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There has been an exodus of SA s skilled workers
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Elefantenversteigerung durch Populationsübermaß gerechtfertigt - Natur & Umwelt
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König der Tiere gerät im Nordwesten Namibias in Bedrängnis - Natur & Umwelt
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PPS, which exclusively caters to professionals, says 2020 confirmed the purpose of its existence.
Its niche market not only proved resilient to the pandemic, but the company made more profit-sharing millionaires.
PPS is the only mutual financial services company in SA, and it returned R2.2 billion to its policyholders in 2020.
With a global pandemic in place, displacing people from their jobs and sinking any businesses, the year 2020 proved to be a tough one for many insurers and other financial services firms, but not so much for the insurer that caters exclusively for professionals, Professional Provident Society (PPS).
The company, which published its 2020 integrated report on Wednesday, still grew its gross life insurance gross premiums by 7% to R5.12 billion. PPS Investments recorded gross new investment flows of R7.5 billion, a 22% increase from 2019.
PPS resilient through tumultuous 2020
By Edward West
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CAPE TOWN - PROFESSIONAL Provident Society (PPS), which provides financial solutions to more than 150 000 graduate professionals, reported a resilient performance through a tumultuous 2020, a year where claims rose through the pandemic.
PPS focused on delivering its core purpose of paying valid claims, after the number of claims picked up significantly due to the pandemic, and protecting its members’ financial health, said group chief executive Izak Smit in an interview by phone.
“We entered 2020 with solid capital reserves and with good momentum.
This meant that we could act swiftly to put relief measures in place, pay claims reliably, secure our adviser network and maintain our full staff complement throughout the lockdown,” he said yesterday.