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 34. The PPS Holdings Trust Subsidiary Companies Total remuneration The PPS Holdings Trust Subsidiary Companies Total remuneration (including committees) (including committees) (including committees) (including committees) (including committees) (including committees) Trustees R’000 R’000 R’000 R’000 R’000 R’000 Dr A Coetzee 239 – 239 119 – 119 Mr AH de Vries 239 106 345 222 – 222 Ms D L T Dondur 394 330 724 372 294 666 Mr J A B Downie 547 491 1 038 508 398 906 Dr D P du Plessis 254 1 577 1 831 221 1 384 1 605 Mr C Erasmus 111 2 360 2 471 104 2 205 2 309 Adv L C Haupt 131 – 131 – – – Dr N H P Khosa 238 470 708 221 424 645 Mr I Kotzé 238 32 270 211 27 238 Dr C M Krüger 491 171 662 456 144 600 Dr F Mansoor 238 44 282 221 34 255 Ms J K Myburgh 72 – 72 221 – 221 Dr R E Ngwenya 226 – 226 108 – 108 Dr B R Ntshabele 238 – 238 119 – 119 Mr N Nyawo – – – 92 – 92 Dr R Perumal 131 – 131 – – – Dr R Putter 238 59 297 221 34 255 Mr P Ranchod 85 1 069 1 154 249 784 1 033 Mr V P Rimbault 281 – 281 262 – 262 Prof L C Snyman – – – 92 – 92 Dr S N E Seoka 843 278 1 121 784 259 1 043 Mr S Trikamjee 399 502 901 343 443 786 Prof H E Wainer 76 1 196 1 272 70 1 114 1 184 Total 5 709 8 685 14 394 5 216 7 544 12 760 35. Holding Company The PPS Holdings Trust trustees' remuneration from the Group Trustees' remuneration Related parties 2023 2022 The Professional Provident Society Holdings Trust is the holding entity of the group. The Professional Provident Society Holdings Trust is a trust incorporated in South Africa and has as its sole investment in 100% of the shares of Professional Provident Society Insurance Company Limited, which it acquired from Professional Provident Society NPC during 2011. Professional Provident Society NPC formerly was a company “limited by guarantee” and has been deregistered. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued) 194 Notes to the Consolidated Financial Statements
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