deposit	18	500,000	951,423	300,000	300,000
TOTAL ASSETS		102,811,231	76,797,656	50,537,050	46,528,301
LIABILITIES
Other payables and Provisions	19	5,450,995	8,312,650	2,133,767	6,877,149
Current Income tax liabilities	20	2,500,512	1,125,556	1,437,173	872,267
Insurance contract liabilities	21	36,866,673	22,443,627	15,913,741	11,338,575
Reinsurance contract liabilities		-	4,233	-	-
Deferred tax liabilities	22	837,580	837,580	837,580	837,580
Investment contract liabilities		9,168,130	4,314,872	-	-
TOTAL LIABILITIES		54,823,891	37,038,518	20,322,262	19,925,571
EQUITY
Share capital	23	11,995,952	11,995,952	11,995,952	11,995,952
Share premium	24	4,612,938	4,612,938	4,612,938	4,612,938
Other reserves	25	9,388,811	8,276,842	4,647,719	4,987,555
Contingency reserves	26	6,042,853	5,076,388	6,497,639	5,073,345
Retained earnings	27	15,946,786	9,797,018	2,460,542	(67,059)
TOTAL EQUITY		47,987,340	39,759,138	30,214,789	26,602,730
TOTAL LIABILITIES AND EQUITY		102,811,231	76,797,656	50,537,050	46,528,301

Mutiu Sunmonu FRC/2014/IODN/00000006187

Chairman

Olamide Olajolo FRC/2013/CIIN/0000000877

Joshua Ojumoro FRC/2021/PRO/ICAN/001/00000024766

Chief Financial Officer

The material accounting policies and the accompanying notes form an integral part of these consolidated and separate financial statements.

Coronation Insurance Plc
Profit or loss and Other Comprehensive Income for the period ended 31st December 2025
		CORONATION GROUP		CORONATION INSURANCE

		31-Dec-25	31-Dec-24	31-Dec-25	31-Dec-24
	Note	N'000	N'000	N'000	N'000
Insurance revenue	1	71,127,102	49,473,986	47,476,453	35,905,065
Insurance service expenses	2	(44,997,744)	(27,196,020)	(30,907,916)	(18,671,609)
Insurance service result before reinsurance contracts held		26,129,358	22,277,966	16,568,538	17,233,456

Net income (expenses) from reinsurance contracts held	3	(15,215,095)	(16,790,848)	(10,058,742)	(14,819,205)

Insurance service result		10,914,262	5,487,118	6,509,796	2,414,251

Investment income	4a	6,390,999	2,555,241	1,303,222	916,866
Net realized gain on financial assets		-		-	-
Net FV Gain/Loss on Financial Asset HFT@FVTPL	5	1,295,878	313,865	173,201	-
Net credit impairment losses		-	(1,157,449)	-	(22,871)
					934
Other operating income	5	(1,051,082)	9,577,962	779,415	3,757,177
Total investment and other income		6,635,795	11,289,620	2,255,838	4,652,106

Net finance expenses from insurance contracts issued	6a	(3,621,620)	127,537	(1,424,431)	(33,515)
Net finance income from reinsurance contracts held	6b	1,376,964	(221,374)	711,373	(155,597)
Net insurance finance expenses		(2,244,655)	(93,837)	(713,057)	(189,112)

Net Insurance and Investment Result		15,305,402	16,682,902	8,052,576	6,877,245

Impairment on financial assets (ECL)		(205,180)
Other operating expenses (Non attributable)	7c	(5,993,248)	(5,912,991)	(2,786,205)	(646,600)
Total operating expenses		(6,198,427)	(5,912,991)	(2,786,205)	(646,600)

Operating profit		9,106,975	10,769,911	5,266,372	6,230,646
Share of profit from associate	4c	557,673	3,041,351

Profit Before Tax		9,664,647	13,811,261	5,266,372	6,230,646

Income tax		(2,548,414)	(1,900,415)	(1,314,478)	(1,517,763)
Profit after tax		7,116,233	11,910,846	3,951,894	4,712,883

Coronation Insurance Plc

Statement of Changes in Equity for the Period ended 31 December 2025

(All amounts in Naira thousands unless otherwise stated)

Company

	Share capital	Share premium	Other reserves	Statutory contingency reserve	Retained earnings	Total
As at 1 January 2025	11,995,952	4,612,938	4,987,554	5,073,345	(67,059)	26,602,730
Profit for the period					3,951,894	3,951,894
Other comprehensive income			(339,836)			(339,836)
Total comprehensive income	-	-	(339,836)	-	3,951,894	3,612,058
	11,995,952	4,612,938	4,647,718	5,073,345	3,884,835	30,214,788

