2019 Integrated Report

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) for the year ended 31 December 2019 170 | PPS INTEGRATED REPORT 2019 taken into account to reconcile to total policy liabilities under insurance contracts. Since the DPF component is a retrospective accumulation of past profit declarations, the current value is taken as the value of the underlying assets (shown in the tables above). Group Contractual cash flows 2019 Carrying Total cash Within 1 2 – 5 6 – 10 11 – 20 Over 20 R'000 amount flows year years years years years Insurance contract liabilities – DPF 28 975 441 28 975 441 1 796 255 4 338 124 6 289 637 10 821 406 5 730 019 Insurance contract liabilities – non-DPF 3 973 407 (98 664 290) 961 283 3 101 046 2 180 136 (216 607) (104 690 148) Short-term Insurance liabilities 38 883 38 883 33 024 5 859 – – – Reinsurance payables 38 493 38 493 38 493 – – – – Third-party financial liabilities arising on consolidation of unit trusts 14 908 168 14 908 168 14 908 168 – – – – Investment contract liabilities 2 589 356 2 589 356 2 589 356 – – – – Borrowings 166 244 166 244 25 837 109 798 2 558 28 051 – Other financial liabilities 941 068 941 068 941 068 – – – – Lease liabilities 74 627 74 627 20 345 54 282 36.MANAGEMENT OF RISKS (continued) 36.3 Financial risk management (continued)