1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends

Life Insurance including Reinsurance in South Africa 2015

  • December 2015
  • 144 pages
  • Who Owns Whom
Report ID: 3630062

Summary

Table of Contents

Search Inside

Life Insurance Sector: This report focuses on the latest developments in South Africa’s life insurance sector, which is the largest life insurance market on the African continent and in US dollar terms is the 15th-largest life insurance market in the world. With benefit payments of R366.8bn and assets of R2.3-trillion in the 12 months ended 30 June 2015, the 73 companies active in the long-term insurance industry are the custodians of a sizeable portion of South Africa’s long-term savings pool. Total net life reassurance premiums of over R8bn at the end of December 2014 were reported by the seven life reassurance companies in operation.


Current Conditions: If premiums are measured as a percentage of the nation’s GDP, the country has one of the highest levels of life insurance penetration in the world. However, recent statistics reveal that 40% of the country’s adult population do not have any form of formal life insurance. This is in sharp contrast to the funeral policy category which accounts for almost 90% of all risk cover sold and emphasises the need for the development of affordable life insurance products for low-income earners. Analysts caution that if South Africa’s life insurance industry is to remain sustainable in the long-term, the socio-economic context in which it operates needs to be overhauled. In the meantime, the potential for growth in sub-Saharan African markets has resulted in brisk merger and acquisition activity by South Africa’s major life insurance companies.



Report Coverage:
The report on the highly competitive South African Life Insurance sector describes the current market, Government’s proposed regulations regarding credit life insurance and discusses factors influencing the success of the sector. The report profiles 44 companies, including the “Big Four”, Old Mutual Life, MMI Holdings, Sanlam and the Liberty Group. Also profiled are all seven reassurance companies active in the country and the leading direct life insurance company, Clientèle Life Assurance Company Ltd.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Telecom Service Assurance Market by Software, Service, Organization Size, Deployment Type - Global Forecast to 2021

  • $ 7150
  • Industry report
  • March 2017
  • by MarketsandMarkets

Factors such as voluminous increase in the number of subscribers, need for high optimization & increased cost savings, and ability to measure the performance of a service & Quality of Service are driving ...

IoT Insurance Market by Type, Application, and Geography - Global Forecast to 2022

  • $ 5650
  • Industry report
  • January 2017
  • by MarketsandMarkets

“IoT insurance market to grow at a CAGR of 65.89% between 2016 and 2022” The global IoT insurance market is estimated to be worth USD 42.76 billion by 2022, growing at a CAGR of 65.89% between 2016 ...

UK Commercial Insurance Distribution 2017

  • $ 5250
  • Industry report
  • May 2017
  • by GlobalData

UK Commercial Insurance Distribution 2017 Summary "UK Commercial Insurance Distribution 2017", report provides an in-depth study into the trends of commercial insurance distribution. The report discusses ...

Uk Cyber Insurance 2017

March 2017 $ 3450

ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

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