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Condensed Balance Sheet

Rand thousands
					31 December 2007
		30 June 2008	30 June 2007	% Change	(Audited)
Assets
Property and equipment		81,250	63,607		63,531
Investments		1,079,706	1,120,253	(3.6%)	1,111,752
Intangible insurance assets – deferred
acquisition costs		115,676	110,810		113,127
Retirement benefit fund surplus		80,721	74,020		96,196
Assets arising from reinsurance contracts		697,902	639,878		481,928
Current assets		1,086,265	982,328	10.6%	1,301,940
Cash and cash equivalents		1,981,961	1,497,550	32.3%	1,583,650
Total assets		5,123,481	4,488,446	14.1%	4,752,124
Equity and liabilities
Shareholders’ equity		1,905,608	1,850,668	3.0%	1,900,130
Minority shareholders’ interest in subsidiaries		1,495	225		2,090
Employee retirement benefit obligations		14,562	14,270		17,388
Reinsurance commission		38,163	36,390		35,263
Deferred tax liabilities		44,144	56,382		77,656
Liabilities arising from insurance contracts		2,202,003	1,946,394		1,893,070
Other liabilities		917,506	584,117		826,527
Total equity and liabilities		5,123,481	4,488,446		4,752,124

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