2023 2022 Restated* Note R’m R’m 574 645 21 (5) (413) 5 225 4 404 (5 260) (4 629) 30 (188) 25 579 1 058 687 1 004 (108) 54 22 758 637 26 (898) (776) 28 (4) (7) Net Investment result 5 312 83 23 3 078 2 529 24 4 039 (2 216) 16 (1 427) 101 (378) (331) (626) 84 5 – 5 121 666 Tax 29 (536) (107) 4 585 559 (4) 10 4 581 569 (4 577) (619) (4) 50 – – * Total comprehensive income/(loss) for the period to be allocated to qualifying policyholders profit share accounts and change in the residual net assets (Deficit) / Surplus on revaluation of owner-occupied property, net of deferred tax Asset manager fees Operating expenses - non - insurance business Finance expense Investment income Gains / (Losses) on investments Attributable to unit trust holders Insurance service result Insurance revenue Insurance claims and service expenses Net income (expense) from reinsurance contracts held Net finance income/(expense) Finance income from insurance contracts issued Finance (expense) / income from reinsurance contracts held Movement in fair value of policyholder liabilities under investment contracts Group Net insurance service result Other Income - non - insurance business Share of profit - Associates and joint ventures Profit Attributable to PPS qualifying policyholders for the year Allocated to qualifying members' profit-share accounts The mutual nature of PPS should be noted. The allocation to PPS Insurance and PPS Namibia policyholders – described above as “Allocated to qualifying members' profit share accounts” of R4 577 million (2022: R619 million) – is the annual allocation to members’ PPS Profit-Share Account in their capacity as policyholders. Change in residual net assets arising in year, attributable to members Total comprehensive income after allocations to profit-share accounts and change in residual net assets The initial application of IFRS 17 has a material effect on the information in the prior period, 31 December 2022. The Group is presenting a restated 31 December 2022 Statement of Profit or Loss and Other Comprehensive income to reflect the initial application of IFRS 17 as required by IFRS 17. Profit before tax Other comprehensive income CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEfor the year ended 31 December 2023 103 Consolidated Statement of Profit or Loss and Other Comprehensive Income
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