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 10. 10.3 (b) Change in Assumptions % Impact on CSM Gross of reinsurance Impact on CSM net of reinsurance 10% (940) (719) 10% (224) (164) -10% 322 317 10% (98) (98) 10% (5) (5) Change in Assumptions % Impact on CSM Gross of reinsurance Impact on CSM net of reinsurance 10% (1 588) (1 206) 10% (266) (198) -10% (57) (60) 10% (106) (106) 10% (2) (2) Expense inflation Sensitivity analysis The sensitivities above illustrating the impact on the CSM in key valuation assumption of the nonparticipating portfolio which relates to a small portion of the total liabilities as the participating portfolio does not have a CSM. 2023 R'm Mortality Morbidity Terminations Maintenance expenses Expense inflation 2022 R'm Mortality Morbidity Terminations Maintenance expenses Assumptions, change in assumptions and sensitivities (continued) PPS Profit-Share accounts and Long-term insurance contract liabilities 164 Notes to the Consolidated Financial Statements
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