Transfer contingency reserve				1,424,294	(1,424,294)	-
As at period end	11,995,952	4,612,938	4,647,718	6,497,639	2,460,542	30,214,788

Group

	Share capital	Share premium	Other reserves	Statutory contingency reserve	Retained earnings	Total

As at 1 January 2025	11,995,952	4,612,938	8,276,842	5,076,388	9,797,018	39,759,138
						-
Profit for the period					7,116,233	7,116,233
Other comprehensive income						-
Revaluation reserve on property			1,111,969			1,111,969
Transfer contingency reserve				966,465	(966,465)
Total comprehensive income	-	-	1,111,969	966,465	6,149,768	8,228,202
	11,995,952	4,612,938	9,388,811	6,042,853	15,946,786	47,987,340

As at period end	11,995,952	4,612,938	9,388,811	6,042,853	15,946,786	47,987,340

Coronation Insurance Plc
Statement of Cash Flows	GROUP		COMPANY
	2025	2024	2025	2024
	31-Dec-25	31-Dec-24	31-Dec-25	31-Dec-24
	N'000	N'000	N'000	N'000
Cash flows from operating activities
Premiums received	69,447,647	54,109,236	50,022,001	36,620,274
Fees and commission received	10,717,331	5,209,715	10,717,331	4,633,702
Fees and commission paid	(20,911,327)	(8,698,803)	(17,742,419)	(6,339,668)
Reinsurance premiums paid	(30,643,569)	(23,453,607)	(22,638,569)	(21,371,329)
Gross claims paid to policy holders	(17,704,071)	(6,976,934)	(13,983,171)	(4,806,480)
Reinsurance recoveries on claims	11,019,392	1,030,032	8,663,854	1,030,033
Payments to employees	(4,252,152)	(2,356,711)	(1,613,681)	(76,858)
Other operating cash receipt/payment	(10,350,750)	8,476,023	(7,763,082)	436,402
Other operating cashflow	29,739	5,901,335	24,018	4,171,168
Tax paid	(2,563,543)	(1,309,178)	(1,365,278)	(148,852)
Net cashflow from operations	4,788,697	21,289,019	4,321,004	7,713,940

Cash flows from investing activities
Purchases of property and equipment	(770,169)	(970,169)	(370,301)	(720,001)
Purchases of intangible assets	(848,827)	(1,448,827)	(291,717)	(737,202)
ROU addition	-	(1,159,538)	-	-
Purchases of investment securities	(21,931,958)	(16,903,579)	(20,911,956)	(4,295,742)
Proceeds from redemption of investment securities	17,650,549	3,368,475	16,650,548.66	1,266,021
Improvement to investment properties	-	-	-	-
Proceeds from sale of investment properties	-	-	-	87,505.00
Rental income received			-
Dividend income received	33,373	33,373	80,654
Interest income received	3,521,364	2,521,364	1,303,222	33,373
Proceed from sale of property	87,505	87,505		882,988
Net cash (used in) / from investing activities	(2,258,165)	(14,471,398)	(3,539,549)	(3,483,057)

Cash flows from financing activities
Proceeds from issue of shares	-	-	-	-
Dividend paid	-	-	-	-

Net cash from financing activities	-	-	-	-

Changes in cash and cash equivalents	2,530,532	6,817,621	781,455	4,230,882

Cash and cash equivalent at beginning of year	15,005,204	8,187,583	7,863,085	3,632,203
Net increase/(decrease) in cash and cash equivalent	2,530,532	6,817,621	781,455	4,230,882

Cash and cash equivalent at end of year	17,535,736	15,005,204	8,644,540	7,863,085


Summary of Cash and cash equivalents
For the purposes of the statement of cash flow, cash and cash equivalents is as follows:
	Group	Group	Company	Company
	2025	2024	2025	2024
	31-Dec-25	31-Dec-24	31-Dec-25	31-Dec-24
	N'000	N'000	N'000	N'000
Cash and cash equivalent	5,460,593	3,738,525	1,774,277	755,687
Money market placements	12,075,144	11,266,680	6,870,263	7,107,399
Balance, end of year	17,535,737	15,005,204	8,644,540	7,863,085
The statement of significant accounting policies and the accompanying notes form an integral part of these financial statements.

