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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

SUNU Assurances

SUNUASSUR · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
SUNU Assurances Nigeria Plc
Listing
SUNUASSUR on the Nigerian Exchange, active · ISIN NGSUNUASSUR6 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2024 · audited financial statements, signed / final · source

Read with these figures

  • Auditor's emphasis of matter. No emphasis of matter or going-concern paragraph; the report states 'no material uncertainty exists about the Group's ability to continue as a going concern' (p37).
Full wording and sources

  • Auditor's emphasis of matter

    No emphasis of matter or going-concern paragraph; the report states 'no material uncertainty exists about the Group's ability to continue as a going concern' (p37). Key audit matter: valuation of insurance contract liabilities (N6.531 billion) (pp34-35).

    Source: SUNU Assurances Nigeria Plc Audited Financial Statements 31 December 2024 (dated 2025-03-27)

  • Insurance Revenue

    NGN 15.3 billion

    15,267,234 NGN thousands · p63

    +54.7% vs 2023

    'Insurance Revenue' (IFRS 17, p63).

  • Insurance service result

    NGN 4.50 billion

    4,495,098 NGN thousands · p63

    +69.1% vs 2023

    'Insurance service result' (p63).

  • Net Insurance and investment Result

    NGN 6.45 billion

    6,451,741 NGN thousands · p63

    +84.2% vs 2023

    'Net Insurance and investment Result' (p63).

  • Profit/(loss) for the year

    NGN 3.68 billion

    3,679,808 NGN thousands · p63

    +37.4% vs 2023

    'Profit/(loss) for the year' (p63).

  • Total assets

    NGN 23.3 billion

    23,315,803 NGN thousands · p62

    +39.2% vs 2023

    'Total assets' (p62).

  • Total equity

    NGN 13.6 billion

    13,647,455 NGN thousands · p62

    +34.9% vs 2023

    'Total equity' (p62).

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2024 — audited financial statements, signed / final; reported for the year · source
  • FY2023 — audited financial statements, signed / final; comparative in the FY2024 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2024Audited financial statementsreported for the yearFY2023Audited financial statementscomparative in FY2024 filing
Insurance Revenue 15,267,234 9,868,827
Insurance Service Expenses (9,300,160) (6,058,779)
Net Expenses from Reinsurance Contract (1,471,976) (1,151,732)
Insurance service result 4,495,098 2,658,317
Net income from lease & admin. Charges-non- insurance subsidiaries1 167,879 196,694
Profit /(loss)from concessionary arrangement2 50,990 39,824
Net fair value gain on Investment properties3 49,891 –4
Investment income5 1,355,625 608,895
Net fair value gain/(loss) on financial assets 22,053 42,680
Net investment income 1,646,437 888,092
Reinsurance finance income/ expenses6 (64,152) (51,099)
Insurance finance expense/ incomes7 374,358 6,732
Net Insurance and investment Result 6,451,741 3,502,043
Other operating income 2,197,281 2,620,742
Employee benefit expenses (1,357,755) (1,054,281)
Impairment loss8 (142,328) (171,297)
Other operating expenses (2,866,973) (2,078,230)
Results of operating activities 4,281,965 2,818,976
Finance costs (7,235) (1,828)
Profit/(Loss) before tax 4,274,730 2,817,148
Income tax expense (594,924) (138,431)
Profit/(loss) for the year 3,679,808 2,678,716
Non-controlling interests9 16,601 45,379
fair value gain on FVOCI”.10 65 21
Revaluation of asset-Building11 253,701 Not reported in this filing12
Other comprehensive income (unlabelled total) 253,766 21
Total comprehensive income for the year 3,933,573 2,678,737
  1. Printed “-”, read as nil: subtotal_arithmetic: is.investment_return.
Notes and alternative reported figures (11)
  1. “Net income from lease & admin. Charges-non- insurance subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 49; within net investment income.
  2. “Profit /(loss)from concessionary arrangement” is an issuer-specific line, not mapped to a shared definition: Note 49.1; within net investment income.
  3. “Net fair value gain on Investment properties” is an issuer-specific line, not mapped to a shared definition: Note 49.2; within net investment income.
  4. “Investment income” is an issuer-specific line, not mapped to a shared definition: Note 50; within net investment income.
  5. “Reinsurance finance income/ expenses” is an issuer-specific line, not mapped to a shared definition: Note 48.2ii.
  6. “Insurance finance expense/ incomes”: mapping to a shared definition is uncertain. Insurance finance income/expense on contracts issued (positive in both years).
  7. “Impairment loss”: mapping to a shared definition is uncertain. Impairment loss (note 53).
  8. “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Printed under 'Profit attributable to:'.
  9. “fair value gain on FVOCI”.” is an issuer-specific line, not mapped to a shared definition: OCI item that may be reclassified (note 44.1).
  10. “Revaluation of asset-Building” is an issuer-specific line, not mapped to a shared definition: OCI item not reclassified; 2023 cell blank.
  11. Not reported in this filing: The line 'Revaluation of asset-Building' carries a 2024 amount only (253,701 in the Group and Company 2024 columns); the Group 2023 column is blank (p63, checked on the page image). Recorded as not reported, not as nil.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2024Audited financial statementsreported for the yearFY2023Audited financial statementscomparative in FY2024 filing
Cash and cash equivalents 11,875,168 8,259,010
Financial assets1 1,735,828 133,255
Premium receivables2 1,041,024 911,365
Reinsurance contract assets 2,113,141 1,666,574
Prepayments and other receivables3 594,483 546,306
Investment in subsidiaries4 –5 –5
Investment properties 465,000 414,592
Intangible assets 539,048 551,828
Property, plant and equipment 4,556,548 3,939,629
Right of use assets 80,563 11,036
Statutory deposit6 315,000 315,000
Total assets 23,315,803 16,748,595
Insurance contract liabilities 6,531,610 4,960,023
Trade payables7 8,503 23,564
Other technical liabilities8 819,983 202,758
Other Payable and Accruals9 1,509,329 1,193,253
Current tax liabilities 542,307 116,328
Deferred tax 256,618 137,229
Deposit for shares10 –11 –11
Total liabilities 9,668,349 6,633,155
Paid up share capital 2,905,400 2,905,400
Share premium 2,453,326 2,453,326
Retained earnings 5,330,877 2,750,217
Fair value reserve (353) (418)
Contingency reserves12 2,394,226 1,676,934
Revaluation reserves 316,789 63,089
Shareholders funds 13,400,265 9,848,548
Non controlling interest 247,189 266,892
Total equity 13,647,455 10,115,440
Total liabilites and equity 23,315,803 16,748,595
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
Notes and alternative reported figures (10)
  1. “Financial assets”: mapping to a shared definition is uncertain. Financial assets (note 24: FVOCI, FVTPL and amortised cost).
  2. “Premium receivables” is an issuer-specific line, not mapped to a shared definition: Note 25.
  3. “Prepayments and other receivables” is an issuer-specific line, not mapped to a shared definition: Note 27.
  4. “Investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 28; '-' in the group columns.
  5. “Statutory deposit” is an issuer-specific line, not mapped to a shared definition: Note 34: deposit with the regulator.
  6. “Trade payables” is an issuer-specific line, not mapped to a shared definition: Note 35d.
  7. “Other technical liabilities” is an issuer-specific line, not mapped to a shared definition: Note 36.
  8. “Other Payable and Accruals”: mapping to a shared definition is uncertain. Other payables and accruals (note 37).
  9. “Deposit for shares” is an issuer-specific line, not mapped to a shared definition: Note 40; '-' at both dates.
  10. “Contingency reserves” is an issuer-specific line, not mapped to a shared definition: Statutory contingency reserve (note 45).

