Gulf Insurance Group K.S.C.P. (KWSE:GINS)

KWSE:GINS Balance Sheet

Financials in millions KWD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Investments in Debt Securities	416.72	385.4	301.01	282.95	81.14
Investments in Equity & Preferred Securities	54.31	48.38	73.02	77.19	64.43
Policy Loans	0.14	0.62	0.48	0.5	0.87
Other Investments	37.18	62.89	65.08	122.24	71.37
Total Investments	636.24	603.22	502.86	500.54	230.23
Cash & Equivalents	160.85	156.41	227.75	231.6	71.34
Reinsurance Recoverable	264.2	242.27	212.36	235.29	292.36
Other Receivables	43.76	16.78	36.11	219.93	129.32
Deferred Policy Acquisition Cost	-	-	-	18.61	3.14
Separate Account Assets	-	-	-	7.35	-
Property, Plant & Equipment	41.82	44.34	48.88	47.5	38.22
Goodwill	33.4	33.32	33.23	32.71	15.1
Other Intangible Assets	41.52	46.34	45.88	45.77	-
Other Current Assets	4.62	14.96	6.26	27.32	21
Long-Term Deferred Tax Assets	2.57	3.23	2.54	-	-
Other Long-Term Assets	8.73	14.55	27.47	6.68	-
Total Assets	1,238	1,175	1,143	1,373	800.71
Accrued Expenses	14.08	14.38	23.81	83.58	45.42
Insurance & Annuity Liabilities	634.5	577.85	543.91	234.8	160.24
Unpaid Claims	-	-	-	435.53	372.15
Unearned Premiums	-	-	-	170.81	59.35
Reinsurance Payable	22.46	36.05	23.94	2.39	2.18
Current Portion of Long-Term Debt	15.46	10.71	-	-	-
Current Portion of Leases	1.06	0.63	-	-	0.75
Short-Term Debt	-	3.08	-	-	-
Current Income Taxes Payable	5.73	5.5	1.74	0.98	0.75
Long-Term Debt	35.4	42.4	58.08	75.48	-
Long-Term Leases	4.16	4.41	4.43	-	0.56
Long-Term Deferred Tax Liabilities	1.37	0.92	0.57	-	-
Other Long-Term Liabilities	105.04	87.56	107.39	10.86	3.85
Total Liabilities	857.62	801.27	779.38	1,024	655.38
Common Stock	28.46	28.46	28.46	28.46	18.7
Additional Paid-In Capital	55.22	54.05	54.05	54.05	6.7
Retained Earnings	193.45	181.9	172.89	154.08	102
Treasury Stock	-	-0.43	-0.43	-0.43	-0.43
Comprehensive Income & Other	25.44	32.29	33.68	37.05	-9.57
Total Common Equity	302.56	296.26	288.64	273.2	117.4
Minority Interest	77.5	77.88	75.33	76.31	27.93
Shareholders' Equity	380.06	374.14	363.97	349.51	145.33
Total Liabilities & Equity	1,238	1,175	1,143	1,373	800.71
Filing Date Shares Outstanding	284.57	283.75	283.75	283.75	186.22
Total Common Shares Outstanding	284.57	283.75	283.75	283.75	186.22
Total Debt	56.09	61.23	62.5	75.48	1.31
Net Cash (Debt)	104.76	95.17	165.24	156.12	70.03
Net Cash Growth	10.07%	-42.41%	5.85%	122.92%	44.63%
Net Cash Per Share	0.37	0.34	0.58	0.70	0.37
Book Value Per Share	0.85	0.83	0.81	0.75	0.63
Tangible Book Value	227.65	216.6	209.53	194.72	102.3
Tangible Book Value Per Share	0.59	0.55	0.53	0.47	0.55
Land	11.38	12.47	-	18.17	16.12
Buildings	28.5	30.42	-	31.51	22.31
Machinery	-	-	-	34.4	15.39
Leasehold Improvements	-	-	-	2.33	2.27

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.