Coronation Insurance Plc

Notes to the Accounts as at 31st December 2025

GROUP

COMPANY

31-Dec-25	31-Dec-24	31-Dec-25	31-Dec-24
N'000	N'000	N'000	N'000

1	Insurance Revenue
	Insurance revenue from contracts measured under the PAA

71,127,102 49,473,986 47,476,453 35,905,065

71,127,102

49,473,986

47,476,453

35,905,065

2	Insurance Service Expenses
	Incurred claims and other directly attributable expenses	37,764,721	24,267,390	27,794,525	16,985,396
	Changes that relate to past service - adjustments to the LIC	(7,137,193)	(6,043,024)	(6,612,365)	(4,791,084)
	Losses on onerous contracts and reversal of the losses	(332,307)	272,850	(294,168)	187,591
	Insurance acquisition cash flows amortisation	14,702,524	8,698,803	10,019,924	6,289,706
		44,997,745	27,196,020	30,907,916	18,671,609

3	Reinsurance Contracts Held
	Reinsurance income (expenses) - contracts measured under the	(24,084,327)	(19,544,521)	(17,958,541)	(16,780,963)
	Claims recovered	5,412,987	(370,799)	4,598,333	3,379,401
	Movement in Loss Recovery Component adjustment to Reinsur	(131,329)	275,570	(133,183)	262,974
	Changes that relate to past service - adjustments to incurred cla	3,587,572	2,848,902	3,434,648	(1,680,618)
		(15,215,095)	(16,790,848)	(10,058,742)	(14,819,205)

4a	Investment income
	Investment income	3,362,455	1,518,068	1,150,392	818,682
	Interest on statutory deposit	120,302	109,875	72,177	64,811
	Dividend income from equity investment	2,908,242	927,298	80,654	33,373
		6,390,999	2,555,241	1,303,222	916,866
	Net realised (loss)/gain on financial assets			-
		6,390,999	2,555,241	1,303,222	916,866

4b	Share of Profit of Associate
	Coronation Merchant Bank	527,318	2,953,493	-	-
	Coronation Securities Ltd	30,354	87,858	-	-

557,673

3,041,351

4c	Share of Other Comprehensive income of Associate
	Coronation Merchant Bank	152,172.02	(181,817)	-	-
	Coronation Securities Ltd	30,523.50	63,888	-	-

152,172

(181,817)

5	Other Operating Income
	Rental Income from property Investment	28,477	21,358	28,477	436,393
	Foreign exchange gain/(loss)	1,295,878	8,002,409	173,201	3,320,775
	Other income	26,155	473,615	41	9
	Sundry income	(1,077,237)	1,101,745	750,896	-
		244,796	9,599,127	952,616	3,757,177

6	Finance income (expenses) from insurance contracts issued
6a	Interest accreted	(5,686,221)	(619,275)	(1,780,133)	(222,813)
6b	Effect of changes in interest rates and other financial assumptio	2,064,601	746,811	355,702	189,298
	Finance income (expenses) from insurance contracts issue	(3,621,620)	127,536	(1,424,431)	(33,515)

Finance income (expenses) from reinsurance contracts hel	d
Interest accreted	1,554,885	(218,704)	883,653	(81,047)
Effect of changes in interest rates and other financial assumptio	(177,921)	(2,670)	(172,279)	(74,550)
Finance income (expenses) from reinsurance contracts held	1,376,963	(221,374)	711,373	(155,597)

Net insurance finance income (expenses)

(2,244,656)

(93,838)

(713,057)

(189,112)

Coronation Insurance Plc

Notes to the Accounts as at 31st December 2025

		GROUP		COMPANY
		31-Dec-25	31-Dec-24	31-Dec-25	31-Dec-24
		N'000	N'000	N'000	N'000
7
a	Operating Expenses
	Other staff related expenses	1,742,794	1,259,922	871,684	377,361
	Professional Fees	2,107,413	1,308,415	1,511,847	909,993
	Donations & Sponsorship	110,798	187,428	131,604	42,758
	Corporate Branding	437,536	261,295	159,719	389,903
	Insurance	1,206,847	124,964	73,669	43,237
	Bank charges	62,812	211,968	86,896	92,855
	Depreciation	675,957	56,291	473,671	381,490
	Amortization of Intangible assets	286,247	93,621	193,046	108,770
	Repairs & Maintenance	1,274,568	110,399	509,592	242,724
	Registrar Maint Expenses	145,451	415,874	62,923	61,333
	Board Expenses	487,897	708,791	641,298	326,612
	Transport and travels expenses	176,699	356,780	102,783	53,758
	Annual dues	566,275	309,625	323,534	71,435
	Other Expenses (Newspaper, business marketing,Sub,AGM	654,898	62,756	792,731	217,481
	Audit expenses	188,625	24,845	90,903	93,382
	Telephone/Rent and rates	201,641	144,965	66,328	76,340
	Electricity and water	61,753	64,743	33,462	-
	Priniting and stationery	64,467	576,875	21,871	16,853
	Investment related expenses	317,254	101905.90	312,053	-
	Annual maintenance cost	1,335,671	1,552,017	2,380,490	1,079,977
	Impairment on Other assets	297,303	218,505	148,078	-
	Impairment on Reinsurance asset charge/(reversal)		-	-	-
		12,411,706	8,151,986	8,848,905	4,586,263

