Financial results Value of new business per segment Dec Dec Dec 1 year 2014 2014 2015 change Rebased Rm Rm Rm Momentum Retail 127 104 126 21% Metropolitan Retail 107 67 68 1% Corporate and Public Sector 160 159 137 (14)% International 27 16 30 88% Total 421 346 361 4% New business margin (PVP) 1.77% 1.45% 1.32% Increased discount rate reduced overall margin