Investor Presentaiton
OUTsurance Personal
OUTsurance Personal key financial outcomes
R' million
Gross written premium
Net earned premium
Operating profit
Dec 2022
Dec 2021
% change
4 311
4 045
6.6%
4 202
3 957
6.2%
1 078
1 069
0.8%
Claims ratio (%)
52.4%
51.6%
Cost-to-income ratio (%)
20.8%
20.1%
Combined ratio¹ (%)
75.3%
73.6%
1 After profit share distributions paid to FirstRand Limited on HOC arrangement
•
•
Low unit growth in the period. Premium
growth is primarily driven by premium
inflation to offset claims cost pressures.
Excluding the FirstRand Homeowners book
in run-off, gross written and net earned
premium grew by 7.9% and 7.5%
respectively.
The increase in cost-to-income ratio is
attributed to higher acquisition costs
attributed to an increasing mix of new
business originated through the
OUTsurance Broker channel.
Loss ratio is higher because of the
normalisation in motor claims frequency,
high claims inflation and motor theft.
OUTsurance Group Limited
OUT
19View entire presentation