Page 139 - MC14326 all pages

The South African Insurance Industry Survey 2016 | 135

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

Accounting Year end Dec-15 Dec-14 Jun-15 Jun-14 Dec-15 Dec-14
Group/Company
Professional Provident Regent Life Assurance Sanlam Life Insurance
FSB classification Society Insurance Company Limited Limited
Change in policyholder liabilities under insurance Company Limited
contracts
Fair value adjustments on policyholder liabilities Traditional Traditional Traditional
under investment contracts 5 000 000 16 464 000
Acquisition costs 1 728 244 2 255 497 (36 646) 26 402
Administration, management and other
expenses 2 105 976 2 519 441 10 292 26 488 18 244 000 18 353 000
Total expenses
Profit/(loss) before tax - - 169 894 181 217 1 599 000 1 413 000
Tax 1 084 073 829 975 180 796 162 338 4 870 000 4 460 000
Profit/(loss) after tax
Other comprehensive income 4 865 794 4 789 500 575 133 644 832 33 193 000 44 168 000
Total comprehensive income/(loss) for the 377 732 263 944 279 412 190 584 11 545 000 13 929 000
year 332 562 242 864
Other transfers to/(from) retained income 45 170 21 080 63 298 45 859 1 731 000 1 327 000
Other comprehensive income not charged 1 374 1 548 216 114 144 725 9 814 000 12 602 000
against retained earnings 46 544 22 628
Ordinary dividends - - - 144 000
Allocated to preference shareholders 216 114 144 725 9 814 000 12 746 000
Change in retained earnings
Management expenses to net premium and - - (29 546) (20 051) - -
service fees on investment contracts ------
Tax as a % of NIBT
Comments - - 71 826 98 198 - 3 950 000
- - - - - -
45 170 22 628 9 814 000
38% 32% 114 742 26 476 38% 8 796 000
27% 26% 48%

88% 92% 23% 24% 15% 10%
Company Company Company Company Company Company