7b	Employee Benefit Expense
	Staff Cost	3,073,971	2,325,342	1,428,934	1,243,004
	Directors Emoluments	339,256	161,295	184,747	39,295
		3,413,227	2,486,637	1,613,681	1,282,299

7c	Attributable Expenses	9,831,686	4,564,337	7,676,381	5,221,962
	Non Attributable Expenses	5,993,248	5,912,991	2,786,205	646,600
		15,824,933	10,477,328	10,462,586	5,868,562
8	Cash and Cash equivalents
	Cash at hand	1,185,723	-	-
	Cash and call Balance with local banks	4,274,870	3,738,525	1,774,277	7,700,556
	Money Market Placement	12,125,943	11,266,680	6,921,062	162,529
	Impairment (ECL)	(50,800)	(119,636)	(50,800)	(50,800)
		17,535,737	14,885,569	8,644,540	7,812,285

9	Financial Assets
	Held to Maturity (HTM)/ Amortised cost (Note 10a)	7,174,433	14,928,731	386,096	73,142
	Held for Trading ( HFT) (Note 10b)	1,945,407	-	-	-
	Available for Sale ( AFS) / FVOCI (Note 10c)	33,114,347	17,886,367	7,030,870	9,778,394
		42,234,188	32,815,098	7,416,966	9,851,536
	Impairment (ECL)	(12,540)	(3,370,138)	(5,760)	-
		42,221,647	29,444,960	7,411,206	9,851,536

a	Analysis of HTM Securities
	- Corporate Bonds	386,096	617,349	386,096	73,142
	- Fixed Deposits with Banks	4,049,236	2,243,119	-	-
	- Government Bonds - State	-	-	-	-
	- Government Bonds - Federal	2,739,102	9,931,557	-	-
	Carrying amount at amortised cost	7,174,433	12,792,025	386,096	73,142

b	Analysis of HFT Securities
	- Fair value adjustment	1,945,407	231,363	-	-
	Carrying amount at fair value	1,945,407	231,363	-	-

c	Analysis of AFS Securities
	Unquoted/ Unlisted Equities	3,177,427	2,942,830	2,554,766	2,554,766
	Quoted Equities	100	56	100	58
	- Government bond	16,903,668	3,588,864	795,232	-
	- Government eurobond	1,345,909	1,015,005	966,736	4,657,409
	- Corporate eurobond	2,319,896	4,392,851	80,118	826,990
	- Treasury bills	8,673,590	3,279,068	2,633,919	1,739,171
	Carrying amount at FV	32,898,107	15,993,099	7,030,870	9,778,394

10	Trade Receivables
	Due from Brokers	1,722,123	31,616	1,569,783	21,757
	Less: Impairment on Trade Receivables	(15,334)	(4,282)	-	(3,984)
	Reclassification to other payables
		1,706,789	27,334	1,569,783	17,774

11	Reinsurance contract Assets
	Asset for Remaining Coverage:
	-Excluding loss component	4,686,399	2,777,692	2,626,908	510,302
	-Loss component			129,791	262,974
	Asset for Incurred Claims
	- Present Value of future cashflows	3,975,480	2,612,818	2,721,837	2,674,105
	- Risk Adjustment	372,848		337,783	295,070
	Total reinsurance contract Asset	9,162,576	5,390,510	5,816,320	3,742,451

Reinsurance contract Assets	Asset for Remaining Coverage:		Asset for Incurred Claims
Portfolios	Excluding loss component	Loss component	Present Value of future cashflows	Risk Adjustment
AVIATION	-	-	-	-
BOND	-	-	-	-
ENGINEERING	(872,870)	(9)	(224,234.17)	(28,738)
FIRE	(564,482)	-	(742,677.35)	(81,663)
GENERAL_ACCIDENT	(265,616)	-	(159,481.80)	(12,694)
MARINE	(535,264)	-	(1,405,013.13)	(197,921)
MOTOR	(94,654)	-	(52,690.63)	(2,994)
OIL_AND_ENERGY	(294,023)	(129,782)	(137,740.36)	(13,774)
	(2,626,908)	(129,791)	(2,721,837)	(337,783)