Cash flow

Cash flow, NGN thousands. Columns: FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2024Audited financial statementsreported for the yearFY2023Audited financial statementscomparative in FY2024 filing
Premium received from intermediaries - 30 days after year end1 40,899 64,769
Premium received from policy holders at initial recognition2 15,418,487 10,225,874
Deposit for premium3 819,983 202,758
Commission received4 720,445 484,011
Receipt from reinsurance recovery5 1,743,050 578,635
Claims paid6 (4,871,044) (3,202,647)
Commission paid7 (2,281,668) (1,236,536)
Maintenance cost8 (647,155) (797,723)
Reinsurance premium paid9 (4,465,895) (2,638,890)
Other operating income10 187,522 69,412
Exchange gain11 1,988,597 2,534,030
Operating costs and payment to employees12 (3,899,547) (2,498,560)
Tax paid (122,887) (82,658)
Net cash inflow/ (outflow) from operating activities 4,630,787 3,702,475
Additions to investment properties13 (16,800) (3,722)
Additions to Intangible assets (91,402) (34,485)
Rental income14 52,432 46,587
Interest income received 1,098,696 436,686
Proceeds from claims salvages15 27,965 –16
Disposal of Financial assets at amortised costs17 –16 –16
Dividend received18 82,420 77,101
Addition to Financial asset at amortised costs19 (1,280,989) Not reported in this filing20
Proceeds from disposal of PPE 30,429 3,263
Additions to property, plant and equipment (488,792) (194,707)
Net cash (outflow)/inflow from investing activities (586,041) 330,723
Cost of private placement21 –22 –22
Payment for lease liability (27,030) –22
Dividend paid23 (401,558) (280,424)
Net cash inflow from financing activities (428,588) (280,424)
Net (decrease)/increase in cash and cash equivalents 3,616,158 3,752,774
Cash and cash equivalents brought forward 8,259,010 4,506,236
Cash and cash equivalents carried forward 11,875,168 8,259,010
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (21)
  1. “Premium received from intermediaries - 30 days after year end” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  2. “Premium received from policy holders at initial recognition” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  3. “Deposit for premium” is an issuer-specific line, not mapped to a shared definition: Direct method, operating (note 36).
  4. “Commission received” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  5. “Receipt from reinsurance recovery” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  6. “Claims paid” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  7. “Commission paid” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  8. “Maintenance cost” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  9. “Reinsurance premium paid” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  10. “Other operating income” is an issuer-specific line, not mapped to a shared definition: Direct method, operating (note 52).
  11. “Exchange gain” is an issuer-specific line, not mapped to a shared definition: Direct method, operating (note 52).
  12. “Operating costs and payment to employees” is an issuer-specific line, not mapped to a shared definition: Direct method, operating.
  13. “Additions to investment properties” is an issuer-specific line, not mapped to a shared definition: Investing (note 29).
  14. “Rental income” is an issuer-specific line, not mapped to a shared definition: Investing (note 50).
  15. “Proceeds from claims salvages” is an issuer-specific line, not mapped to a shared definition: Investing; 2023 printed '-'.
  16. “Disposal of Financial assets at amortised costs” is an issuer-specific line, not mapped to a shared definition: Investing (note 24.3.1); '-' in both years.
  17. “Dividend received” is an issuer-specific line, not mapped to a shared definition: Investing (note 50).
  18. “Addition to Financial asset at amortised costs” is an issuer-specific line, not mapped to a shared definition: Investing; 2023 cell blank.
  19. Not reported in this filing: The line 'Addition to Financial asset at amortised costs' carries a 2024 amount only ((1,280,989) in the Group and Company 2024 columns); the Group 2023 column is blank (p68, checked on the page image). Recorded as not reported, not as nil.
  20. “Cost of private placement” is an issuer-specific line, not mapped to a shared definition: Financing; '-' in both years.
  21. “Dividend paid”: mapping to a shared definition is uncertain. Group dividend paid (401,558) exceeds the company's (290,540): it includes dividends paid by subsidiaries to non-controlling interests.

