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THE MUTUAL ETHOS
Unlike most financial services providers in South Africa,
PPS is not listed on any stock exchange and has no
external shareholders. Instead, PPS operates under
the ethos of mutuality and all profits and investment
returns generated are allocated to PPS members with
qualifying products on an annual basis through their
PPS Profit-Share Accounts.
Mutuality is central to our success. Profits and
investment returns are reinvested with a long-term
mindset on members’ behalf. These funds accumulate in
our members’ PPS Profit-Share Accounts (irrespective
of their claims) and vest free of tax at retirement, or
upon death. This benefit has no rival in South Africa.
FOCUS ON THE GRADUATE
PROFESSIONAL MARKET
PPS stands apart from all other financial services
providers, distinguished by:
• Only accepting qualifying graduate professionals
who meet our criteria
• A business model based on mutuality – our members
are the de facto shareholders
As such, member interests inform all our decisions and
actions. PPS has operated according to this model since
our founding over 77 years ago – and will continue
doing so.
LONG-TERM MINDSET
PPS is not focused on delivering short-term returns to
members. PPS is focused on creating and sustaining
long-term growth and wealth, recognising that there is
an alignment of the interests of policyholders – unique
to the insurance industry in South Africa.
The mutual structure allows our management team and
the Board to adopt a long-term approach to running the
business, deploying sustainable long-term strategies,
which make the most efficient use of capital, and benefit
all the generations of professionals we serve.
MEMBERS’ RETURNS
Once members retire from their PPS Insurance
products, the profits they have accumulated over
the course of their membership through their PPS
Profit-Share Accounts will vest. The profits will become
accessible via the Vested PPS Profit-Share Account,
irrespective of whether or not they have claimed,
and
vest at retirement from age 60. This is a unique feature
in the South African insurance sector. The Vested
PPS Profit-Share Account allows members to keep
their PPS Profit-Share Account assets invested for
longer to generate further returns and supplement
their retirement savings.
GOVERNANCE
PPS Insurance is a registered insurer and is subject to
the same governance requirements as a listed insurer.
A unique additional layer of governance is the fact
that our members and professional associations are
represented at the PPS Holdings Trust Board level – the
ultimate control structure of the Group. There is no other
insurance company in South Africa where policyholders
are specifically represented at Board level.
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