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 23. 2023 2022 R’m R’m 2 184 1 523 894 1 006 3 078 2 529 (a) 24. 2023 2022 Restated* R’m R’m 4 014 (2 242) (14) (34) 39 60 4 039 (2 216) (a) * Group Group Gains / (Losses) on financial assets and investment property Investment income Financial assets held at fair value through profit or loss and at amortised cost Interest income Dividend income Total investment income (a) Included in the total investment income is non-cash interest of R176 million (2022: R120.7 million) and non-cash dividends of R69 million (2022: R102.7 million) distributed by unit trusts which are directly reinvested in lieu of receiving cash and cash equivalents. Refer to Note 32. This disclosure note has been improved from prior year to show the total fair value movement during the year on financial assets and investment property. This improvement does not change the key elements of the Statement of Financial Position and Statement of Comprehensive Income. Investment property Fair value losses on investment property Financial assets held at fair value through profit or loss Net fair value gains/(losses) on financial assets(a) Net fair value gains on financial assets Total gains/(losses) on financial assets and investment property The significant gains in the current year are as a result of market performance. The significant losses in the prior year were as a result of market performance and the transitioning of assets between fund managers during that year. Financial assets at amortised cost 184 Notes to the Consolidated Financial Statements
RkJQdWJsaXNoZXIy MTY2ODY3Ng==