Affiliated Companies
for the year ended 31 December 2008
| Issued ordinary | Proportion held | Amount due to/(by) | |||||||
| share capital | by holding company | Shares at cost | holding company | ||||||
| 2008 | 2007 | 2008 | 2007 | 2008 | 2007 | 2008 | 2007 | ||
| R’000 | R’000 | % | % | R’000 | R’000 | R’000 | R’000 | ||
| (A) | SUBSIDIARIES DIRECTLY | ||||||||
| HELD | |||||||||
| Short-term insurance companies | |||||||||
| Zurich Risk Financing SA | |||||||||
| Limited (formerly SA Eagle | |||||||||
| Risk Financing Limited) | 10,000 | 10,000 | 100 | 100 | 25,000 | 25,000 | 26 | – | |
| Botswana Eagle Insurance | |||||||||
| Company Limited (incorporated in Botswana) | 14,425 | 14,425 | 100 | 100 | 14,359 | 14,359 | 1,470 | – | |
| Eagle Insurance Company | |||||||||
| Limited (incorporated in Zimbabwe) | 711 | 711 | 49 | 49 | 1,151 | 1,151 | 1,137 | 1,084 | |
| African General Insurance | |||||||||
| Company Limited* | 1 | 1 | 99 | 99 | 6,976 | 6,967 | 16 | 308 | |
| General investment companies | |||||||||
| African Guarantee and Indemnity Company Limited* | 1 | 1 | 100 | 100 | 1 | 1 | (636) | (636) | |
| Property companies | |||||||||
| British African Properties | |||||||||
| Limited | 1,200 | 1,200 | 100 | 100 | 6,142 | 6,142 | (3,029) | (3,801) | |
| Eagle Properties (Krugersdorp) | |||||||||
| (Proprietary) Limited* | 1 | 1 | 100 | 100 | 12 | 12 | 5,075 | 5,266 | |
| Eagle Star House | |||||||||
| (Johannesburg) Limited* | 120 | 120 | 100 | 100 | 136 | 136 | (480) | (358) | |
| Surrey View (Proprietary) | |||||||||
| Limited* | 1 | 1 | 100 | 100 | 1 | 1 | 317 | (317) | |
| Waverley Properties | |||||||||
| (Proprietary) Limited* | 90 | 90 | 100 | 100 | 7 | 7 | (2,383) | (2,151) | |
| Other | |||||||||
| Escape Premium Collection | |||||||||
| (Proprietary) Limited | 1,000 | 1,000 | 100 | 100 | 1,000 | 1,000 | 688 | 122 | |
| Zurich Legal Expenses | |||||||||
| Underwriting Managers | |||||||||
| SA (Proprietary) Limited | 1 | 1 | 100 | 89 | 4,450 | 4,450 | – | – | |
| Zurich Life SA Limited | |||||||||
| (formerly SA Eagle Life Limited) | – | – | 100 | 100 | 10,000 | 10,000 | – | – | |
| Goldrush Investments | |||||||||
| (Proprietary) Limited | – | – | 100 | 100 | 2,600 | 2,600 | 191 | – | |
| IDI Technology Solutions (Proprietary) Limited |
– | – | 52.33 | 36 | – | – | 3,327 | 3,327 | |
| (B) | SUBSIDIARIES INDIRECTLY | ||||||||
| HELD | |||||||||
| Eagle Properties (Benoni) | |||||||||
| (Proprietary) Limited | – | – | 100 | 100 | – | – | – | – | |
| Eagle Properties (East London) | |||||||||
| (Proprietary) Limited* | 2 | 2 | 100 | 100 | – | – | – | – | |
| Tarazed (Proprietary) Limited* | – | – | 100 | 100 | – | – | – | – | |
| Threadneedle Properties (SA) | |||||||||
| Limited* | 630 | 630 | 100 | 100 | – | – | – | – | |
| (C) | OTHER | ||||||||
| Zurich Aviation Underwriting | |||||||||
| Managers SA (Proprietary) | |||||||||
| Limited | 1 | 1 | 50 | 50 | – | – | – | – | |
| Liquid Underwriting Managers | |||||||||
| (Proprietary) Limited | 1 | 1 | 30 | 30 | 300 | 300 | 577 | 577 | |
| BnB Sure (Proprietary) Limited | 1 | 1 | 20 | 20 | 210 | 210 | – | – | |
| The aggregate taxed results of subsidiaries were as follows: | |||||||||
| 2008 | 2007 | ||||||||
| R’000 | R’000 | ||||||||
| Profits | 46,792 | 32,875 | |||||||
| Losses | (2,809) | (137) | |||||||
| * Company is in the process of being deregistered. | |||||||||
