Page 130 - MC14326 all pages

126 | The South African Insurance Industry Survey 2016

LONG TERM INSURERS | Statement of Comprehensive Income | R’000

Accounting Year end Jun-15 Jun-14 Dec-15 Dec-14 Nov-15 Nov-14 Jun-15 Jun-14 Jun-15 Jun-14
Group/Company
1Life Direct Insurance Absa Life Limited AIG Life Limited AVBOB Mutual Assurance Bidvest Life Limited
Limited Society

FSB classification Traditional Traditional Traditional Traditional Traditional
Recurring premiums 2 944 764 2 696 693 49 382
Single premiums no split no split no split no split 2 298 817 1 968 042 48 319
Other premiums provided provided -- provided provided - 71
-- 2 654 2 274 - -
Reinsurance premiums (total is (total is (total is (total is
Net premium income R860 597) R604 967) R615 355) R657 283) --
Service fees from investment contracts
Total net investment income 125 990 122 327 503 078 460 308 30 009 29 559 (1 919) (2 175) (4 675) (6 682)
Commission received 2 441 686 2 236 385 2 299 552 1 968 141 44 707 41 708
Other unallocated income 734 606 482 639 585 346 627 724
Total income 77 432 62 919 - - - -
Death/disability -- 786 728 1 379 796 -- 1 035 466 1 807 812 23 598 64 978
Maturities
Annuities 12 975 9 940 - - 23 397 28 809 - - 1 498 1 833
Surrenders - - 422 1 074 - -
Withdrawals and other benefits 1 996 8 777 3 305 846 3 679 100 -- 3 335 440 3 777 027
Reinsurance recoveries 713 031 605 452 520 027 416 155 69 803 108 519
Net policyholder benefits under insurance 14 477 16 845 36 613 26 985 -- 629 6 704 8 229
contracts - - 786 - -
Change in preference share liability 764 054 518 201 169 077 184 563 608 743 656 533 - - - -
Change in assets arising from insurance 54 599 23 694 174 220 - -
contracts no split no split (172 645) (138 028) 234 361 210 672 110 814 161 215 - -
provided provided 800 675 702 666 89 144 (556) (492)
-- (798) (488) 6 149 7 737
(total is (total is 804 892
R317 835) R191 262) 1 635 3 103 666 812

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(92 632) (62 399) (6 627) (8 967)
225 203 128 863
229 370 204 808
- -
(137 068) (171 896) -- ---- --
-- ---- --