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| as at December 31, 2004 | |||||
| Group | Company | ||||
| Note | 2004 | 2003 | 2004 | 2003 | |
| R000 | R000 | R000 | R000 | ||
| Assets | |||||
| Non-current assets | 651,938 | 610,384 | 833,055 | 782,300 | |
| Property, plant and equipment | 5 | 63,518 | 71,335 | 59,383 | 66,538 |
| Investment property | 6.1 | 27,958 | 27,156 | – | 1,500 |
| Investment in subsidiaries | 6.2 | – | – | 232,252 | 218,427 |
| Investment in associates | 6.3 | 19,710 | 19,830 | 9,710 | 9,830 |
| Originated loans | 6.4 | 8,387 | 9,415 | 8,266 | 9,384 |
| Available-for-sale investments | 6.5 | 523,976 | 474,355 | 513,812 | 466,879 |
| Deferred tax assets | 7 | 8,389 | 8,293 | 9,632 | 9,742 |
| Technical assets | |||||
| Reinsurers’ share of technical provisions | 441,800 | 408,776 | 396,004 | 331,340 | |
| Outstanding claims | 249,046 | 189,018 | 227,674 | 181,113 | |
| Unearned premiums | 192,754 | 219,758 | 168,330 | 150,227 | |
| Current assets | 2,381,364 | 1,917,596 | 1,777,325 | 1,320,625 | |
| Agents and other insurance companies’ receivables | 698,992 | 614,346 | 649,632 | 570,898 | |
| Holding company receivables | 2,476 | 399 | 2,476 | 399 | |
| Other receivables | 180,730 | 127,358 | 117,862 | 101,002 | |
| Property for sale | 8 | 22,793 | 31,191 | – | – |
| Taxation paid in advance | 1,092 | 848 | – | – | |
| Trading investments | 6.6 | 322,910 | 254,333 | 322,910 | 254,333 |
| Cash and cash equivalents | 1,152,371 | 889,121 | 684,445 | 393,993 | |
| Total assets | 3,475,102 | 2,936,756 | 3,006,384 | 2,434,265 | |
| Equity and liabilities | |||||
| Shareholders’ equity | 1,513,203 | 1,197,872 | 1,505,860 | 1,182,302 | |
| Share capital | 9 | 3,045 | 3,045 | 3,045 | 3,045 |
| Share premium | 10 | 1,605 | 1,605 | 1,605 | 1,605 |
| Net changes in available-for-sale investments | 361,050 | 291,744 | 501,210 | 420,756 | |
| Translation reserve | (29,463) | (6,016) | – | – | |
| Statutory contingency reserve | 247,482 | 251,800 | 240,819 | 227,794 | |
| Retained earnings | 929,484 | 655,694 | 759,181 | 529,102 | |
| Minority interest | 50,005 | 54,780 | – | – | |
| Interest in subsidiaries | 2,226 | 2,958 | – | – | |
| Cell shareholders’ interest | 47,779 | 51,822 | – | – | |
| Non-current liabilities | 83,578 | 68,941 | 83,578 | 68,941 | |
| Retirement benefit obligations | 11 | 83,578 | 68,941 | 83,578 | 68,941 |
| Technical provisions | 1,518,717 | 1,396,865 | 1,242,735 | 1,076,580 | |
| Gross outstanding claims | 792,207 | 685,321 | 710,252 | 587,348 | |
| Gross outstanding provisions for | |||||
| unearned premiums | 726,510 | 711,544 | 532,483 | 489,232 | |
| Current liabilities | 309,599 | 218,298 | 174,211 | 106,442 | |
| Due to agents and other insurance companies | 96,767 | 84,945 | 84,915 | 70,879 | |
| Other payables | 194,378 | 114,881 | 79,648 | 25,080 | |
| Taxation | 18,454 | 18,472 | 9,648 | 10,483 | |
| Total equity and liabilities | 3,475,102 | 2,936,756 | 3,006,384 | 2,434,265 | |
| Solvency margin (%) | 4 | 57.9 | 47.1 | ||