1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > Commercial Non-Life Insurance Brokers in South Africa

Commercial Non-Life Insurance Brokers in South Africa

  • January 2015
  • -
  • Finaccord
  • -
  • 21 pages

Commercial Non-Life Insurance Brokers in South Africa, plus the BrokerBASE™ and market data file that accompany it, investigate the importance of brokers in the distribution of non-life (short-term) insurance for businesses in South Africa. This study first provides unique data for the size, segmentation and growth of the South African commercial non-life insurance market itself. It then quantifies the share of this market that is intermediated by brokers and, based on extensive primary research of all significant broking entities, it ranks the leading 30 brokers in South Africa according to their revenues from commercial non-life insurance, excluding income from other activities such as personal lines and employee benefits.

Table Of Contents

Commercial Non-Life Insurance Brokers in South Africa
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 3
What is this report about? 3
The focus is uniquely on commercial non-life insurance, excluding other types of business. 3
.and on brokerage, even where intermediaries can act as both agents and brokers. 3
Rationale 3
Methodology 4
Research program 4
Market data analysis 4
Definitions 4
Premiums 4
Abbreviations 4
Exchange rate 4
BrokerBASE 5
Finaccord 5
2.0 MARKET ANALYSIS 7
Introduction 7
Regulatory information 8
Insurance intermediaries are facing important regulatory changes 8
The FIA represents about 13,000 intermediaries 8
Commercial non-life insurance market 9
South Africa's commercial lines market grew quite rapidly between 2010 and 2014… 9
.with commercial property insurance outperforming other segments in this respect 9
Commercial non-life insurance brokers 11
Overview of brokers' presence in the distribution of commercial non-life insurance 11
Brokers are the dominant distribution channel for commercial non-life insurance in South Africa… 11
.although their distribution share has slightly declined since 2010 11
Competitor trends and specialisms 12
The commercial lines broking market consolidated slightly between 2012 and 2014 12
Aon and Marsh enjoy a comfortable lead over the third-ranked broker by revenues 12
Indwe Risk Services serves a total of around 120,000 personal and commercial clients 13
Several major brokers are owned by banks 13
PSG Konsult and firstEquity Risk management have both grown substantially in recent years 14
Commercial non-life insurance offers the most important revenue stream for most brokers… 15
. even if several are also very active in the distribution of personal insurance products 15
Brokers' distribution strategies 18
A handful of leading brokers specialise by product or client sector… 18
… but none by region or client size 18
GIB Insurance Brokers belongs to three international broker networks 18
Future outlook 20
In nominal terms, commercial lines broking revenues are predicted to continue growing strongly… 20
… although the increase will be less enticing when viewed in real terms… 20
… and it is possible that regulatory intervention could impact the market in future 20

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY 1
Key market data for commercial non-life insurance brokers in South Africa 2
1.0 INTRODUCTION 3
2.0 MARKET ANALYSIS 7
Segmentation of the commercial non-life insurance market in South Africa, 2014 9
Growth in the commercial non-life insurance market in South Africa by segment, 2010 to 2014 10
Size and growth of the commercial non-life insurance market in South Africa by segment, 2010 to 2014
(table) 10
Brokers' share of the commercial non-life insurance market and revenues earned from it in South Africa,
2010 and 2014 11
Brokers' share of the commercial non-life insurance market and revenues earned from it in South Africa,
2010 and 2014 (table) 12
Market concentration for commercial non-life insurance broking in South Africa, 2012 and 2014 13
Market shares of commercial non-life insurance broking revenues of the top ten brokers in South Africa,
2014 14
Importance of different types of insurance broking for the top 30 commercial non-life insurance brokers in
South Africa 16
Importance of different types of insurance broking for the top 30 commercial non-life insurance brokers in
South Africa (continued) 17
Partners of broker networks in South Africa, 2014 19
Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in South
Africa, 2018 21
Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in South
Africa, 2018 (table) 21

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
UK Personal Insurance Distribution: Banks and Retailers

UK Personal Insurance Distribution: Banks and Retailers

  • $ 3 450
  • Industry report
  • June 2016
  • by Verdict Financial

Summary An affinity scheme is a partnership in which an insurer underwrites insurance to be distributed via another company whose primary product or service is not insurance. This includes banks and retailers ...

Insurance Competitor Profile: Sainsbury%s

Insurance Competitor Profile: Sainsbury%s

  • $ 2 795
  • Industry report
  • March 2016
  • by Verdict Financial

Summary Sainsbury's is a retailing giant and the UK's second-largest supermarket brand. As with rival Tesco, Sainsbury's Bank spread its wings into the financial services industry in the 1990s and is now ...

Global Travel Insurance Market 2016-2020

Global Travel Insurance Market 2016-2020

  • $ 2 500
  • Industry report
  • June 2016
  • by Infiniti Research Limited

About the Travel Insurance Market Travel insurance covers the expense, such as trip cancellation, cancellation due to the medical emergency, resulting from unexpected events during domestic and international ...


Download Unlimited Documents from Trusted Public Sources

Life Insurance Statistics in Asia and China

  • July 2016
    60 pages
  • Life Insurance  

    Insurance  

  • China  

    Asia  

    Thailand  

View report >

Insurance Industry in Bangladesh

  • July 2016
    43 pages
  • Insurance  

  • Bangladesh  

View report >

Insurance Industry in the US

  • June 2016
    79 pages
  • Insurance  

    Automotive  

  • United States  

View report >

Related Market Segments :

General Insurance

ref:plp2015

Reportlinker.com © Copyright 2016. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.