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 20. 2023 2022 Restated* R’m R’m (2) 2 273 173 236 137 22 24 15 12 32 46 303 221 287 196 16 25 46 62 6 4 3 4 (23) (24) 32 46 Carrying amount Group Total cash Within 2 – 5 R’m flows 1 year years 2023 32 35 20 15 2022 46 50 23 27 Opening balance Additions Interest Payments Closing balance Lease liabilities – Maturity analysis * 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 payables to reflect the application of IFRS 17. Total payables Current Non-current (a) Reconciliation of lease liabilities employees tax sundry creditors Lease liabilities (a) Payables Foreign currency translation balance Other payables accruals Group Contractual undiscounted cash flows 178 Notes to the Consolidated Financial Statements
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