CORNERSTONE INSURANCE : EARNINGFORCAST

COMPANY: CORNERSTONE INSURANCE PLC

SECOND QUARTER ENDING 30 JUNE 2024

EARNINGS FORECAST

PROFIT OR LOSS ACCOUNT INFORMATION & CASHFLOW

	Q2 2024
	Group	Company
	N'000	N'000
Gross Premium	21,938,028	16,497,827
Net Earned Premium	9,869,421	7,609,266
Net Claims Incurred	4,410,642	3,710,967
Investment Income	10,148,724	6,221,489
Net Operating Income	15,607,502	10,119,787
Net Commission Incurred	1,118,489	999,547
Operating Expenses	4,112,412	3,082,469
Profit/Loss Before Tax	10,376,602	6,037,772
Forecast Taxation	2,075,320	1,207,554
Profit/Loss After Tax	8,301,281	4,830,217

Cash From Operating Activities
Net Cash Generated From Operating	2,911,121	1,719,846
Activities
CashFlow From Investing Activities	6,283,346	3,759,824
CashFlow From Financing Activities	(55,080)	(39,595)
Net Increase In Cash & Cash	9,139,387	5,440,076
Equivalents
Cash/Bank Balance at the Beginning of	14,006,388	5,344,422
the Period
Cash/Bank Balance at the End of the	23,145,775	10,784,497
Period

Uchenna Onodu	Mr. Stephen Alangbo
Financial Controller	Managing Director/Chief Executive
FRC/2023/PRO/ICAN/001/597226	FRC/2017/CIIN/00000016217