michelle

MICHELLE CALITZ

Executive Head: Finance

“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 2015 31 Dec 2014 31 Dec 2013 31 Dec 2012 31 Dec 2011 31 Dec 2010
GWP 2 254 137 1 952 752 2 044 531 2 265 316 2 246 165 2 140 71
PROMOTER NET INCOME AFTER TAX 49 060 49 301 42 553 51 722 27 469 37 013
BALANCE SHEET HIGHLIGHTS (R’000) 31 Dec 2015 31 Dec 2014 31 Dec 2013 31 Dec 2012 31 Dec 2011 31 Dec 2010
TOTAL SHAREHOLDER FUNDS (Including cell-owner capital) 1 226 905 1 176 287 1 038 551 886 786 789 708 733 457
TOTAL ‘PROMOTER’ SHAREHOLDER FUNDS 216 195 241 563 217 974 175 421 154 957 127 488
STATUTORY SOLVENCY 31 Dec 2015 31 Dec 2014 31 Dec 2013 31 Dec 2012 31 Dec 2011 31 Dec 2010
CENTRIQ INSURANCE COMPANY LIMITED 60.8% 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) 6.02 5.82 5.79 4.64 6.04 5.57

F2015 Financial Review

GWP

GWP increased by 15% in 2015 mainly as result of growth in the alternative risk transfer and UMA space due to new business gains.

Centriq continues to deliver good results for shareholders with a net profit after tax of R49.1m, marginally down from prior year.

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.