Abridged Income Statement*
for the year ended 31 March 2006
Guardrisk Life Limited
Reg. No. 1999/013922/06
| 2006 | 2005 | R'000 | R'000 | | Gross premium written | 370 040 | 311 565 | | Outward reinsurance premium | (80 485) | (75 244) | | Net premium revenue | 289 555 | 236 321 | | Net policyholder benefits | (161 082) | (143 251) | | Net commission | (30 403) | (10 657) | | Administration expenses | (49 582) | (28 773) | | Net insurance revenue | 48 488 | 53 650 | | Investment income | 104 976 | 66 827 | | Net revenue | 153 464 | 120 467 | | Transfer to policyholder liabilities | (121 315) | (110 728) | | Profit before tax | 32 149 | 9 739 | | Taxation | (10 308) | (4 860) | | Net profit for the year | 21 841 | 4 879 |
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