michelle

MICHELLE CALITZ

Executive Head: Finance and Public Officer

“Centriq continues to deliver good results for shareholders with a net profit after tax of R49.3m, a 16% increase from F2013.”

Financials

INCOME STATEMENT HIGHLIGHTS (R’000) 31 Dec 2014 31 Dec 2013 31 Dec 2012 31 Dec 2011 31 Dec 2010
GWP 1 952 752 2 044 531 2 265 316 2 246 165 2 140 71
PROMOTER NET INCOME AFTER TAX 49 301 42 553 51 722 27 469 37 013
BALANCE SHEET HIGHLIGHTS (R’000) 31 Dec 2014 31 Dec 2013 31 Dec 2012 31 Dec 2011 31 Dec 2010
TOTAL SHAREHOLDER FUNDS (Including cell-owner capital) 1 176 287 1 038 551 886 786 789 708 733 457
TOTAL ‘PROMOTER’ SHAREHOLDER FUNDS 241 563 217 974 175 421 154 957 127 488
STATUTORY SOLVENCY 31 Dec 2014 31 Dec 2013 31 Dec 2012 31 Dec 2011 31 Dec 2010
CENTRIQ INSURANCE COMPANY LIMITED 55.5% 54.9% 49.3% 31.0% 30.1%
NOVA RISK PARTNERS LIMITED 3881.9% 2433.0% 157.3% 140.5%
CENTRIQ LIFE INSURANCE COMPANY LIMITED (Capital adequacy ratio) 5.82 5.79 4.64 6.04 5.57

F2014 Financial Review

GWP

GWP decreased by 4% in 2014 mainly as result of the unwinding of a alternative risk transfer policy.

PROFITABILITY

Centriq continues to deliver good results for shareholders with a net profit after tax of R49.3m, a 16% increase from F2013.

SOLVENCY

The main short-term insurance trading licence, Centriq Insurance Company Limited, and the life insurance licence, Centriq Life Insurance Company Limited, are both adequately capitalised with solvency and CAR cover ratios well above targeted levels and the statutory minimum requirements.