GUINEA INSURANCE : EARNINGFORCAST

GUINEA INSURANCE PLC

FORECAST STATEMENT OF CASH FLOWS FOR THE 1ST QUARTER ENDING MARCH 31, 2024

Operating activities:

TOTAL

=N=' 000

Premium received	1,020,000
Commission received	53,550
Commission paid	(153,000)
Maintenance cost	(46,755)
Reinsurance premium paid	(153,000)
Gross claim paid	(215,628)
Reinsurance recoveries	76,988
Payments to employees	(192,682)
Other operating expenses	(284,184)
Other income received	-
Tax paid	(5,000)
Net cash flow from operating activities	100,289
Investing activities:
Investment income received	123,811
Purchase of intangible assets	0
Purchase of property and equipment	(20,111)
Proceed from sale of property and equipment	-
Purchase of financial assets	(45,900)
Purchase of investment properties	-
Net cash flows from investing activities	57,800
Financing activities:
Deposit for shares
Interest repayment on finance lease	-
principal repayment on finance lease	-
New alloted shaares	-
Net cash flows from financing activities	-
Net increase in cash and cash equivalents
158,089
Effect of exchange rate changes on cash and cash
equivalent
Cash and cash equivalents at 1 January	547,344
Cash and cash equivalents at 31 December, 2024	705,433

ED, FINANCE & ADMIN

MANAGING DIRECTOR/CEO

GUINEA INSURANCE PLC

FORECAST INCOME STATEMENT FOR THE 1ST QUARTER

ENDING 31ST MARCH, 2023

Gross premium written

Changes in unearned premuim

Gross premium income

Reinsurance expenses

Net premium income

Fees and commission income on reinsurance

Net underwriting Income

Claims expenses

Underwriting expenses

Underwriting profit

TOTAL

=N=' 000

1,020,000

(102,000)

918,000

(153,000)

765,000

57,863

822,863

(142,953)

(158,168)

521,742

Investment Income	123,811
Fair value gains on investment properties	-
Other operating income/(loss)	-
Impairment (charge)/reversal	-
Finance cost	-
Other operating expenses	(404,265)
Profit/(Loss) before taxation	241,288
Income tax (expense)/credit	(1,275)
Profit/(Loss) after taxation	240,013