Authorised and Regulated by the National Insurance Commission RIC NO. 017
FORECAST STATEMENT OF CASH FLOWS FOR THE 3RD QUARTER ENDING SEPTEMBER 30TH, 2022
Operating activities:
Premium received
Commission received
Commission paid
Reinsurance premium paid
Gross claim paid
Reinsurance recoveries
Payments to employees
Other operating expenses
Other income received
Tax paid
Net cash flow from operating activities
Investing activities:
Investment income received Purchase of property and equipment Proceed from sale of property and equipment
Purchase of financial assets Purchase of investment properties
Net cash flows from investing activities
Financing activities:
Deposit for shares (New capital injection) Interest repayment on finance lease principal repayment on finance lease
Net cash flows from financing activities
Net increase in cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalent
Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December, 2022
TOTAL
N'000
1,593,750
101,602
(204,797)
(270,938)
(382,500)
140,170
(376,697)
(413,030)
-
-
187,560
127,301
(127,634)
-
-
-
(333)
-
-
-
-
187,228
-
392,787
580,015
……………………………………
……………………………………
ED, FINANCE & ADMIN
MANAGING DIRECTOR/CEO
FORECAST INCOME STATEMENT FOR THE 3RD
TOTAL
QUARTER ENDING 30TH SEPTEMBER, 2022
=N=' 000
Gross premium written
1,593,750
Changes in unearned premuim
(95,625)
Gross premium income
1,498,125
Reinsurance expenses
(270,938)
Net premium income
1,227,188
Fees and commission income on reinsurance
241,772
Net underwriting Income
1,468,959
Claims expenses
(382,500)
Underwriting expenses
(248,251)
Underwriting profit
838,208
Investment Income
127,301
Fair value gains on investment properties
-
Other operating income/(loss)
-
Impairment (charge)/reversal
-
Finance cost
-
Other operating expenses
(777,883)
Profit/(Loss) before taxation
187,627
Income tax (expense)/credit
(60,040)
Profit/(Loss) after taxation
127,586
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Guinea Insurance plc published this content on 13 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2022 18:12:03 UTC.
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