ECIC IR 2023

Integrated Report 2023

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Our Value Creating Business Model

ECIC Value Creation Process

Key Performance Indicator

Inputs

Outputs

Risks

Outcomes

• Insurance Premium

• Equity: R6,6

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

• Increase in

• ECIC is self funded • ECIC is financially stable • Contributes to growth, development, and transformation

 Revenue: R150

billion (2022:  R6,6 billion)

equity: -8%  (2022: 3%) cost base of  underwriting activities excluding bonuses: R130

million (2022: R196 million) • Underwriting Loss: R1,4 billion (2022: R298 million) • Net Invest- ment

• Total Financial Assets: R10,2 billion (2022: R9,1 billion) • Project up and running after payment of claim • Insurance

• Operating





million (2022: R120 million)

of South African exporters



• Value of

transactions  approved: $509

Income: R278 million (2022: R297 million) R878 million  (2022: R NIL)

• Reduced National Treasury

Portfolio of  R17 billion (R21 billion)

million (2022: $250 million)

• Claims paid:

contingent liability • Increased shareholder value

Financial capital

• Value of



approved

• Number of insurance

transactions within expanded sectoral coverage: $8 million (2022: $64 million) • Retention of staff: 94% (2022: 97%) • Staff efficiency: 16% (2022:  13%) • Culture Entropy Score: 26% (This is the first 



policies: 29 (2022: 31)

• Employee

• Staff

• Insufficient capacity • Insufficiently

• Strategic business

complement:  92 (2022: 86)

costs: R109 million (2022: R103 million)

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

• Graduate trainees

skilled capacity

• Training: R2

million (2022:  R3 million)

included in staff complement: 3 (2022: 3) opportunities  created/ sustained: 4 487 (2022: 3 498)

• Number of insurance



• Job

policies: 29 (2022: 31)

time being measured)

Human capital

YOUR EXPORT RISK PARTNER

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