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The JSE-listed retirement fund administrator said it had also made progress in solving legacy issues during the year.
"The group has had to continue to deal with unfortunate historical legacy issues dating back to the mid 1990s," it said in a statement.
The company referred in particular to the improper use of surpluses in various retirement funds.
"Resolving this equitably, we believe, is not only in the best interest of the pensioners concerned, but will also restore the good faith in our organisation."
It said that since year-end it had resolved the liability in the civil claim by the liquidators of the affected funds. It hoped that financial relief would fast find its way to all stakeholders in the surplus apportionment process.
"The settlement amount has been substantially covered through insurance, and the net financial impact to the group after insurance recoveries is not expected to exceed R75m and has been fully provided for."
The group said the prospects for the year ahead were informed by a
level of renewed optimism derived from its sense that while the economic
recovery would be slow and volatile, it would continue to trend positively
and provide growth opportunities in the markets the company served.
- Sapa
