Investor Presentaiton
OUTsurance
OUTsurance key financial outcomes
R' million
Dec 2022
Dec 2021
% change
•
Claims frequency on motor claims
Gross written premium
5 505
5 064
8.7%
Net earned premium
5 361
4 935
8.6%
Operating profit
1 121
991
13.1%
OUTsurance Personal¹
1 078
1 069
OUTsurance Business
128
14
0.8%
>100%
Central costs
(85)
(92)
7.6%
Investment income
247
338
(26.9%)
Headline earnings
951
937
1.5%
Claims ratio (%)
53.4%
53.9%
normalised relative to a lower base in the
comparative half when pandemic related
lockdowns were still in force.
More extensive loadshedding (blackouts)
related claims and increasing incidents of
vehicle theft were contributors to the
increasing claims cost.
The cost-to-income ratio benefitted from
the higher premium growth, economies of
scale in the OUTsurance Brokers channel
and cost containment.
Cost-to-income ratio (%)
24.8%
25.2%
Combined ratio (%)1
80.0%
80.6%
1 After profit share distribution paid to FirstRand Limited on HOC arrangement
OUTsurance Group Limited
OUT
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