South Africa Insurance Industry Analysis (2006-2009)

Published by: RNCOS

Published: Oct. 1, 2006 - 55 Pages

Table of Contents

1. Analyst View

2. Research Overview

3. Industry Overview

3.1 Global

3.1.1 South Africa as a Percentage of Global Insurance Market

3.2 Global Insurance Industry Forecast (2006-2009)

4. Industry Performance

4.1 Overview

4.2 Segmentation by Product

4.2.1 South Africa Life Insurance Market

4.2.2 South Africa Non-life Insurance Market

4.3 Segmentation by Players

4.3.1 Top 5 Life Insurance Companies

4.3.2 Top 5 Non-life Insurance Companies

4.3.2.1 Property Insurance - Market Share of Players

4.3.2.2 Transportation Insurance - Market Share of Players

4.3.2.3 Motor Insurance - Market Share by Players

4.3.2.4 Accidental & Health Insurance - Market Share by Players

4.3.2.5 Other Non-life Insurance - Market Share by Players

5. Industry Analysis

5.1 Driving Forces of the Industry

5.2 Key Opportunities and Challenges

5.2.1 Opportunities

5.2.2 Challenges

5.3 Future Outlook (2006-2010)

6. Latest News and Developments

7. Major Players

7.1 Life Insurers

7.1.1 Old Mutual Plc

7.1.2 Sanlam Limited

7.1.3 Liberty Group Limited

7.1.4 Investec Limited

7.1.5 Investment Solutions Inc.

7.2 Non-life Insurers

7.2.1 Santam Limited

7.2.2 Mutual & Federal Insurance Company Limited

7.2.3 Hollard Insurance Co. Limited

7.2.4 South African Eagle Insurance Co. Limited

7.2.5 Guardrisk

List of Figures:

Figure 3-1: Global - Insurance Market Segmentation (%), 2004

Figure 3-2: Global - Life and Non-life Insurance Premiums (in Billion US$), 1995-2004

Figure 3-3: Global - Insurance Premium Growth (%), 1996-2004

Figure 3-4: Global - Comparison of Contribution of Non-life and Life Insurance Premium (in Million US$), 1995 & 2004

Figure 3-5: Global - Insurance Industry Segmentation by Region (%), 2004

Figure 3-6: Global - Life Insurance & Pensions Market by Region (%), 2004

Figure 3-7: Global - Non-life Insurance Market by Region (%), 2004

Figure 3-8: Global - Forecast for Insurance Market (in Billion US$), 2006-2009

Figure 4-1: South Africa - Insurance Market (in Billion US$), 2001-2005

Figure 4-2: South Africa - Insurance Market Segmentation (%), 2004

Figure 4-3: South Africa - Life Insurance & Pensions Market Segmentation (%), 2004

Figure 4-4: South Africa - Life Insurance & Pensions Market (in Billion US$), 2000-2005

Figure 4-5: South Africa - Non-life Insurance Market (in Billion US$), 2000-2005

Figure 4-6: South Africa - Non-life Insurance Market Segmentation (%), 2004

Figure 4-7: South Africa - Gross Premium of Top 5 Life Insurance Companies (in Billion Rand ‘R’), 2004

Figure 4-8: South Africa - Market Share of Top 5 Life Insurance Companies (%), 2004

Figure 4-9: South Africa - Gross Premium of Top 5 Non-life Insurance Companies (in Billion Rand ‘R’), 2004

Figure 4-10: South Africa - Market Share of Top 5 Non-life Insurance Companies (%), 2004

Figure 4-11: South Africa - Market Share of Property Insurance by General Segment (%), 2004

Figure 4-12: South Africa - Market Share of Property Insurance by Cell Captive Segment (%), 2004

Figure 4-13: South Africa - Market Share of Property Insurance by Specialist Segment (%), 2004

Figure 4-14: South Africa - Market Share of Property Insurance by Bank Segment (%), 2004

Figure 4-15: South Africa - Market Share of Transportation Insurance by General Segment (%), 2004

Figure 4-16: South Africa - Market Share of Transportation Insurance by Cell Captive Segment (%), 2004

Figure 4-17: South Africa - Market Share of Transportation Insurance by Specialist Segment (%), 2004

