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REINSURERS | Statement of Comprehensive Income | R’000 The South African Insurance Industry Survey 2016 | 149
Accounting year end Dec-15 Dec-14 AND THE ONLY WAY TO BE
Group/Company TRULY STATISFIED IS TO DO
Scor Africa WHAT YOU BELIEVE IS GREAT
Limited WORK. AND THE ONLY WAY
TO DO GREAT WORK IS TO
Gross premiums written 1 114 111 944 370 LOVE WHAT YOU DO.
Net premiums written 407 092 378 345
Earned premiums 406 340 363 845 Steve Jobs
Total net investment income 39 441 19 621
Reinsurance commission revenue 157 134 154 084
Other income
Total income 19 320 7 343
622 235 544 893
Policyholder benefits and entitlements 345 144 224 136
Acquisition expense
Management and other expenses 250 989 252 856
Total expenses
Net profit/(loss) before tax 48 957 42 914
Tax
Net profit/(loss) after tax 645 090 519 906
Other comprehensive income/(loss)
Total comprehensive income/(loss) for the year (22 855) 24 987
Transfer to/(from) retained earnings
Dividends (6 516) 5 754
Change in retained earnings
Net premiums to gross premiums (16 339) 19 233
Policyholder benefits and entitlements to earned premium
Management and other expenses to earned premium (21 207) (2 205)
Comments
(37 546) 17 028
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(16 339) 19 233
37% 40%
85% 62%
12% 12%
Composite company
