Slide 1: Additional analyst information FY2024
This pack has been prepared to aid discussion and provide further supplementary information only and has not been subject to an external review or audit
Slide 2: Membership: Customers per entity
CUSTOMERS PER ENTITY Life Policyholders June 2024 December 2023 June 2023 December 2022 June 2022 December 2021 June 2021 December 2020 June 2020 December 2019 June 2019 Individual 449 211 449 300 447 690 449 130 449 020 449 378 448 313 445 813 446 713 452 561 446 475 Invest Invest - DRO 137 503 137
Slide 3: Value of new business at point of sale vs valuation date
VALUE OF NEW BUSINESS AT POINT OF SALE VS VALUATION DATE June 2024 VNB at Point of Sale R million Health and Vitality Life and Invest VitalityHealth VitalityLife Total Acquisition Costs and Initial strain (550) (2 833) (1 560) (1 132) (6 075) Value of In Force 1 653 3 393 2 051 1 074 8 171 Cost of C
Slide 4: EV reconciliation to income statement
EV RECONCILIATION TO INCOME STATEMENT for the year ended 30 June 2024 Cost of Impact on Adjustment to Statement of Embedded Value of required Income Shareholders Changes in Value Earnings In-Force R million Capital Statement Funds Equity Total profit from new business 1 832 6 609 (264) (4 513) - - -
Slide 5: EV build-up per entity
EV BUILD-UP PER ENTITY for the year ended 30 June 2024 Health and Vitality Life and Invest VitalityHealth VitalityLife Other Total R million Value of in-force business at 30 June 2023 25 473 31 636 12 099 10 682 - 79 890 Expected return (in-force business) 3 721 4 457 826 996 - 10 000 Release of pro
Slide 6: Components of assets under insurance contracts and adjustment to shareholders' funds
COMPONENTS OF ASSETS UNDER INSURANCE CONTRACTS AND ADJUSTMENT TO SHAREHOLDERS' FUNDS ON PUBLISHED BASIS R million June 2024 1. Assets under insurance contracts Discovery Life positive liabilities not netted off with negative liabilities: 627 Discovery Life long term reserves in respect of policies w
Slide 7: Reconciliation to the required capital
RECONCILIATION TO THE REQUIRED CAPITAL for the year ended 30 June 2024 Health and Vitality Life and Invest VitalityHealth VitalityLife Total R million Opening - 30 June 2023 1 108 26 011 4 238 10 630 41 987 - Methodology and Basis Changes - (223) (369) 1 684 1 092 - Expected release on in-force at s
Slide 8: Breakdown of Invest assets under administration
BREAKDOWN OF INVEST ASSETS UNDER ADMINISTRATION R million Total December 2021 127 632 June 2022 121 737 December 2022 130 830 June 2023 140 378 December 2023 144 810 June 2024 154 653 8 Invest AUA
Slide 9: Segment information
Segment information IFRS SA SA SA SA SA UK UK ALL OTHER SEGMENT REPORTING IFRS R million HEALTH LIFE INVEST INSURE BANK HEALTH LIFE SEGMENTS TOTAL ADJUSTMEN TOTAL 30 June 2024 Income statement Insurance revenue 435 17 249 4 360 5 737 - 16 474 6 904 698 51 857 - 51 857 - Contracts measured under the
Slide 10: VIF, APE and VNB split between Life and Invest
VIF, APE AND VNB SPLIT BETWEEN LIFE AND INVEST R million June 2024 December 2023 June 2023 December 2022 June 2022 VIF1 Life 24 138 22 859 22 244 23 133 22 059 Invest 11 675 10 429 9 393 9 521 8 505 APE2 Life 804 426 823 463 837 Invest 2 411 1 150 2 142 1 033 2 158 VNB1 Life 225 136 162 169 364 Inve
Slide 11: Group Shareholder Free Cash Movement
Group Shareholder Free Cash Movement R millions FY2024 HY2024 FY2023 HY2023 Cash Generated from In-Force Before Financing and Tax1,2 14 617 7 567 14 425 6 903 New Business2 (6 823) (3 528) (7 243) (3 408) Tax Paid (1 522) (792) (1 839) (1 042) Operating cash flow 6 272 3 247 5 343 2 453 New Initiati
Slide 12: Reconciliation of operating profit to normalised operating profit
Reconciliation of operating profit to normalised operating profit for the year ended 30 June 2024 Group Group Year Year ended ended June 2024 June 2024 R million change Operating profit 11 137 10 308 8% Share of net profits from equity accounted investments 975 525 Impairment of goodwill - 9 Normali
Slide 13: NAV per entity
NAV PER ENTITY for the year ended June 2024 Covered businesses June 2024 NAV before adjustment to shareholder funds Health and Vitality 4 449 Life and Invest 30 000 VitalityHealth 9 184 VitalityLife 4 122 Non-covered business Bank, including DCS intangible asset and goodwill 7 773 Insure 2 060 PAHI
Slide 14: PAHI key metrics (RMB million)
RMB million (except lives) June 2024 June 2023 Change New business PAHI own licence (100%) 3 842 3 428 12% New business PAHI Reinsurance 533 289 84% New business PAHI total (100%) 4 375 3 717 18% Written premium-own licence 16 118 14 318 13% Written premium-reinsurance 6 527 5 314 23% Total written
Slide 15: Strong cash generation
Strong cash generation Cash sources and uses R14.6bn Cash generated fromin-force VitalityLife VitalityHealth| Discovery Life and Discovery Health generated Financing and matching initiatives —— Debt RO.6bn -R6.8bn aunts [EPP Rives | ;R1sbn FRB BBD, anc cividends -R1L6bn Sooten cnvelopmane and ctr EE