12a	Other Receivables and Prepayments
	Due from Related Parties
	Intercompany receivables(Ghana/Life)	-	-	91,771	200,102
	Other Debtors	1,329,987	1,444,077	1,299,469	1,337,452
	Loan & Receivable	483,820	361,070	-	-
	Deposit for Shares	145,804	145,804	145,804
	Staff Debtors	170,708	(2,126)	-
	Property Held for Sale		-	-	-
	Prepaid expenses	623,019	1,600,213	584,787	997,460
	Other receivables - Related: Dividend Rec Subs	40,879	40,879	40,879
	Receivables	2,757,167	-	2,691,329	-
		5,551,385	3,589,917	4,854,039	2,535,014
	Impairment Allowance	(1,822,999)	(1,851,236)	(1,428,570)	(1,428,870)
		3,728,386	1,738,680	3,425,469	1,106,144

12b	Right of Use Asset
	Right of use asset-Leasehold- 35yrs	657,900	102,681	-	-
	Accumulated depreciation of right of use asset		-	-	-
		657,900	102,681

13	Investment in associates
	Coronation Merchant Bank Limited/Coronation Securities Limited/Ghana
	- Opening balance	13,647,583	10,724,161	5,804,242	7,718,903
	- Additions/(disposals)	5,083,104		1,626,000	-
	Shares trade off in CMB	(1,914,661)
	- Interim audit adjustment:		114,942	-	-
	Share of profit during the year	557,673	2,437,201	-	-
	Share of other comprehensive income during the year	182,696	(34,772)
		17,556,394	13,241,532	7,430,242	7,718,903

14	Investment in subsidiaries
	Coronation Insurance Ghana Limited	-	1,460,915	1,460,915	1,460,915
	Coronation Life Assurance Limited	-	7,798,591	7,798,591	7,798,591
		-	9,259,506	9,259,506	9,259,506

15	Investment Properties
	Investment Property (Note 16a)	408,493	94,559	208,493	8,493
		408,493	94,559	208,493	8,493

a	Investment Properties
	- Ocean Garden Lekki Epe	8,493	89,000	8,493	8,493
	- Magboro Estate		5,559
	-IPL BUILDING- ABUJA	400,000		200,000
		408,493	94,559	8,493	8,493

16a	Property, Plant & Equipment
	Cost	11,555,631	8,441,614	9,078,311	8,708,010
	Accumulated Depreciation	(4,949,768)	(4,135,906)	(3,459,738)	(2,986,067)
	Net Book Value	6,605,863	4,305,707	5,618,573	5,721,943

17	Intangible Assets
	Cost	4,301,316	3,509,418	2,028,813	1,972,112
	Accumulated Depreciation	(1,649,656)	(1,170,490)	(1,175,895)	982,848
	Net Book Value	2,651,660	4,679,908	852,918	989,263

18	Statutory deposit
	At start of period	500,000	1,134,999	300,000	300,000
	Additions during the period		231,739	-	-
	At end of period	500,000	300,000	300,000	300,000

19	Provisions & Other Payables
	Premium Deposit	-	-	11,100	4,171,168
	Reinsurance Commission Received in advance	13,212		-	-
	Accrued expenses	2,792,830	5,304,304	675,689	981,527
	Other tax payables	138,093	193,514	132,253	185,519
	Policy deposits and unclaimed bank items	191		-	-
	Staff loan deduction	130,977		-	-
	Inter-Company Balances	168,447		-	21,239
	NSITF	100,138		-	-
	Sundry Creditors	1,511,242	648,555	517,361	1,517,697
	Other Liabilities	595,866	1,409,406	797,364	-
	Right of Use Liability	-	756,871		-
		5,450,995	8,312,650	2,133,767	6,877,149

20	Current Income Tax liabilities
	At start of period	208,981	234,073	163,822	163,822
	Charge for the period	33,028	(1,883,764)	(1,314,478)	857,297
	Payments during the period	2,258,503	3,671,010	2,587,829	(148,852)
	At end of period	2,500,512	2,021,319	1,437,173	872,267

