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 8. 8.1 Non-life risk 2022 R'm Liability for remaining coverage Estimates of the present value of future cash flows Risk adjustment for nonfinancial risk Liability for remaining coverage Estimates of the present value of future cash flows Risk adjustment for nonfinancial risk Total Cash flows Premiums received 2 – – 70 – – 72 Claims and other directly attributable expenses – (107) – – (1) – (108) Total cash flows 2 (107) – 70 (1) – (36) Other movements (1) – – – – – (1) Insurance contract liabilities at 31 December – 32 1 2 66 17 118 (a) The short-term insurance contracts applied the full retrospective transition approach Liabilities for incurred claims Liabilities for incurred claims Reconciliation of the liability for remaining coverage and the liability for incurred claims (continued) Short Term Insurance Motor & Household Short Term Insurance Healthcare Professional Indemnity Short-term insurance liabilities (continued) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 148 Notes to the Consolidated Financial Statements
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