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Sunday, June 1, 2008
Group benefits

In the recent release of consolidated annual financial results, the Professional Provident Society Limited (PPS) reported that total assets for the financial year ended 31st December 2007 exceed R12 billion. This was a 13,9% growth from R10,9 billion in 2006. Gross premium income increased from R1,1 billion to R1,3 billion, an increase of 18,6%, and equivalent to an average amount of nearly R10 000 per member.

Members of the PPS inner circle (the policyholders) share in the Group’s operating profits and investment returns each year via the Surplus Rebate Account. In 2007, PPS says it shared R1,3 billion amongst members this way.
Over the last five years, a total of R6,9 billion has been shared as a result of the Group’s performance.
According to Mike Jackson, Chief Executive of PPS, “It’s just another way PPS works towards its vision: to create wealth, and offer peace of mind and financial security for its members.”
With celebrating another year of strong results as well as the launch of a number of new products, PPS continues its path of exceptional performance and drives a solid message of confidence home to its members. “With the launch of new businesses, introduction of new products and completion of a fundamental re-structuring of the business, PPS is intent on sustaining this financial growth path in 2008 and is focussed on delivering service excellence to members,” says Jackson.

Copyright © Insurance Times and Investments® Vol:21.5 1st June, 2008
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