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The South African Insurance Industry Survey 2016 | 129

LONG TERM INSURERS | Statement of Comprehensive Income | R’000 (continued)

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
Centriq Life Insurance Clientele Life Guardrisk Life Limited Hollard Life Assurance Liberty Group Limited
Company Limited Limited Company Limited

FSB classification Cell captive Traditional Cell captive Traditional Traditional
Change in policyholder liabilities under insurance 3 707 000 15 187 000
contracts 7 149 5 745 (5878) (41 396) 49 502 (66 975) (1 638 360) 432 854
Fair value adjustments on policyholder liabilities
under investment contracts (138) 886 72 275 49 184 - - - - 6 052 000 7 382 000
Acquisition costs
Administration, management and other 6 582 4 776 689 445 658 926 - - 430 028 516 539 3 994 000 3 992 000
expenses 3 365 4 033 152 372 144 173 916 282 537 404 1 702 218 1 630 360 8 256 000 7 237 000
Total expenses
Profit/(loss) before tax 22 871 20 243 1 184 119 1 098 194 1 382 562 756 902 3 744 976 4 697 246 53 806 000 64 479 000
Tax 7 533 5 364 430 664 384 655 56 215 34 124 1 468 715 1 580 679 5 812 000 4 799 000
Profit/(loss) after tax 2 263 426 119 438 95 476 15 693 9 869 1 834 000 1 780 000
Other comprehensive income 5 270 4 938 311 226 289 179 40 522 24 255 392 630 424 449 3 978 000 3 019 000
Total comprehensive income/(loss) for the - - - - - - 1 076 085 1 156 230 (123 000) (72 000)
year 5 270 4 938 311 226 289 179 40 522 24 255 3 855 000 2 947 000
Other transfers to/(from) retained income - -
Other comprehensive income not charged 1 076 085 1 156 230
against retained earnings
Ordinary dividends - - (18 729) (13 724) - - 9 612 9 303 (16 000) 17 000
Allocated to preference shareholders
Change in retained earnings - - - - - - - - (56 000) 80 000
Management expenses to net premium and
service fees on investment contracts 5 000 1 288 219 662 213 069 6 000 40 292 855 254 885 347 2 250 000 1 290 000
Tax as a % of NIBT - - - - - - - - - -
Comments
270 3 650 72 835 62 386 34 522 (16 037) 230 443 280 186 1 533 000 1 754 000
24% 34% 12% 13% 93% 92% 39% 30% 23% 18%

30% 8% 28% 25% 28% 29% 27% 27% 32% 37%
Company Company Company Company Company Company Company Company Company Company