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