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SANLAM LIFE INSURANCE LIMITED - SLI3 and SLI4 - Availability of the audited annual financial statements for the year ended 31 December 2017

Release Date: 28/03/2018 13:33
Code(s): SLI3 SLI4     PDF:  
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SLI3 and SLI4 - Availability of the audited annual financial statements for the year ended 31 December 2017

(the “Company”)

Bond Code:      SLI3
ISIN:           ZAG000107905

Bond Code:      SLI4
ISIN:           ZAG000138629

31 DECEMBER 2017

Noteholders are hereby advised that the Company’s Audited Annual Financial Statements for the
year ended 31 December 2017 has been released. This document can be viewed or downloaded
on the administrator’s website at

In terms of section 7.6 (c) of the Debt Listings Requirements of the JSE Limited, investors are
advised of the below restatements in the Annual Financial Statements.

Restatement of investment classes

Sanlam Life Insurance Limited through its Bermuda branch, issued life insurance policies that
were backed by an investment policy issued by a 3rd party with the underlying assets being held
in investment funds. These assets were correctly classified as investment funds until 31
December 2015. This investment policy was terminated effective 1 January 2016 and was
replaced by investments in various asset classes. The administration process for the
classification of these assets in the relevant investment asset classes was not amended
appropriately by the end of 31 December 2016, resulting in an incorrect classification on the
statement of financial position with no impact on the statement of comprehensive income. The 31
December 2016 information is accordingly restated for this error.

R million                                                           2016
                                       Previously reported           Adjustments             Restated
Equities                                          176 944                  6 300              183 244
Structured transactions                            13 756                    239               13 995
Investment funds                                  161 050                 (6 539)             154 511

28 March 2018

Debt sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

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