93 / 184
Group
2017
2016
Note
R’000
R’000
Net insurance premium revenue
21
3 858 384
3 413 766
Other income
22
437 165
369 232
Investment income
23
1 823 561
1 658 022
Investment gains
24
2 770 571
617 358
Attributable to unit trust holders
15
(966 613)
(476 512)
7 923 068
5 581 866
Net insurance benefits and claims
25
2 699 959
2 262 668
Movement in fair value of policyholder liabilities under investment contracts
14
140 060
15 296
Expenses
26
1 596 492
1 507 437
Profit before movement in insurance policy liabilities
3 486 557
1 796 465
Movement to insurance policy liabilities
12
3 011 553
1 546 773
Tax
28
465 379
226 342
Surplus after tax and policy movements
9 625
23 350
Other comprehensive income:
Revaluation of owner-occupied property net of deferred tax
18 608
8 324
Total comprehensive income for the year
28 233
31 674
The mutual nature of PPS should be noted. The allocation to policyholders - described above as ‘Movement to insurance policy
liabilities’ - is a portion of the annual allocation to members’ PPS Profit-Share Account in their capacity as policyholders. The surplus
after tax is the result of operations of the non-insurance subsidiaries and any increase required to maintain capital.
CONSOLIDATED STATEMENT OF PROFIT OR
LOSS AND OTHER COMPREHENSIVE INCOME
for the year ended
31 December 2017
91