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 21. 2022 R'm Participating Nonparticipating Reinsurance outwards Short-Term Insurance Short-Term Insurance Reinsurance outwards TOTAL Net income/(expenses) from reinsurance contracts held Reinsurance expenses - contracts not measured under the PAA Amounts relating to the changes in the remaining coverage: Expected incurred claims and other directly attributable expenses recovery – – (474) – – (474) Change in the Risk adjustment for non-financial risk for the risk expired – – 19 – – 19 CSM recognised for the services received – – (144) – – (144) Experience adjustments arising from ceded premiums paid in the period other than those that relate to future service – – (40) – – (40) Reinsurance expenses - contracts not measured under the PAA – – (639) – – (639) Incurred claims recovery – – 466 – 37 503 Reinsurance expenses - contracts measured under the PAA – – – – (52) (52) Total net expenses from reinsurance contracts held – – (173) – (15) (188) TOTAL INSURANCE SERVICE RESULT (155) (74) (173) 4 (15) (413) Analysis of Revenue, Insurance Service Expenses and Net Expenses From Reinsurance Contracts Held (continued) NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) for the year ended 31 December 2023 182 Notes to the Consolidated Financial Statements
RkJQdWJsaXNoZXIy MTY2ODY3Ng==