2022 AVBOB Integrated Annual Report - FINANCIALS

CHAPTER 8 | FINANCIAL STATEMENTS 110 INTEGRATED ANNUAL REPORT 2022 110 AVBOB MUTUAL ASSURANCE SOCIETY AND ITS SUBSIDIARIES NOTES TO THE SUMMARISED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 (continued) 5. Management of insurance and financial risk (continued) 5.3 Fair value hierarchy • Quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1). • • Level 1. Level 2 Level 3. Total R 000 R 000 R 000 R 000 At 30 June 2022 Assets At fair value through profit or loss Listed fixed-income securities 5 290 595 - - 5 290 595 Listed shares 10 743 293 - - 10 743 293 Non-listed foreign investments - 4 565 150 - 4 565 150 Unlisted investments - 577 674 571 744 1 149 418 Properties - - 579 466 579 466 Investments in subsidiaries - - 515 000 515 000 Total assets 16 033 888 5 142 824 1 666 210 22 842 922 Liabilities Investment contracts with discretionary participation features (DPF) - - 418 374 418 374 Total liabilities - - 418 374 418 374 Restated Restated At 30 June 2021 Assets At fair value through profit or loss Listed fixed-income securities* 4 399 290 - - 4 399 290 Listed shares 9 791 778 - - 9 791 778 Non-listed foreign investments - 4 032 277 - 4 032 277 Unlisted investments - 708 792 480 692 1 189 484 Properties - - 529 889 529 889 Investments in subsidiaries - - 479 000 479 000 Total assets 14 191 068 4 741 069 1 489 581 20 421 718 Liabilities Investment contracts with discretionary participation features (DPF) - - 422 335 422 335 Total liabilities - - 422 335 422 335 The following fair value measurement hierarchy is applied to financial assets and liabilities measured at fair value that are measured in the statements of financial position: Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (Level 3). The difference between assets and liabilities measured at fair value for the Society and Group is property and investment property to the value of R502,2 million (2021: R463,5 million) and Level 2 unlisted investments to the value of R142,9 million (2021: Rnil). The following table presents the Society's assets and liabilities that are measured at fair value: * Refer to note 22 of the notes to the summarised financial statements regarding the restatement of the xx2021 comparatives. Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (that is, as priced) or indirectly (that is, derived from prices) (Level 2).