Our key KPIs Unit of measure 2022 Performance 2022 Goal Commentary Financial stability Gross premium income Rand billions 6.0 6.1 G Gross premium income (long- and short-term insurance) is in line with expectations. Investment return % 7.5 7.0 G Investment return measured over a five-year rolling period performed ahead of the benchmark. Efficiency ratio % 18.4 18.4 R Cost control remains an imperative of the Group. Efficiency ratio in 2022 is in line with goals set. New annual risk premiums (long-term insurance) Rand millions 297.3 297.8 G New annual risk premiums are 9% up on prior year and performed in line with target. New gross written premiums (short-term insurance) Rand millions 21.8 30.4 RNew short-term insurance premiums written are 54% up on prior year, but performed behind target. New net investment inflows Rand billions 7.7 8.0 RNet investment inflows were slightly behind target, but up 9% on prior year. Membership Number of new members recruited during the year Individuals 7 310 8 676 RNew member recruitment performed behind target in 2022. Long-term insurance policies lapse rate % 4.1 4.1 G Lower policy lapse rates that were in line with an aggressive target due to enhanced member retention efforts. Health claims Rand billions 2.4 2.1 R Health claims were ahead of expectations. Death claims Rand billions 1.0 1.5 GDeath claims are significantly less than expected mainly due to less COVID-19-related deaths. Staff Employee satisfaction survey results % 72 70 G Employee satisfaction scores remain in excess of target. Training spend as a percentage of payroll % 5.4 > 4.0 G Training spend is ahead of target. Investment in human capital continues to be an important strategic objective of the Group. KEY PERFORMANCE INDICATORS * Assets in unit trusts for third parties. G Achieved RPartly achieved RNot achieved RTarget metric not achieved but members benefited from value returned through the payment of additional claims during the pandemic 51 Abridged financial statements
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