2019 Integrated Report

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) for the year ended 31 December 2019 146 | PPS INTEGRATED REPORT 2019 24.GAINS/(LOSSES) ON FINANCIAL ASSETS AND INVESTMENT PROPERTY Group 2019 2018 R’000 R’000 Financial assets held at fair value through profit or loss Net realised gains on disposal of financial assets 1 111 495 484 984 Net realised foreign exchange gains 28 071 12 226 Net unrealised gains/(losses) on revaluation of financial assets 1 822 408 (2 563 915) Investment property Fair value losses on investment property (2 712) (16 770) Total gains/(losses) on financial assets and investment property 2 959 262 (2 083 475) 25.NET INSURANCE BENEFITS AND CLAIMS Group 2019 2018 R'000 R'000 Gross Long-term insurance contracts with and without DPF – Individual sickness and incapacity benefits: Current year 1 391 232 1 231 269 – Individual sickness and incapacity benefits: Under/(over) provision for prior year 51 485 28 957 – Group non-DPF component of death benefits 716 060 627 438 – Individual DPF component of death, retirement and resignation benefits 1 456 036 1 146 536 Short-term insurance contracts – Personal lines 119 358 122 447 – Commercial lines 8 714 10 307 – Professional indemnity 6 591 – Total gross insurance benefits and claims 3 749 476 3 166 954 Reinsurance recoveries Long-term insurance contracts with and without DPF – Individual sickness and incapacity benefits (103 581) (100 241) – Death benefits (150 183) (134 835) Short-term insurance contracts – Personal lines (1 264) – – Professional indemnity (5 231) – Total reinsurance recoveries (260 259) (235 076) Total net insurance benefits and claims 3 489 217 2 931 878