“ R5. 95 billion in benefits shared.”
PPS RESULTS 2024
PPS Investments demonstrated remarkable growth, despite global political uncertainty and widespread elections. Total assets under management increased by 14.9 % to R96.52 billion, with gross inflows of R9.67 billion. This reflects the business’ s resilience and the strength of its investment processes.
PPS Short-Term Insurance exceeded expectations, with gross written premiums rising by 23 % to
PPS Insurance Namibia delivered impressive results, with operating profit increasing to N $ 62.3 million, up from N $ 49.3 million in 2023. Gross insurance premium revenue rose by 9.7 % to N $ 255.8 million, while total net claims( after reinsurance) increased from N $ 83.3 million to N $ 98.4 million. Members also benefited from strong investment market returns, with allocations to their notional PPS Profit-Share Accounts™ rising from N $ 176.9 million designed to broaden access to mutuality-driven benefits in South Africa. glu targets professionals between the ages of 25 and 55 with a degree, diploma, or a connection to an existing PPS member, allowing them to share in the business’ s annual returns.
“ Our unique model ensures that success is shared, enabling members to safeguard their financial well-being while benefiting from the long-term value generated,” concludes Smit.
“ R5. 95 billion in benefits shared.”
R421.5 million. The business reported a profit before tax of R31.3 million, including the first-ever profit of R6.8 million from its Personal and Commercial Lines division.
PPS Health Professions Indemnity also contributed R24.5 million in profit, recording strong gross written premiums of R146.1 million in its sixth year.
PPS Healthcare Administrators continued its growth trajectory. Trends indicate a rise in elective procedures, increasing claims for non-communicable diseases and mental health treatment – particularly among younger individuals – and a shift towards home-based care as members seek alternatives to extended hospital stays. in 2023 to N $ 201.6 million in 2024. The number of Namibian members with PPS life-risk products increased from 5 444 to 5 718 over the year.
PPS Mutual in Australia, now in its ninth year, continued its strong performance, serving more than 13 000 graduate professionals with annual in-force premiums exceeding A $ 90 million. The business was once again named Best Retail Life Insurer by Adviser Ratings, securing a place in the top two across all categories.
Looking ahead, PPS is preparing to extend mutuality to New Zealand in late 2025, pending regulatory approval. The Group also launched glu in January 2025, an innovative division
Izak Smit
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