Performance As mentioned by the CEO in his report, economic conditions continued to be constrained throughout 2022, which naturally impacted our members. Within this challenging environment – and in alignment with our strategy – we continued to focus on providing personalised advice, assistance and support for our members. Working in partnership with our intermediaries, we continued to make members aware of the distinctive benefits of our mutual model and what the Group has to offer as an integrated financial services provider. Our new Intermediary Enablement Platform, launched during the reporting period, supported these objectives and markedly improved efficiencies as well as our relationships with our intermediaries. We continued to enhance the quality of our service delivery, including key touchpoints at which members interact with us as a Group. We continued to enrich added-value benefits like assistance with practice management through S3 and the PPS Academy. From a marketing perspective, we focused strongly on brand-building and reaching a broader audience of potential members, including students and young professionals. PPS Insurance Company had a remarkably successful year in terms of sales performance, recording the highest inflows and uptake of additional cover with PPS. This was partly due to the stabilisation of claim volumes following increased COVID-19 immunity and partly due to an increase in demand for life products in the postpandemic environment. The dedication and commitment of the life insurance team and our accredited financial advisers also had a significant role to play, as each team member went more than the extra mile to assist existing members and recruit new members. Looking ahead As we look to the future, we are optimistic about our prospects. While we anticipate that economic conditions will remain challenging throughout 2023 – and that emigration will continue to impact the size of the graduate market – PPS Insurance Company is wellpositioned to serve the specific needs of graduate professionals. We will, therefore, continue to focus on attracting new members, cross-solutioning existing members and providing steadfast support for our adviser network. We will continue to enhance and enrich the overall PPS offering of products and services and promote the benefits of the PPS ProfitShare Cross-Holdings Booster. DOWN 21% from 2021 R3.25 billion Gross risk claims UP 7% from 2021 R5.53 billion Gross premium revenue earned UP 10% from 2021 R279.6 million New life risk annual premium income UP 1% from 2021 9 131 Profit-Share millionaires DOWN 19% from 2021 R4.72 billion Total benefits paid to members DOWN 13% from 2021 R1.47 billion Exit payments 31 PPS Group performance at a glance
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