SSP Brochure:Layout 1 - INSETA

ANNEXURE BFINANCIAL SERVICE SECTOR CHARTER TARGETS SET FOR THE INSURANCEINDUSTRYCore component of BEE Indicators Target 2008 Target 2014Section 1: Human resources development1.1 Employment Equity1.1.1 Senior management black people as a % of senior managementblack women as a % of senior management1.1.2 Middle management black people as a % of middle managementblack women as a % of middle management1.1.3 Junior management black people as a % of junior managementblack women as a % of junior management1.2 Skills development1.2.1 Skills spend% of payroll spent p.a. on skills development of blackemployeesMin 20%-25%Min 4%Min 30%Min 10%Min 40%-45%Min 15%1.5%1.2.2 Learnership program learnerships as % of total staff 4.5%Section 2: Procurement and enterprise developmentProcurementProcurement from black influenced companies, &companies rated “D” in terms of a charterProcurement from companies rated “C” in terms of acharterProcurement from black empowered companies, &companies rated “B” in terms of a charterProcurement from black SMEs, black companies, blackwomen-empowered enterprises & companies rated“A” in terms of a charterEnterprise DevelopmentEnterprise development: black influenced companiesTargeted procurement from those companies as apercentage of total procurement - Scored at 50% ofRand spendTargeted procurement from those companies as apercentage of total procurement - Scored at 75% ofRand spendTargeted procurement from those companies as apercentage of total procurement - Scored at 100%of Rand spendTargeted procurement from those companies as apercentage of total procurement - Scored at 125%of Rand spendRand spend - Scored at 50% of Rand spendEnterprise development: black empowered companies Rand spend - Scored at 100% of Rand spendEnterprise development: black SMEs, black companies& black women-empowered enterprisesSection 3 Access to Financial ServicesRand spend - Scored at 125% of Rand spend3.1 Transactions savings products and services Effective access for LSM 1-5 (%) 80%3.2 Bank savings products and services Effective access for LSM 1-5 (%) 80%3.3 Life assurance products and services Effective access for LSM 1-5 (%), & compulsory60%mortgage cover plan3.4 Collective investments products and services Effective access for LSM 1-5 (%) 1%, plus 250, 0003.5 Short term risk insurance products Effective access for LSM 1-5 (%) 6%3.6 Origination Origination of home loans (R)Origination of agriculture loans (R)Origination of black SME loans (R)3.7 Consumer education % of post tax operating profits spend p.a. Min 0.2%tbftbftbf33%of black target33%of black target33%of black targetSection 4: Empowerment Financing4.1 Targeted Investments Institution’s target for Targeted Investment (R)Institution’s annual investment in transformationalinfrastructure (R)Institution’s annual investment in low-income housing (R)Institution’s annual investment in agriculturaldevelopment (R)Institution’s annual investment in black SMEs4.2 BEE transaction financing including JV’s, debt Institution’s target for BEE transaction financing (R)financing, equity investments in BEE companies thatare not black SMEsTbfTbfINSETA Sector Skills Plan - page 46