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2018

2017

2016

2015

2014 DESCRIPTION OF

R’000 R’000 R’000 R’000 R’000 INDIVIDUAL ITEMS

Net insurance premium

revenue

4 163 102

3 858 384 3 413 766 2 985 698 2 664 993

Premiums received from

policyholders net of

reinsurance premiums paid

to reinsurers.

Other income

418 219

437 165 369 232 356 804 310 713

Administration fees: Long-

and short-term insurance,

medical aid and retirement

annuity. Short-term

insurance commissions.

Fees earned for asset

management.

Investment income

and profits/(losses) on

financial assets and

investment property

14 220

4 594 132 2 275 380 2 683 238 3 041 802

Interest, dividends, and

realised and unrealised

growth on investment

assets.

Attributable to unit

trust holders

(154 618)

(966 613) (476 512) (278 818) (503 228)

Third-party unit trust

holders' share of

revaluation profits.

Total revenue

4 440 923

7 923 068 5 581 866 5 746 922 5 514 280

Gross insurance

benefits and claims

3 166 954

2 877 157 2 422 710 2 177 256 1 766 617

Gross benefits paid to

members.

Reinsurance claims

recoveries

(235 076)

(177 198) (160 042) (132 221) (75 852)

Insurance benefits

recovered from reinsurers.

(Decrease)/Increase

in fair value of

policyholder liabilities

under investment

contracts

(48 342)

140 060 15 296 69 023 53 319

Investment income, net

of expenses, relating to

the underlying assets

linked to the investment

policyholder contracts.

Expenses

1 910 477

1 596 492 1 507 437 1 381 401 1 089 494

Group operating expenses,

commissions paid on new

business written, and

investment management

fees.

(Loss)/Profit

before movement

in insurance policy

liabilities

(353 090)

3 486 557 1 796 465 2 251 463 2 680 702

Movement to insurance

policy liabilities

(333 723)

3 011 553 1 546 773 1 820 625 2 378 867

The amount allocated to

members in their capacity

as policyholders.

Tax

(27 939)

465 379 226 342 356 304 266 088

Taxes raised in favour

of the South African

and Namibian Revenue

Services.

Surplus after tax and

policy movements

8 572

9 625 23 350 74 534 35 747

Any adjustment required

to maintain capital cover

and the result of operations

of subsidiaries, other than

the long-term insurance

subsidiary.

PPS GROUP CONSOLIDATED STATEMENT OF

PROFIT OR LOSS

for the year ended 31 December 2018

This amount forms part of

the annual allocation to members’

PPS Profit-Share Accounts. The balance of

R968.3 million is from the movements in

the Actuarial Reserve

This comprises

insurance claims paid to

members and Profit-Share

pay-outs

PPS

INTEGRATED REPORT 2018

34