| Rand thousands |  |
|||
2007 |
2006 |
% Change |
||
| Insurance premium revenue | 4,400,960 |
3,910,639 |
12.5% |
|
| Insurance premium ceded to reinsurers | 827,941 |
735,513 |
||
| Net insurance premium revenue | 3,573,019 |
3,175,126 |
||
| Net insurance premium earned | 3,539,125 |
3,115,547 |
||
| Reinsurance commission earned | 114,959 |
138,032 |
||
| Pension fund surplus | 19,753 |
230,764 |
||
| Other income – fee income | 19,947 |
10,602 |
||
| Net Investment income | 225,595 |
202,224 |
||
| – Interest and dividends received | 236,159 |
202,224 |
||
| – Interest paid | (10,564) |
– |
||
| Net fair value losses on assets held at fair value through income | (23,839) |
(18,962) |
||
| Net realised gains on financial assets – available-for-sale | 94,512 |
71,334 |
||
| Income | 3,990,052 |
3,749,541 |
6.4% |
|
| Net insurance claims | 2,595,794 |
2,256,842 |
15.0% |
|
| Gross acquisition expenses | 618,605 |
609,307 |
1.5% |
|
| Administrative and other operating expenses | 349,759 |
447,250 |
(21.8%) |
|
| Investment expenses | 4,734 |
3,594 |
||
Expenses |
3,568,892 |
3,316,993 |
7.6% |
|
| Profit before tax | 421,160 |
432,548 |
(2.6%) |
|
| Income tax expense | 130,128 |
105,666 |
||
| – Current year | 111,554 |
111,218 |
||
| – Prior years under/(over) provision | 18,574 |
(5,552) |
||
| Profit after tax | 291,032 |
326,882 |
||
| Minority interest | 1,172 |
6,302 |
||
| Net profit attributable to members of the Company | 289,860 |
320,580 |
(9.6%) |
|
 |
