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Consolidated Abridged Income Statement for the year ended 31 March 2004
| 2004 | 2003 | Rm | Rm | | Premium written | 1,833 | 1,610 | | Premium Refunds | (102) | (202) | | Gross premium written | 1,731 | 1,408 | | Outward reinsurance premiums | (648) | (522) | | Net premium written | 1,083 | 886 | | Unearned premium | (149) | (193) | | Net earned premium | 934 | 693 | | Net benefits to policyholders | (794) | (546) | | Expenses | (168) | (125) | | Underwriting (loss)/profit | (28) | 22 | | Net investment income | 162 | 124 | | Profit before taxation | 134 | 146 | | Taxation | (30) | (36) | | Net profit for the year | 104 | 110 |
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