Value of new business

for the year ended 31 December 2010
 
R million Note  
2010
2009
Value of new business (at point of sale):
       
Gross value of new business
   
866
797
Sanlam Personal Finance    
428
354
Sanlam Developing Markets    
373
335
Sanlam UK    
14
17
Sanlam Employee Benefits    
51
91
Cost of capital
   
(104)
(108)
Sanlam Personal Finance    
(42)
(34)
Sanlam Developing Markets    
(28)
(45)
Sanlam UK    
(3)
(3)
Sanlam Employee Benefits    
(31)
(26)
Value of new business
   
762
689
Sanlam Personal Finance    
386
320
Sanlam Developing Markets    
345
290
Sanlam UK    
11
14
Sanlam Employee Benefits    
20
65
Value of new business attributable to:        
Shareholders’ fund
2  
666
607
Sanlam Personal Finance    
367
308
Sanlam Developing Markets    
268
220
Sanlam UK    
11
14
Sanlam Employee Benefits    
20
65
Minority shareholders’ interest
   
96
82
Sanlam Personal Finance    
19
12
Sanlam Developing Markets    
77
70
Sanlam UK    
Sanlam Employee Benefits    
 
Value of new business
   
762
689
Geographical analysis:
       
South Africa    
522
484
Africa    
224
186
Other international    
16
19
Value of new business
   
762
689
Analysis of new business profitability:
       
Before minorities:        
Present value of new business premiums
   
27 334
26 365
Sanlam Personal Finance    
17 555
16 573
Sanlam Developing Markets    
6 584
5 711
Sanlam UK    
996
951
Sanlam Employee Benefits    
2 199
3 130
New business margin
   
2,79%
2,61%
Sanlam Personal Finance    
2,20%
1,93%
Sanlam Developing Markets    
5,24%
5,08%
Sanlam UK    
1,10%
1,47%
Sanlam Employee Benefits    
0,91%
2,08%
After minorities:        
Present value of new business premiums
   
25 891
25 102
Sanlam Personal Finance    
17 293
16 269
Sanlam Developing Markets    
5 403
4 752
Sanlam UK    
996
951
Sanlam Employee Benefits    
2 199
3 130
New business margin
   
2,57%
2,42%
Sanlam Personal Finance    
2,12%
1,89%
Sanlam Developing Markets    
4,96%
4,63%
Sanlam UK    
1,10%
1,47%
Sanlam Employee Benefits    
0,91%
2,08%