Figure 4-18: South Africa - Market Share of Transportation Insurance by Bank Segment (%), 2004

Figure 4-19: South Africa - Market Share of Motor Insurance by General Segment (%), 2004

Figure 4-20: South Africa - Market Share of Motor Insurance by Cell Captive Segment (%), 2004

Figure 4-21: South Africa - Market Share of Motor Insurance by Specialist Segment (%), 2004

Figure 4-22: South Africa - Market Share of Motor Insurance by Bank Segment (%), 2004

Figure 4-23: South Africa - Market Share of Accidental & Health Insurance by General Segment (%), 2004

Figure 4-24: South Africa - Market Share of Accidental & Health Insurance by Cell Captive Segment (%), 2004

Figure 4-25: South Africa - Market Share of Accidental & Health Insurance by Specialist Segment (%), 2004

Figure 5-1: South Africa - Birth & Death Rates (per 1000 Population), 2001, 2002 & 2005

Figure 5-2: South Africa - Healthcare Expenditure (as a % of GDP), 2001-2005

Figure 5-3: South Africa - Personal Disposable Income (in Billion US$), 2001-2005

Figure 5-4: South Africa - Forecast for Population under Different Age Groups (as a % of Total Population), 2006-2010

Figure 5-5: South Africa - Forecast for Total Insurance Market (in Billion US$), 2006-2010

Figure 5-6: South Africa - Forecast for Life Insurance Market (in Billion US$), 2006-2010

Figure 5-7: South Africa - Forecast for Non-life Insurance Market (in Billion US$), 2006-2010

List of Tables:

Table 3-1: Global - Top 10 Countries on the basis of Premium Collection (in Million US$), 2004

Table 3-2: Global - Top Insurers by Revenue (in Million US$), 2004

Table 4-1: South Africa - Premiums Collected by Top Life Insurance Companies (in Thousand US$), 2004

Table 4-2: South Africa - Key Ratios of Top Life Insurance Companies (%), 2004

Table 4-3: South Africa - Gross Premiums (R ’000) and Market Share of Top Non-life Insurance Companies, 2004

Table 4-4: South Africa - Market Share of Other Non-life Insurance by Different Segments (%), 2004

Table 5-1: South Africa - Poverty Measures for Each Age Group (%), 2003

Table 7-1: Old Mutual Plc - Key Financials (in US$), 2003-2005

Table 7-2: Sanlam Limited - Key Financials (in US$), 2003-2005

Table 7-3: Liberty Group Limited - Key Financials (in US$), 2003-2005

Table 7-4: Investec Limited - Key Financials (in US$), 2004-2006

Table 7-5: Investment Solutions Inc. - Key Financials (in R ’000), 2003

Table 7-6: Santam Limited - Key Financials (in US$), 2003-2005

Table 7-7: Mutual & Federal Insurance Company Limited - Key Financials (in US$), 2003-2005

Table 7-8: Hollard Insurance Co. Ltd - Key Financials (in R '000), 2003-04

Table 7-9: South African Eagle Insurance Co. Limited - Key Financials (2004 & 2005)

Table 7-10: Guardrisk - Key Financials (in Million Rand), 2004 & 2005

Abstract

• What are the marketing strategies of the players in the insurance industry?
• How is the growth in Health and Group insurance driving the Insurance sector in South Africa?
• How are the demographic factors, like death rate and birthrates affecting the South African insurance market?
• What are the opportunities for the players in this industry and what are the challenges to sustain the Insurance market in South Africa?
• What will be the prospective areas of investments in the insurance industry in the near future?
• Which factors will lead to the growth of Life and Non-life insurance in South Africa?

• Due to the increase in the crime rates, thefts rates and high death rates, the total insurance market (Life & Non-life) is expected to cross over $42 Billion in the year 2010 growing at the rate of more than 6.4% from the year 2006 onwards.
• Just 60% of the motor insurance market is tapped. So it becomes an opportunity area for the insurers in this segment.
• The increasing vehicle thefts have been a big challenge for the insurance companies in terms of the claims.
• There are major opportunities in Agriculture Insurance sector as this contributes to 4% of GDP and there are major losses due to uneven rainfall and lack of irrigation facility.

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