| CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE for the year ended 31 December 2009 |
|||
| Rand thousands | Year ended 31 December 2009 Reviewed |
Year ended 31 December 2008 Audited |
% Change |
| Gross written insurance premium | 5,404,362 |
5,316,490 |
1.7 |
| Insurance premium ceded to reinsurers | (1,139,621) |
(1,127,520) |
|
| Net written insurance premium | 4,264,741 |
4,188,970 |
1.8 |
| Net insurance premium earned | 4,265,262 |
4,116,395 |
3.6 |
| Reinsurance commission earned | 137,380 |
123,486 |
|
| Other income | 28,007 |
14,147 |
|
| Net investment income | 329,163 |
327,100 |
|
| Net income | 4,759,812 |
4,581,128 |
3.9 |
| Net insurance claims | 3,670,143 |
3,086,303 |
18.9 |
| Gross commission | 809,691 |
765,963 |
5.7 |
| Administrative and other operating expenses | 565,052 |
461,567 |
22.4 |
| Expenses | 5,044,886 |
4,313,833 |
16.9 |
| (Loss)/profit before tax | (285,074) |
267,295 |
|
| Income tax credit/(expense) | 100,509 |
(56,838) |
|
| (Loss)/profit after tax | (184,565) |
210,457 |
(187.7) |
| Earnings per share (cents) | (1,515.4) |
1,728.0 |
(187.7) |