Our key KPI’s Unit of measure 2021 Performance 2021 Goal Commentary Financial stability Gross premium income Rand billions 5.6 5.7 GGross premium income (long-term and short-term insurance) is in line with expectations. Investment return % 10.3 9.7 G Investment return measured over a fiveyear rolling period performed ahead of the benchmark. Efficiency ratio % 18.2 17.4 R Cost control remains an imperative of the Group. Once-off cyber recovery costs negatively impacted the efficiency ratio for 2021. New annual risk premiums (longterm insurance) Rand millions 273.7 258.0 GNew annual risk premiums are 23% up on prior year and performed well ahead of target. New gross written premiums (short-term insurance) Rand millions 14.2 28.5 RNew short-term insurance premiums written are 10% up on prior year and performed behind target as a result of lower new policies written. New net investment inflows Rand billions 7.1 7.5 RNew investment inflows are behind target due to the economic impact of COVID-19. Membership Number of new members recruited during the year Individuals 7 024 8 450 RNew member recruitment performed behind target in 2021 due to the lockdown. Long-term insurance policies lapse rate % 5.0 5.4 G Policy lapse rates remained within acceptable levels. Health Claims Rand billions 2.2 1.8 RHealth claims are significantly more than expected and include R423.6 million sickness claims related to COVID-19. Death Claims Rand billions 2.0 0.9 RDeath claims are significantly more than expected and include R974.8 million claims certified as COVID-19. Staff Employee satisfaction survey results % 73 70 GEmployee satisfaction scores remain in excess of target. Training spend as a percentage of payroll % 5.0 > 4.0 G Training spend is ahead of target. Investment in human capital continues to be an important strategic objective of the Group. * Assets in unit trusts for third parties. GAchieved YPartly achieved RNot achieved RTarget metric not achieved but members benefited from value returned through the payment of additional claims during the pandemic. Key performance indicators PPS Integrated Report 2021 85 | Abridged financial statements
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