ECIC AR 2024 9TH

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Integrated Report 2024

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Our Value Creating Business Model Table 9: Value creating business model

ECIC Value Creation Process

Key Performance Indicator equity: 28%  (2023: -8%)  of underwriting activities excluding bonuses: R107 • Increase in • Operating cost base

Inputs

Outputs

Risks

Outcomes

• Net Insurance Results / Underwriting

• Equity: R8,5 billion (2023:  R8,5 billion) Assets: R8,5  billion (2023: R10,2 billion) • Project up and running after payment of claim • Insurance Portfolio of  R12 billion (R17 billion) • Total Financial

• Uncertain macro economic outlook • Regulatory / Legislative changes • Recession in the US • SA Credit Downgrade • Competition

• ECIC is self funded • ECIC is

Loss: R1,1  billion (2023: R1,4 billion) Investment  Income: R672 million (2023: R278 million) R2,2 billion  (2023: R878 million)

financially stable

• Contributes to growth, development, and transformation

• Net

million (2023: R130 million)

of South African exporters

• Claims paid:

• Value of

• Reduced National Treasury

transactions  approved: NIL (2023: $509 million)

contingent liability • Increased shareholder value

Financial capital • Number of insurance



• Value of



policies: 18 (2023: 29)

approved

transactions within expanded sectoral coverage: $8,3 million (2023: $8,2 million) staff: 90%  (2023: 94%)

• Employee costs:

• Job

• Insufficient capacity • Insufficiently

• Retention of

• Strategic business

 R 90 207 million (2023: R109 million) R4.5 million  (2023: R2 million)

opportunities  created/ sustained: 661 (2023: 4 487)

objectives met • Quality-rich and performance driven organisational culture • Retention of diverse talent • Work-engaged employees

skilled capacity

• Staff



efficiency: 18% (2023: 16%)

• Training:

• Employee

Engagement  Score: 70% (2022: 67%) Employee engagement is measured every two years)

• Number of insurance policies: 18 (2023: 29) • Staff

Human capital

complement:  98 (2023: 92)  included in staff complement: 11 (2023: 3)

• Graduate trainees

YOUR EXPORT RISK PARTNER

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