SAFA functions as the central financing authority, captive insurer and manager of the passenger and light commercial vehicle fleet operations for the Government of South Australia.
It plays an integral role in the overall management of the State’s finances and risks, harnessing economies of scale and relevant expertise to provide a range of treasury, insurance and fleet services to public sector clients. SAFA’s current Strategic and Business Plan sets the organisation’s strategic direction and guides daily operations.
Treasury services provided by SAFA include raising funds from domestic and international financial markets and on-lending the proceeds to clients, as well as providing clients with investment, portfolio management and financial and risk advisory services.
Insurance services are provided to clients through SAFA’s insurance division which uses the trading name SAICORP. Insurance services include the provision of across government catastrophe reinsurance, claims management, insurance cover and building indemnity insurance.
Vehicle fleet services are provided to clients through SAFA’s fleet division which uses the trading name Fleet SA. Services provided by Fleet SA include policy advice, vehicle leasing and disposal, short-term hire, and accident management.
In addition to these roles, SAFA is also responsible for corporate governance, transaction management and support services for the electricity entities; administration on behalf of the Treasurer of contracts associated with a number of industry assistance schemes; and administration on behalf of the Treasurer for the State’s Public Private Partnership program.