2020 INTEGRATED REPORT

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2020 Group 2020 2019 Note R’m R’m Net insurance premium revenue 21 4 898 4 607 Other income 22 530 481 Net investment income and gains on financial assets, excluding third party unit trust holders 3 400 3 609 Investment income 23 2 576 2 385 Gains on financial assets and investment property 24 1 677 2 959 Attributable to unit trust holders 15 (853) (1 735) 8 828 8 697 Net insurance benefits and claims paid 25 (4 360) (3 489) Fair value movement of policyholder liabilities under investment contracts 14 (166) (170) Expenses 26 (2 108) (2 210) Finance costs 28 (19) (24) Profit before movement in insurance policy liabilities 2 175 2 804 Movement in insurance policy liabilities 12 (1 691) (2 436) Tax charge 29 (472) (381) Surplus/(deficit) after tax and policy movements 12 (13) Other comprehensive income: Revaluation of owner-occupied property net of deferred tax (13) 0.3 Total comprehensive loss for the year (1) (13) The mutual nature of PPS should be noted. The allocation to policyholders – described above as “Movement in insurance policy liabilities” – is a portion of the annual allocation to members’ PPS Profit-Share Account in their capacity as policyholders. A further R524m is from the movements in the Actuarial Reserve. The deficit after tax is the result of operations of the non-insurance subsidiaries and any increase required to maintain capital. PPS INTEGRATED REPORT 2020 | 125