​​Principles and Practices of Financial Management

In order to manage discretionary participation business, long-term insurers must use their discretion in managing investments and allocating bonuses.

Directive 147.A.i (LT) issued by the Financial Services Board requires insurers to define, and make publicly availa​​ble, the Principles and Practices of Financial Management (PPFM) that are applied in the management of their discretionary participation funds. It should be noted, however, that a PPFM is neither a comprehensive explanation of the management of the discretionary participation business nor of every matter that may affect a particular policy contract.

 

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Sanlam Life Insurance Limited ("Sanlam Life") has published the following documents covering the PPFM.

Sanlam Developing Markets Ltd has published the following document covering the PPFM. (pdf)

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