2007/2008: A Forest is not grown in a season

The Assupol Life Group of Companies has delivered pleasing results in the past year. "We are proud of a decent set of results, despite the challenging environment in which they were produced", says Gert Wessels, CEO of Assupol Life.

The results are, in summary:

Group assets:	Increased by 5.9% to R2.146 billion
Embedded value:	Increased by 33.1%
Group operating profit:	Decreased to R137 million
Net group insurance premiums:	Increased by 12.6%
Total group income:	Decreased by 13.7%

"The operating profit was affected by the weaker returns on financial assets, compared to the previous year. But growth remains strong by most standards, even with the drop in annual growth pace", says Gert Wessels. "Celebrating our 95th birthday in 2009 proves that we are a truly seasoned company."

Just as a forest is an example of long term growth, so Assupol Life celebrates 95 years of growing and reaching its goals. The seeds sown in 1913 by a handful of people have flourished into a forest. We also see each policy as a sapling that will eventually grow into financial liberation for the policy holder.

Growth rings in trees reflect both good and bad years. We echo this pattern by controlling expenses and nurturing favourable conditions to drive more aggressive growth throughout. The interim year-to-date results indicate a premium growth of 11% and new business volumes growing by 31%.

Managing expenses effectively has led to a marginal decrease in group income, despite increasing pressures.

With a proud tradition of superior client value, Assupol Life has laid down firm roots in the South African market. These roots will remain steadfast in an environment where it has become increasingly important to provide for the impact of life-changing events.

We will continue growing our forest of wealth and empowering our policy holders to gain financial freedom.