PPS Group consolidated statement of financial position as at 31 December 2021 2021 R’m 2020 Restated R’m 2019 Restated R’m 2018 R’m 2017 R’m Description of individual items ASSETS Property and equipment 622 681 736 594 593 Fixed assets owned and leased. These include PPS’s head office premises, furniture, equipment, computers and vehicles. Investment property 371 460 501 409 382 Properties which are held for the purpose of rental income and capital appreciation. Intangible assets 244 235 175 168 90 Internally-developed insurance software and acquired customer relationships. Assets held for sale 60 – – – – Investment property disposed of which transfer of ownership is in progress at 31 December. Other non-current assets 53 145 45 692 40 819 43 215 41 395 Assets backing insurance liabilities. These mainly comprise investments in equities and bonds, managed by investment managers who act in accordance with investment mandates set by the board of directors of PPS Insurance. Current assets 5 226 3 456 3 060 3 203 3 532 Primarily cash resources of PPS Group. Total assets 59 668 50 524 45 291 47 589 45 992 EQUITY AND LIABILITIES Total equity 307 339 339 360 449 Statutory capital requirement of the insurance entities, revaluation reserve of owner-occupied properties and certain reserves of subsidiaries. Insurance policy liabilities, and ProfitShare Accounts 39 730 35 481 33 419 31 137 31 418 PPS Profit-Share Accounts (DPF-Policyholder Liabilities) 33 219 29 467 28 975 26 073 26 615 Members' Profit-Share Accounts comprising cumulative operating profits and investment profits/ (losses). Actuarial reserves (Non-DPF Policyholder Liabilities) 5 406 5 185 3 945 4 527 4 263 Capital held to pay future claims. Current liabilities 1 105 829 499 537 540 Long-term insurance: Notified claims not yet paid and claims provisions. Investment contract liabilities 4 205 3 194 2 589 2 046 1 877 Funds of members invested in PPS living annuities and endowment products. Liabilities to unit trust holders 12 454 9 297 7 197 12 670 10 709 Value of outsiders' investments in unit trusts controlled by PPS. Other liabilities 2 972 2 213 1 747 1 376 1 539 Primarily current liabilities. Total equity and liabilities 59 668 50 524 45 291 47 589 45 992 PPS Members’ Profit-Share Accounts comprising Apportionment and Special Benefit Accounts 83 | Abridged financial statements PPS Integrated Report 2021
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