SPONSORED | New business flows are a barometer of the health of a financial services business. On both the life insurance side and in our investments business, new inflows were strong in what was a flat market, says PPS_SA Group CEO.
PPS has world-leading low lapse rates, where our members’ policies stay on our books for a generation or more on average, says the group's CEO.providing a diverse range of financial solutions for graduate professionals in SA, Namibia and Australia — experienced a positive financial year in 2022, supporting members and returning value to them.
The number of Covid-19-related sickness claims remained stubbornly high, though reducing by 34% to about 7,700 in 2022 compared to 10,900 in 2021. Covid-19-related death claims dropped significantly to only R39m in 2022 from R975m in 2021. This reduced total death claims by 52% to R957m in 2022 from R2bn in 2021.New business flows are a barometer of the health of a financial services business.
Though claims attributable to Covid-19 declined, which supported underwriting profit, the investment markets substantially affected Profit-Share. Therefore, in 2022, PPS allocated R619m to members with qualifying products’ PPS Profit-Share Accounts compared to R5.5bn in 2021. “While 2021 was a strong year in the investment markets and our funds performed exceptionally well, we cautioned our members against exuberant future expectations.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PPS reports a positive year-end performance as Covid claims subsidePPS reports a positive year-end performance as Covid claims subside: SPONSORED | Highlights from the Professional Provident Society's 2022 financial results
Read more »
PPS reports a positive year-end performance as Covid claims subsideSPONSORED | Highlights from the Professional Provident Society's 2022 financial results.
Read more »
Sponsored Content: Xiaomi’s speakers, alarms, and lighting are key elements of SA’s smart homesWhen people venture into real estate, their primary concerns are comfort and security, and establishing a lifestyle. And although real estate and lifestyle have always been interlinked, today the influence of technology on enhancing lifestyles has never been greater.
Read more »
Sponsored Content: Previously unbanked Africa is leading digital financial advancement in emerging marketsAfrica’s status as an “unbanked” region has undergone a profound transformation in recent years and it is now a leading light in the digital financial revolution, helping the continent to overcome one of its key obstacles to economic development.
Read more »
REGISTER | 2023 Directors Event: what sustainability means for SA companiesSPONSORED | This year’s Directors Event will touch on how business can better deliver social impact for the country — social impact means business for SA. ArenaEventsZA
Read more »