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The South African Insurance Industry Survey 2016 | 131

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

Accounting Year end Jun-15 Jun-14 Jun-15 Jun-14 Jun-15 Jun-14 Jun-15 Jun-14 Dec-15 Dec-14
Group/Company
Metropolitan Life Metropolitan Odyssey Momentum Ability MMI Group Limited Nedgroup Life Assurance
International Limited Limited Limited Company Limited

FSB classification Traditional Traditional Traditional Traditional Traditional
Change in policyholder liabilities under insurance
contracts - - (2 657) (37 778) (25 240) 254 444 (586 000) 7 276 000 (553 229) 849 913
Fair value adjustments on policyholder liabilities
under investment contracts 13 167 14 419 - (250) 42 586 107 113 15 579 000 32 221 000 66 063 63 184
Acquisition costs
Administration, management and other --- - - - 3 101 000 2 970 000 355 889 433 354
expenses 996 2 155 1 106
Total expenses 964 156 384 122 380 5 827 000 5 441 000 281 326 292 695
Profit/(loss) before tax
Tax 14 163 16 574 4 269 4 555 262 431 299 238 43 739 000 67 204 000 1 038 459 2 647 436
Profit/(loss) after tax 6 822 4 531 11 039 19 402 57 252 52 332 4 533 000 5 063 000 1 011 808 1 078 360
Other comprehensive income 2 002 2 042 10 662 15 877 14 628 1 323 000 1 820 000
Total comprehensive income/(loss) for the 4 820 2 489 9 420 41 375 37 704 3 210 000 3 243 000 282 665 301 821
year - - 377 9 982 - - 794 000 201 000 729 143 776 539
Other transfers to/(from) retained income 4 820 2 489 - 41 375 37 704 4 004 000 3 444 000
Other comprehensive income not charged - - -
against retained earnings 377 9 982 729 143 776 539
Ordinary dividends
Allocated to preference shareholders - - - - - - 14 000 301 000 - -
Change in retained earnings
Management expenses to net premium and - - - - - - (794 000) (200 000) - -
service fees on investment contracts
Tax as a % of NIBT 30 000 20 000 - - 40 000 54 284 3 549 000 3 200 000 420 000 420 000
Comments - -
- - - - 31 000 28 000 - -
(25 180) (17 511)
233% 84% 377 9 982 1 375 (16 580) (356 000) 317 000 309 143 356 539

N/A N/A 75% 58% 28% 28% 16% 9%

29% 45% 97% 49% 28% 28% 29% 36% 28% 28%
Company Company Company Company Company Company Company Company Company Company