Per share and shares

Per share and shares. Columns: FY2024 — audited financial statements (signed / final), as reported for the year; FY2023 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2024.
Line (as printed) FY2024Audited financial statementsreported for the yearFY2023Audited financial statementscomparative in FY2024 filing
Profit / (loss) attributable to shareholders (NGN thousands)1 3,663,207 2,633,337
Notes and alternative reported figures (1)
  1. Profit / (loss) attributable to shareholders: printed as “Owners of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid (401,558) NGN thousands Audited financial statements, p68
31 Dec 2023 Dividends paid (cash flow statement) Dividend paid (280,424) NGN thousands Audited financial statements, p68

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • SUNU Assurances Nigeria Plc Audited Financial Statements 31 December 2024

    Year ended 31 December 2024 · Audited financial statements · signed / final

    Audit: S.I.A.O (Chartered Accountants), Lagos, unmodified opinion · signed

    Auditor's sign-off: Joshua Ansa, FCA, Engagement Partner, for S.I.A.O

    Final status: Independent auditors' report (scanned page with a text overlay) closes with 'For: S I A O (Chartered Accountants) Ikoyi, Lagos', a handwritten signature above 'Joshua Ansa, FCA, Engagement Partner, FRC/2013/ICAN/00000001728', the ICAN stamp and 'Date: 27th March 2025' (PDF p37, page image). The statement of financial position carries the signatures of the Chairman, the Managing Director/CEO and the Chief Financial Officer under a board approval printed as '23th February 2024' (PDF p62, page image), a date before the year end; the approval date is therefore not recorded.

    Document date
    27 Mar 2025
    Published
    3 Apr 2025
    Auditor's report
    27 Mar 2025
    Board approval
    date not recorded
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2024, FY2023
    Basis
    consolidated statements · NGN thousands (printed “In thousand of Nigerian Naira”)
    • Board approval printed as 'approved by the Board of Directors on 23th February 2024' (p62), before the 31 December 2024 year end and before the auditor's report of 27th March 2025; not recorded as a date. The EPS page (p64) heads its columns '2022 2022 2022 2022'. Group 2024 profit before tax 4,274,730 less income tax (594,924) gives 3,679,806, whereas profit for the year is printed 3,679,808 (p63, checked on the render); kept as printed.
    • Unclassified statement of financial position (no current/non-current split); no insurance finance result subtotal is printed; the OCI total is unlabelled; the cash-flow statement uses the direct method with no cash-generated-from-operations subtotal; the row 'Proceeds from staff repayment' prints no figures (p68).
    • Basic and diluted 'Profit/(loss) per share' 63.3 (2023: 46.1) are printed on p64 without a unit; not transcribed.
    Technical details
    File
    141 pages, with a text layer
    SHA-256
    732e56dc2c5c72bc588860d13c34903fb1cc49f19b80db330a2ebe39f530e632
    Entity as printed
    Sunu Assurances Nigeria Plc (the Company) and its Subsidiaries (altogether, the Group)
    Exchange copy
    retrieved 2026-10-08T18:07:10Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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