1. Note Financial assets and liabilities classified as fair value through profit or loss on initial recognition Financial assets and liabilities at amortised cost PPS ProfitShare accounts and reinsurance contracts Total carrying amount Fair value 7 15 691 – – 15 691 15 691 7 6 607 – – 6 607 6 607 7 20 042 – – 20 042 20 042 7 57 – – 57 57 7 11 500 – – 11 500 11 500 9 – – 1 382 1 382 1 382 13 – 1 069 – 1 069 1 069 14 – 2 915 – 2 915 2 915 10 – – (32 293) (32 293) (32 293) – – (7 290) (7 290) (7 290) – – (240) (240) (240) 9 – – (118) (118) (118) 15 (4 495) – – (4 495) (4 495) 16 (15 086) – – (15 086) (15 086) 9 – – (13) (13) (13) 20 – (221) – (221) (221) (a) * Fair value analysis of financial statement line items with a fair value (continued) The note has been restated to align with IFRS 17 disclosures and to remove prepayments from the table Qualifying policyholders’ residual interest in the net assets of the PPS Group Group R’m 2022 Restated* Equity securities(a) Local listed International listed Debt securities(a) Government and local bonds International listed Unit trusts and pooled funds(a) Reinsurance contract assets Receivables Cash and cash equivalents PPS Profit-Share accounts Liability for remaining coverage and incurred claims Short-term insurance policy liabilities Investment contract liabilities Debt securities are designated at fair value through profit and loss and Equity securities and Unit trusts and pooled funds are mandatorily held at fair value through profit and loss. Payables Liabilities to unit trust holders Reinsurance contract liabilities NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 33 37. 37.3 Carrying Total cash Within 2 – 5 6 – 10 11 – 20 Over 20 amount flows 1 year years years years years 34 684 34 684 1 945 5 228 7 510 13 130 6 871 8 006 (906 514) (2 033) (771) (257) (11 441) (892 012) 138 138 117 21 – – – 17 925 17 925 17 925 – – – – 5 529 5 529 349 1 395 1 842 1 943 – 273 273 273 – – – – 32 35 20 15 – – – Management of risks (continued) Financial risk management (continued) (a) These have been disaggregated in the below table to align with IFRS 17 disclosure requirements Contractual cash flows Group 2023 R'm PPS Profit-Share accounts(a) Liability for remaining coverage and incurred claims (a) Short-term Insurance liabilities Third-party financial liabilities arising on consolidation of unit trusts Investment contract liabilities Other financial liabilities Lease liabilities The following are the contractual maturities of financial liabilities and insurance contract liabilities, including interest payments and excluding the impact of netting agreements: For long-term obligations, the amounts in the table represent the estimated cash flows, consistent with the valuation methodology followed by the calculation of the insurance contracts on the published reporting basis. All the cash flows are shown net of reinsurance. Nominal cash flows are shown and the effect of discounting is taken into account to reconcile to total policy liabilities under insurance contracts. Since the PPS Profit-share accounts are a retrospective accumulation of past profit declarations, the current value is taken as the value of the underlying assets (shown in the tables below). (continued) 218 Notes to the Consolidated Financial Statements
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