Condensed statement of financial performance
  for the six months ended 30 June 2010
  Rand thousands
Six months  
ended  
30 June 2010  
Unaudited  
Six months  
ended  
30 June 2009  
Unaudited  
% Change  
Year ended  
31 December  
2009  
Audited  
  Gross written insurance premium
2,426,538  
2,872,055  
(16%) 
5,404,362  
  Insurance premium ceded to reinsurers
(535,480) 
(672,143) 
  
(1,139,621) 
  Net written insurance premium
1,891,058  
2,199,912  
(14%) 
4,264,741  
  Net insurance premium earned
1,876,009  
2,221,796  
(16%) 
4,265,262  
  Reinsurance commission earned
77,897  
62,381  
  
137,380  
  Other income
12,823  
3,711  
  
28,007  
  Net investment income
96,206  
161,262  
  
329,163  
  Net income
2,062,935  
2,449,150  
(16%) 
4,759,812  
  Net insurance claims
1,321,192  
1,683,944  
(22%) 
3,670,143  
  Gross commission
377,646  
407,678  
(7%) 
809,691  
  Administrative and other operating expenses
422,710  
227,245  
86%  
565,052  
  Expenses
2,121,548  
2,318,867  
(9%) 
5,044,886  
 
   
   
   
   
  (Loss)/profit before tax
(58,613) 
130,283  
   
(285,074) 
  Income tax credit/(expense)
15,958  
(23,854) 
  
100,509  
  (Loss)/profit after tax
(42,655) 
106,429  
(140%) 
 (184,565) 
 
   
   
   
   
  Earnings per share (cents)
(350.2) 
873.8  
(140%) 
 (1,515.4)