
THE SOUTH AFRICAN INSURANCE ASSOCIATION. Barry Scott Chief Executive. Agenda. What is the SAIA Charters in general Financial Sector Charter Questions / discussion. SAIA – WHO AND WHAT WE ARE.
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SAIA is the umbrella body for the short-term insurance industry, which promotes and creates an awareness and understanding of the industry.
54 members
Mr Ronald Napier (Chairman)Lloyd’s South Africa
Mr Nick Beyers (Deputy Chairman)S A Eagle
Mr Bruce Campbell Mutual and Federal
Mr Paolo Cavalieri Hollard
Mr Steffen Gilbert Santam
Mr Rob Gordon AIG
Mr Andreas Kleiner Munich Re
Ms Margaret Louw Compass
Mr Willem Roos OUTsurance
Mr Adam Samie Lion of Africa
Mr Herman Schoeman Guardrisk
Ms Denise Shaw Stanbic Insurance
Ms C Silverman Gerling General Insurance
Mr Mike Strydom SASRIA
Mr Mike Truter Credit Guarantee
Mr Alexander Weissleder Swiss Re Africa Ltd
1994
1995
1998
1999
2000
2001
2002
1996 – 1997
1998 – 2000
2001
2002
2003
Substantial / significant
Increase in
Ownership & control
Number of enterprises
Senior/executive managers
Income levels
Broad based community ownership
Accelerated economic growth
Key principles
BEE broad based
Inclusive & apply to all
sectors of economy
Compliance with good governance & ethics
Part of growth strategy
Government BEE strategyInitiated 2000
25% BEE ownership of aggregate value
All facets of industry
Covers EE, capacity building, procurement, JV’s, exploration & finance
Mining
Agreed 2002
26% BEE ownership by 2012, 15% by 2007
Covers EE, capacity building, procurement, beneficiation, CSI & rural development, management & ownership
Charters unpacked“…promoting a transformed, vibrant and globally competitive sector that reflects the demographics of SA, and contributes to the establishment of an equitable society by effectively providing accessible financial services to black people and by directing investment into targeted areas in the economy”
2008 Employment Equity targets
Black women targets (including exec level) to be reviewed in 2007 but aim for 33% of black targets in all categories
Enable genuine participation in the holding and strategic direction of the Sector
Target –
- 0.5% p.a. of post tax operating profits
Ensuring a result-orientated and effective implementation