Table of Contents 1 228

2020 INTEGRATED REPORT NAMIBIA

ABOUT OUR INTEGRATED REPORT 4
WHO WE ARE AND WHAT MAKES US DIFFERENT 7
HIGHLIGHTS 14
HUMAN CAPITAL 19
PPS DOING GOOD 25
STRATEGY 29
INNOVATION 35
CHAIRMAN’S STATEMENT 38
CEO’S MESSAGE TO MEMBERS 46
GROUP PERFORMANCE AT A GLANCE 51
PPS Life Insurance 54
PPS Advisory Services and Enablement 57
PPS Investments 60
PPS Short-Term Insurance 65
PPS Healthcare Administrators 68
PPS NAMIBIA 70
MATERIAL MATTERS AND RISK MANAGEMENT 74
ABRIDGED FINANCIAL STATEMENTS 78
PPS Group consolidated statement of financial position 78
PPS Group consolidated statement of profit or loss 79
KEY PERFORMANCE INDICATORS 80
CORPORATE GOVERNANCE 83
ANNUAL FINANCIAL STATEMENTS 111
Statement of responsibility by the Board of Trustees 114
Certificate by the Secretary 115
Statement of responsibility by the Group Chief Executive Officer and Group Chief Financial Officer 116
Independent Auditor’s Report 117
Investment returns and profit allocation to policyholders’ PPS Profit-Share Account 120
Trustees’ Report 122
Audit Committees’ Report 124
Group Social and Ethics Committee’s Report 128
Consolidated Statement of Financial Position 130
Consolidated Statement of Profit or Loss and Other Comprehensive Income 131
Consolidated Statement of Changes in Equity 132
Consolidated Statement of Cash Flows 133
Group Accounting Policies 134
Notes to the Consolidated Financial Statements 150
Action required by members in regard to the 2021 Annual General Meeting 216
Notice to the members of the Annual General Meeting and CVs of Candidates standing for election 217
Form of proxy 225
Administrative information 227

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