Balance Sheets
| As at 31 December 2005 | |||||
 |
|
|
|
|
|
Group
|
Company
|
||||
Note |
2005 |
2004 |
2005 |
2004 |
|
R000 |
R000 |
R000 |
R000 |
||
Restated |
Restated |
||||
Assets |
|||||
| Property and equipment | 55,104 |
55,322 |
53,576 |
51,187 |
|
| Investment property | 10,946 |
19,491 |
– |
– |
|
| Investment in subsidiaries | – |
– |
77,107 |
90,534 |
|
| Investment in associates | 3,317 |
10,000 |
– |
– |
|
| Financial assets | |||||
| – Available-for-sale | 557,215 |
533,686 |
546,837 |
523,522 |
|
| – At fair value through income | 429,658 |
322,910 |
429,658 |
322,910 |
|
| – Loans and receivables | 248,660 |
192,060 |
217,581 |
128,604 |
|
| Assets arising from insurance contracts | 529,013 |
424,001 |
401,420 |
376,277 |
|
| Intangible assets | 134,200 |
123,220 |
93,600 |
98,485 |
|
| Deferred income tax assets | – |
10,131 |
– |
11,374 |
|
| Agents and other insurance | |||||
| companies’ receivables | 871,560 |
704,557 |
828,891 |
649,632 |
|
| Property for sale | – |
22,793 |
– |
– |
|
| Cash and cash equivalents | 1,017,528 |
1,148,212 |
387,886 |
684,445 |
|
Total assets |
3,857,201 |
3,566,383 |
3,036,556 |
2,936,970 |
|
Equity |
|||||
| Share capital | 3,045 |
3,045 |
3,045 |
3,045 |
|
| Share premium | 1,605 |
1,605 |
1,605 |
1,605 |
|
| Non-distributable reserve | 369,716 |
361,050 |
374,780 |
359,492 |
|
| Translation reserve | (45,855) |
(29,463) |
– |
– |
|
| Statutory contingency reserve | 269,372 |
247,482 |
261,019 |
240,819 |
|
| Retained earnings | 914,066 |
908,558 |
729,602 |
745,180 |
|
1,511,949 |
1,492,277 |
1,370,051 |
1,350,141 |
||
| Minority interest in subsidiaries | 3,147 |
2,226 |
– |
– |
|
Total equity |
1,515,096 |
1,494,503 |
1,370,051 |
1,350,141 |
|
Liabilities |
|||||
| Retirement benefit obligations | 43,069 |
93,578 |
43,069 |
93,578 |
|
| Liabilities arising from insurance contracts | 1,724,832 |
1,525,840 |
1,388,179 |
1,301,718 |
|
| Reinsurers’ share of unearned | |||||
| commission revenue | 46,738 |
56,985 |
29,917 |
19,775 |
|
| Deferred income tax liabilities | 12,963 |
– |
11,136 |
– |
|
| Amounts due to cell shareholders | 150,988 |
89,872 |
– |
– |
|
| Amounts due to primary policyholders | 19,097 |
15,343 |
– |
– |
|
| Agents and other insurance companies payables | 116,853 |
93,961 |
110,403 |
84,915 |
|
| Trade and other payables | 227,565 |
196,301 |
83,801 |
86,843 |
|
Total liabilities |
2,342,105 |
2,071,880 |
1,666,505 |
1,586,829 |
|
Total equity and liabilities |
3,857,201 |
3,566,383 |
3,036,556 |
2,936,970 |
|
Solvency margin (%) |
52.9 |
57.0 |
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