| 4. Supplementary income statement |
| Rand thousands |
Year ended
31 December
2009
Reviewed |
Year ended
31 December
2009
Normalised
Unaudited |
Year ended
31 December
2008
Audited |
% Change |
| Gross written insurance premium |
5,404,362 |
5,463,662 |
5,316,490 |
2.8 |
| Insurance premium ceded to reinsurers |
(1,139,621) |
(1,139,621) |
(1,127,520) |
|
| Net written insurance premium |
4,264,741 |
4,324,041 |
4,188,970 |
3.2 |
| |
|
|
|
|
| Net insurance premium earned |
4,265,262 |
4,324,562 |
4,116,395 |
5.1 |
| Net insurance claims |
(3,670,143) |
(3,390,043) |
(3,086,303) |
|
| Net commission incurred |
(672,310) |
(672,310) |
(642,477) |
|
| Administrative and other operating expenses |
(486,958) |
(452,758) |
(425,698) |
|
| Net underwriting result |
(564,149) |
(190,549) |
(38,083) |
(400.4) |
| Attributable investment income |
105,821 |
105,821 |
70,075 |
51.0 |
| General insurance result |
(458,328) |
(84,728) |
31,992 |
(364.8) |
| |
|
|
|
|
| Impairments on available-for-sale financial assets |
(1,539) |
(1,539) |
(21,050) |
|
| Non-technical expenses |
(50,087) |
(20,987) |
(21,722) |
|
| Investment income |
121,073 |
121,073 |
203,734 |
|
| Investment expenses |
(4,824) |
(4,824) |
(3,960) |
|
| Net realised gains on disposal of investments |
108,631 |
108,631 |
78,301 |
|
| (Loss)/profit before tax |
(285,074) |
117,626 |
267,295 |
|
| Income tax credit/(expense) |
100,509 |
(12,247) |
(56,838) |
|
| (Loss)/profit after tax |
(184,565) |
105,379 |
210,457 |
|
|