2019 Integrated Report

ABOUT OUR INTEGRATED REPORT 4
WHO WE ARE AND WHAT MAKES US DIFFERENT 6
The PPS story 7
Meeting the financial needs of professionals 9
Financial planning and advice 9
Sickness cover and life insurance 10
Savings and investments 10
Short-term insurance 10
Health Professions Indemnity 11
Medical aid 11
Wills and estates 11
HUMAN CAPITAL 12
PPS DOING GOOD 18
OUR STRATEGY 20
INNOVATIVE SOLUTIONS 23
HIGHLIGHTS 24
CHAIRMAN’S STATEMENT 26
CEO’S MESSAGE TO MEMBERS 32
GROUP PERFORMANCE AT A GLANCE 37
PPS Life Insurance 40
PPS Advisory Services 42
PPS Investments 44
PPS Short-Term Insurance 46
PPS Healthcare Administrators 48
PPS NAMIBIA 50
MATERIAL MATTERS AND RISK MANAGEMENT 52
ABRIDGED FINANCIAL STATEMENTS 56
PPS Group consolidated statement of financial position 56
PPS Group consolidated statement of profit or loss 57
KEY PERFORMANCE INDICATORS 58
CORPORATE GOVERNANCE 59
2019 ANNUAL FINANCIAL STATEMENTS 86
Statement of Responsibility by the Board of Trustees 88
Certificate by the Secretary 89
Independent Auditor’s Report 90
Investment Returns and Profit Allocation to Policyholders’ PPS Profit-Share Account 93
Trustees’ Report 96
Audit Committees’ Report 99
Group Social and Ethics Committee’s Report 103
Consolidated Statement of Financial Position 105
Consolidated Statement of Profit or Loss and Other Comprehensive Income 106
Consolidated Statement of Changes in Equity 107
Consolidated Statement of Cash Flows 108
Group Accounting Policies 109
Notes to the Consolidated Financial Statements 124
Administrative Information 190
Action Required by Members in Regard to the 2020 Annual General Meeting 191
Notice to the Members of the Annual General Meeting and CV’s of Candidates Standing for Election 192
Form of Proxy 207

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