1 / 62

ROAD ACCIDENT FUND

ROAD ACCIDENT FUND. Presentation of the RAF 2007 Annual Report to the Portfolio Committee on Transport 17 October 2007. CONTENTS. Highlights Review of operations Performance against objectives Financial statements. HIGHLIGHTS. Net Fuel Levy Income grows 26.3% .

lucasjoseph
Télécharger la présentation

ROAD ACCIDENT FUND

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ROAD ACCIDENT FUND Presentation of the RAF 2007 Annual Report to the Portfolio Committee on Transport 17 October 2007

  2. CONTENTS • Highlights • Review of operations • Performance against objectives • Financial statements

  3. HIGHLIGHTS Net Fuel Levy Income grows 26.3% Claims finalised increase 38.6% Claims backlog drops 23.5% Compensation paid rises 28.5% Cost to compensation ratio improves 8.3% Cash holdings at year-end R2,4 billion

  4. HIGHLIGHTS Despite this … Outstanding claims liability grows11.8% to R23.9 billion Resulting in… Deficit rising 9.8%% to R20.2 billion

  5. ENVIROMENTAL FACTORS ECONOMIC • Economic growth – 5% • Growth in vehicle population – 7.2% (8.5 m vehicles) • Increase in distance travelled – 2.1% (128.1 million vehicle kilometres) • Increase in road fatalities – 8.9% (15 393) • Foreign visitors – 8.5 million (1996) REGULATORY • NO CHANGE RAF Amendment Act remains elusive !

  6. Losing battle ?

  7. ECONOMIC CHOICES Constraints … Poor capital base (Grossly undercapitalised) Fuel levy too low to address the legacy SARS Fuel collection reduces cash receipts by R1 billion Choices… Clearing the backlogvsBuilding reserves/ appropriate capital base

  8. KEY FACTS SouthAfrican vehicle population * Source: Road Traffic Management Corporation

  9. KEY FACTS Vehicle accidents with fatalities in South Africa • Vehicle accidents with fatalities in South Africa * Source: Road Traffic Management Corporation

  10. KEY FACTS Motor vehicle fatalities in South Africa * Source: Road Traffic Management Corporation

  11. KEY FACTS Annual fuel sales for road use in South Africa * Source: Road Traffic Management Corporation

  12. KEY FACTS Claims lodged with the RAF * Source: Road Traffic Management Corporation

  13. REVIEW OF OPERATIONS Revenue

  14. ANNUAL FINANCIAL STATEMENTS Statement of Financial performance (Income Statement)

  15. REVIEW OF OPERATIONS Analysis of Total Income

  16. REVIEW OF OPERATIONS Analysis RAF Fuel levy

  17. REVIEW OF OPERATIONS RAF levy vs other fuel levies

  18. REVIEW OF OPERATIONS RAF levy – diesel rebate

  19. REVIEW OF OPERATIONS RAF Finance income

  20. REVIEW OF OPERATIONS Analysis of Total expenditure

  21. REVIEW OF OPERATIONS Claims Expenditure

  22. REVIEW OF OPERATIONS Number of Claims Outstanding

  23. REVIEW OF OPERATIONS Number of Claims Outstanding

  24. REVIEW OF OPERATIONS Distribution of Claims settlements

  25. REVIEW OF OPERATIONS Number of Claims Outstanding Distribution of claim settlements according to size

  26. REVIEW OF OPERATIONS Composition of Claim payments

  27. REVIEW OF OPERATIONS Composition of Claim payments – Contingency fees

  28. REVIEW OF OPERATIONS Composition of Claims Compensation payments

  29. REVIEW OF OPERATIONS Medical Undertaking Claims

  30. REVIEW OF OPERATIONS Medical Undertaking Claims

  31. REVIEW OF OPERATIONS Claims reported – delay between accident and reporting the claims to the RAF

  32. REVIEW OF OPERATIONS Claims settled – time between accident and final settlement

  33. REVIEW OF OPERATIONS Claims settled – average settlement amounts Average settlement amount per year finalised

  34. REVIEW OF OPERATIONS Claims settled – average settlement amounts Claims greater than R500 000 as % of total finalised claims

  35. REVIEW OF OPERATIONS Large claims – Foreign vs RSA claims

  36. REVIEW OF OPERATIONS RAF staff count

  37. REVIEW OF OPERATIONS RAF staff productivity

  38. REVIEW OF OPERATIONS Cost to Compensation ratio’s

  39. ANNUAL FINANCIAL STATEMENTS Statement of Financial position (Balance Sheet)

  40. REVIEW OF OPERATIONS Solvency and Capitalisation

  41. REVIEW OF OPERATIONS Liquidity

  42. REVIEW OF OPERATIONS Number of reported claims vs Incurred claims

  43. REVIEW OF OPERATIONS Ultimate claims expenditure per accident year

  44. REVIEW OF OPERATIONS Provision for outstanding claims per accident year

  45. REVIEW OF OPERATIONS Provision for medical undertakings

  46. REVIEW OF OPERATIONS Provision for outstanding claims per accident year

  47. RAF Performance against objectives for the 2006/07 Financial Year

  48. RAF Performance against objectives for the 2006/07 Financial Year (continue)

  49. SUSTAINABILITY Employment equity

  50. SUSTAINABILITY Employment equity

More Related