21	Insurance Contract Liabilities
	Liability for Remaining Coverage:
	-Excluding loss component	24,333,626	14,480,511	9,219,262	5,152,874
	-Loss component	2,152,507	658,021	241,508	535,677
	Liability for Incurred Claims:
	- Present Value of future cashflows	9,586,459	8,831,847	5,792,873	5,073,515
	- Risk Adjustment	794,082	775,326	660,098	576,509
	Total Insurance Contract Liability	36,866,673	24,745,705	15,913,741	11,338,575

Insurance Contract Liabilities	Liability for Remaining Coverage:		Liability for Incurred Claims
Portfolios	Excluding loss component	Loss component	Present Value of future cashflows	Risk Adjustment
AVIATION	-	-	3,304.64	330
BOND	-	-	0.00	-
ENGINEERING	934,079	19	608,220.43	77,949
FIRE	1,334,391	-	1,223,646.20	134,550
GENERAL_ACCIDENT	1,131,580	-	602,871.89	47,984
MARINE	853,099	-	2,171,144.89	305,844
MOTOR	3,141,949	-	577,315.18	32,805
OIL_AND_ENERGY	1,824,163	241,490	606,369.56	60,637
	9,219,262	241,508	5,792,873	660,098

22	Reinsurance Contract Liabilities
	Liability for Remaining Coverage:
	-Excluding loss component	-	1,127,265	-
	-Loss component	-	-	-
	Liability for Incurred Claims:
	- Present Value of future cashflows		(372,297)	-
	- Risk Adjustment		(46,962)	-
	Total Reinsurance Contract Liability	-	708,005	-	-

Deferred tax liabilities

837,580

(837,580)

22	Investment Contract Liabilities
	At start of period	4,314,872	2,566,402	-	-
	Additions	6,902,110	2,194,520	-	-
	Withdrawals	(2,474,617)	(990,440)	-	-
	Guarantee interest	425,765	56,160	-	-
	At end of period	9,168,130	3,826,642	-	-

22.1	Group Deposit Administration - Investmnent Contract
	At start of period	54,472	54,472	-	-
	At end of period	54,472	54,472	-	-

22.2	Individual Deposit Administration - Investment Contract
	At start of period	4,260,400	2,511,930	-	-
	Additions	3,863,608	2,194,520	-	-
	Withdrawals	(1,667,688)	(990,440)	-	-
	Guarantee interest	324,542	56,160	-	-
	Guarantee interest - Interim Audit Adjustment		(990,440)	-	-
	At end of period	6,780,862	2,781,730	-	-

23	Share capital	Number	Number	Number	Number
	Issued:	23,991,679,506	23,991,679,506	23,991,679,506	23,991,679,506

Issued and fully paid:
At start of the year	11,995,952	11,995,952	11,995,952	11,995,952
Movements	-	-	-	-
At end of year	11,995,952	11,995,952	11,995,952	11,995,952

24	Share premium
	At start of the year	4,612,938	4,612,938	4,612,938	4,612,938
	Movements		-	-	-
	At end of year	4,612,938	4,612,938	4,612,938	4,612,938

25	Contingency reserve
	At start of period	5,076,388	4,719,063	5,073,345	3,971,002
	Exchange Gain/Loss on Cedi Opening Balance		-	-	-
	Appropriation from profit and loss accounts	966,465	1,741,534	1,424,294	1,102,343
	At end of year	6,042,853	6,460,597	6,497,639	5,073,345

26	Other reserves
	At start of period	8,276,842	4,814,789	4,987,555	2,887,869
	Fair value of FVOCI financial instrument reclassified to OCI		-	-	(160,316)
	Net fair value gain on financial asset		110,211	(339,836)	33,150
	Net changes in ECL allowance on fixed income securities at		-		(7,187)
	Revaluation reserve on property	1,111,969	-	-	2,101,933
	Fair value changes in equity securities during the year net of tax		-		132,105
	At end of year	9,388,811	4,925,000	4,647,719	4,987,555

27	Retained earnings
	At start of the year	9,797,018	(1,756,502)	(67,059)	(3,677,599)
	Interim & Full Year Appropriation Adjustment		-	-	-
	Transfer from profit or loss	7,116,233	9,192,251	3,951,894	4,712,883
	Transfer to contigency reserve	(966,465)	(1,741,534)	(1,424,294)	(1,102,343)
	Share of Associate profit at start of year		2,437,201	-	-
	At end of year	15,946,786	8,131,416	2,460,542	(67,059)

Earlier from Coronation Insurance

All Coronation Insurance news releases