Investor Presentaiton
Capital and balance sheet
Solvency ratios
Dec
June
SCR ratio (times)
2022
2022
Target
OUTsurance
1.7
1.7
1.25
OUTsurance Life
2.4
3.0
1.5
Your Group
2:4
2.3
1.6-1.9
OHL Group
2:3
2.2
1.6
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Youi is adopting a new target capital range of 1.6 to 1.9
times with an adjustment to the capital framework which is
more responsive to the circumstances that changes the
operational capital requirement.
Youi's balance sheet is managed cautiously to allow for the
uncertainty in the reinsurance structure heading into the
2024 financial year. Reinsurance markets continue to
harden in response to historic natural events and globally
higher reinsurance costs.
The OHL Group holds surplus capital of R1.7 billion for:
•
Planned acquisition of the 5.3% minority stake in Youi
(expected to be complete by end of October 2023 and
subject to regulatory approvals).
Initial capital contribution for OUTsurance Ireland to
support authorisation process.
J-curve and regulatory capital for OUTsurance Ireland will
ultimately be funded through higher earnings retention over
the start-up phase. Temporary debt will be used for the
differential between funding and capital utilisation.
OUTsurance Group Limited
OUT
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