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2017
2016
Change
R’000
R’000
R’000 DESCRIPTION OF INDIVIDUAL ITEMS
ASSETS
Property and equipment
593 445
546 196
47 249 Fixed assets. These include PPS' head office
premises, furniture, equipment, computers
and vehicles.
Investment property
381 869
356 469
25 400 Properties which are held for the purpose of
rental income and capital appreciation.
Intangible asset
89 941
73 187
16 754 PPS Internally developed insurance
software.
Other non-current assets
41 395 493
37 149 710 4 245 783 Assets backing insurance liabilities. These
mainly include investments in equities
and bonds, which assets are managed
by investment managers who act in
accordance with investment mandates set
by the board of directors of PPS Insurance.
Current assets
3 530 857
2 382 905 1 147 952 Primarily cash resources of PPS Group.
Total assets
45 991 605 40 508 467 5 483 138
EQUITY AND LIABILITIES
Total equity
449 414
400 086
49 328 Statutory capital requirement of the
insurance entities, revaluation reserve of
owner-occupied properties, certain reserves
of subsidiaries, and minority interest.
Insurance policy liabilities
31 417 920
28 216 448 3 201 472 Policyholders' funds consisting of (a)
capital held to settle future insurance
claims, and (b) PPS Profit-Share Accounts
of members.
Investment contract liabilities
1 876 916
1 464 986
411 930 Funds of members invested in PPS living
annuities and endowment products.
Liabilities to unit trust holders
10 709 000
9 088 757 1 620 243 Value of outsiders' investments in unit
trusts in which PPS owns a majority stake.
Other liabilities
1 538 355
1 338 190 200 165 Primarily short-term liabilities.
Total equity and liabilities
45 991 605 40 508 467 5 483 138
PPS GROUP CONSOLIDATED
STATEMENT OF FINANCIAL
POSITION
as at
31 December 2017
25