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2021 PPS NAMIBIA INTEGRATED REPORT

About our integrated report 6
Who we are and what makes us different 10
Total benefits paid in 2021 16
Human capital management: our people 22
PPS doing good 30
Strategy 34
Leadership commentary 38
Chairman’s statement 40
CEO’s message to members 48
PPS Group performance at a glance 54
PPS Life Insurance 58
PPS Advisory Services and Enablement 62
PPS Investments 66
PPS Short-Term Insurance 70
PPS Healthcare Administrators 74
PPS Insurance (Namibia) Board 76
Material matters and risk management 82
Abridged Financial Statements 88
PPS Group consolidated statement of financial position 89
PPS Group consolidated statement of profit or loss 90
Key performance indicators 91
Corporate governance report 93
Annual financial statements 122
Statement of responsibility by the Board of Trustees 124
Certificate by the Secretary 125
Statement of responsibility by the Group Chief Executive Officer and Group Chief Financial Officer 126
Independent Auditor’s Report 127
Investment returns and profit allocation to policyholders’ PPS Profit-Share Account 130
Trustees’ Report 132
Audit Committees’ Report 134
Group Social and Ethics Committee’s Report 138
Consolidated Statement of Financial Position 140
Consolidated Statement of Profit or Loss and Other Comprehensive Income 141
Consolidated Statement of Changes in Equity 142
Consolidated Statement of Cash Flows 143
Group Accounting Policies 144
Notes to the Consolidated Financial Statements 160
Action required by members in regard to the 2022 Annual General Meeting 228
Notice to the members of the Annual General Meeting and CVs of Candidates standing for election 229
Form of proxy 241
Administrative information 243

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