PPS Integrated Report 2021 135 | Consolidated Statement of Profit or Loss and other Comprehensive Income CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME for the year ended 31 December 2021 Group 2021 2020 Restated* Note R’m R’m Net insurance premium revenue 22 5 030 4 898 Other income 23 605 530 Net investment income and gains on financial assets, excluding third party unit trust holders 7 510 3 423 Investment income 24 2 158 2 098 Gains on financial assets and investment property 25 7 374 2 046 Attributable to unit trust holders 16 (2 022) (721) 13 145 8 851 Net insurance benefits and claims paid 26 (5 451) (4 360) Fair value movement of policyholder liabilities under investment contracts 15 (567) (166) Expenses 27 (2 511) (2 131) Finance costs 29 (5) (19) Profit before movement in insurance policy liabilities 4 611 2 175 Movement in insurance policy liabilities 13 (3 838) (1 691) Tax charge 30 (786) (472) (Deficit)/surplus after tax and policy movements (13) 12 Other comprehensive income: Revaluation of owner-occupied property net of deferred tax (23) (13) Total comprehensive loss for the year (36) (1) * See Note 34 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 R1.6 billion 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.
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