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SASRIA (SOC) Limited

PRI reporting framework 2019

You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

Sasria SOC Limited is a short-term insurance company. We contribute to the economic sustainability and growth of South Africa by ensuring  the economic continuity of all the people ,entities or businesses that have assets in South Africa through offering them affordable insurance protection against special risks. The perils that Sasria cover are losses arising from the following events:

Any act directed to overthrow the Government (local, provincial, national or tribal authority) by means of fear, violence or terrorism;
Any act directed to bring about damage in order to achieve political, social or economic change, or in protest against any Government or for the purpose of inspiring fear in the public;
Any riot, strike or public disorder (includes civil commotion, labour disturbances or lockouts);
Any attempt to perform any act mentioned above; and
Any act by lawfully established authority in controlling or suppressing any occurrence referred to above.


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

South Africa

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

87 FTE

02.4. Additional information. [Optional]

Sasria Soc Ltd is a state owned company and has one office located in Johannesburg.


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

Sasria Soc Ltd is a state-owned entity which is 100 percent owned by National Treasury.


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/03/2018

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

Assets under management grew from R6.7 billion to R7.6 billion.


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 10-50% 25.7
Fixed income 0 0 10-50% 39.2
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure 0 0 <10% 3.25
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 10-50% 18.9
Money market instruments 0 0 10-50% 12.9
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Private)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

0 Developed Markets
100 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

Sasria Soc Ltd is a short-term insurer governed by the Short-Term Insurance Act 53 of 1998 which states that its underlining assets which make up the total investment portfolio may only be invested locally in South Africa. Therefore, Sasria has no international exposure in its portfolio.

Sasria engages Asset Managers to invest available funds on their behalf. Funds are available for investment provided that sufficient funds are on hand in the current account and the Treasury Deposit account.

Sasria's investment philosophy is centred on an asset-liability matched investment approach based on principles of Solvency 2 which ensures that the underlining assets which the funds are invested into are matched to the duration and rand value of the liabilities at a given point in time. When a suitable asset-liability matched position is achieved, Sasria will optimise returns on the non-liability matching asset within the risk appetite. A significant portion of Saria's portfolio is therefore invested in cash and near cash (short dated bond) instruments.

An Investment committee has been established by the Board of Director. The Committee guides the Board as per the investment policy on the mandate of Asset Managers and make recommendations regarding the investment philosophy of the Company and future investment strategies.

 


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