The sub frame is broke, you might be able to find someone that can weld it. When I worked at a Dodge dealer we had a guy that welded aluminum frames as part of a recall. Your Porsche dealer might be able to direct you to a collision shop that can weld that.
Looking at your photo again, it’s clear @Cavell and @Nevada_545 have it right . The mounting point on the subframe is broken off.
Having had a look, it does appear it’s the subframe. I know it’s going to be cheaper with some welds, but is this going to be safe? I know not ideal to weld this, but will it be safe?
It depends on the skills of the welder, if it can be welded at all. Not sure I would trust it, personally.
Lemme see… cast aluminum rear suspension subframe (and that is the name of the part) that carries the suspension loads of a heavy car…
NO you should NOT weld it, it will not be as strong as it originally was. It must be replaced and it WILL be expensive… VERY expensive 'cause Por$che. And then the labor to replace it will also be quite high.
Good Luck!
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And we are back to making an insurance claim and having this repaired properly.
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I know 2 people here where I live that makes a living out of welding aluminum and neither of them would weld that for all the gold on this planet. It’s a cast frame and as such probably not pure aluminum and probably also porous which, alone, makes welding a no go solution.
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there are 2 ears so the bolt is in double shear. your pic shows a 1" gap at the break so that means the ear behind the bolt is also out of place. are BOTH ears broke? didnt catch that at first. a crack is 1 thing, a wide gap in crack means something moved for sure. and there are 2 ears so that means something is up
not sure how bright your tech was. he looked at broken part and said the control arm is broke. and did not notice the mounting tabs are broke instead? huh, arm is moved. yep, broken arm
Agree on doubting the tech. For this to break it’d be amazing if no other damage occurred.
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It’s the sub frame that is broke
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Wheel damaged too, appears will have to be a new subframe 
Not sure I will trust a welded one
dont sound like a xmas eve job. unless santa puts his crack team of elves on it
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What labour cost would I be looking at to chance subframe?
Seeing that most of the people here are US based I doubt if anyone can even make a close guess . You will just have to call for estimates and be prepared for more work then that to be done.
The labor guide shows about 7 hours of labor.