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South Africa Insurance Report Q3 2015


Attention: There is an updated edition available for this report.

BMI View: We have a positive outlook for both the South African life and non-life insurance marketsthrough our five-year forecast period. On the back of strengthening economic growth, changes in thecountry's demographic structure, and developments in other sectors of the economy (e.g. construction), weforesee robust growth in both segments and attractive opportunities for domestic and foreign investors.

South Africa's life insurance market constitutes a substantial segment of the country's overall insurancesector, accounting for 82% of total written premiums in 2015. Also in terms of growth potential, lifeinsurance is expected to outpace its non-life counterpart throughout the five-year forecast period - as it willgrow by some 6.6% on average per year, leading to an increase of its market share to 83% in 2019. Anumber of important ongoing developments underpin this solid outlook for life insurance. As is commonlyseen in most countries, South Africa will see the average life expectancy of its population increase in thenext years on the back of government-induced improvements in the country's healthcare system, and accessto medicines will consequently lead to growth of the retirement-aged population. Because this portion ofthe population is inherently more inclined to seek security as they grow older, these retirees will boostdemand for life insurance solutions. In addition, as South Africa's economy strengthens, the middle classgrows, and the population becomes more aware of the need and benefits of having life insurance,increasingly more people will be able to afford and boost demand for life policies. Accordingly, overall,there is considerable scope for future growth in South Africa's life insurance segment.


BMI Industry View
SWOT
Insurance
Political
Economic
Operational Risk
Industry Forecast
Life Premiums Forecast
Life Premiums
Table: Gross Life Premiums Written (South Africa 2012-2019)
Table: Net Life Premiums Written (South Africa 2012-2019)
Reinsurance Life Premiums
Table: Reinsurance Life Premiums Written (South Africa 2012-2019)
Life Insurance Claims
Table: Life Insurance Claims (South Africa 2007-2014)
Life Insurance Assets
Table: Assets (South Africa 2007-2014)
Life Insurance Drivers
Table: Life Expectancy by Gender (South Africa 2012-2019)
Table: Demographic Breakdown (South Africa 2012-2019)
Non-Life Premiums Forecast
Total Premiums
Table: Gross Non-Life Premiums Written (South Africa 2012-2019)
Table: Net Non-Life Premiums Written (South Africa 2012-2019)
Non-Life Reinsurance
Table: Reinsurance Non-Life Premiums Written (South Africa 2012-2019)
Non-Life Claims
Table: Non-Life Insurance Claims (South Africa 2007-2014)
Table: Non-Life Insurance Claims by Line (South Africa 2007-2014)
Non-Life Assets
Table: Assets (South Africa 2007-2014)
Non-Life Subsectors Forecast
Table: Non-Life % Breakdown (South Africa 2012-2019)
Motor and Transport Insurance
Table: Motor Vehicle Insurance (South Africa 2012-2019)
Table: Insurance Key Drivers, Autos (South Africa 2012-2019)
Table: Transport Insurance (South Africa 2012-2019)
Table: Insurance Key Drivers, Freight Tonnage (South Africa 2012-2019)
Property Insurance
Table: Property Insurance (South Africa 2012-2019)
Health and Personal Accident Insurance
Table: Health and Personal Accident Insurance (South Africa 2012-2019)
Table: Insurance Key Drivers, Private Health Expenditure (South Africa 2012-2019)
General Liability and Credit Insurance
Table: General Liability Insurance (South Africa 2012-2019)
Table: Credit/Financial Guarantee Insurance (South Africa 2012-2019)
Industry Risk Reward Ratings
Sub-Saharan Africa Risk/Reward Index
Table: Sub-Saharan Africa Insurance Risk/Reward Index
Market Overview
Life Market Overview
Table: Life Insurance Market (USDmn) 2007-2013
Table: Life Insurance Market (%) 2007-2013
Non-Life Market Overview
Table: Non-Life Insurance Market (USDmn) 2007-2013
Table: Non-Life Insurance Market (%) 2007-2013
Company Profile
Hollard
Liberty Holdings
MMI Holdings
Old Mutual
Sanlam Group
Zurich South Africa
Demographic Forecast
Demographic Outlook
Table: Population Headline Indicators (South Africa 1990-2025)
Table: Key Population Ratios (South Africa 1990-2025)
Table: Urban/Rural Population & Life Expectancy (South Africa 1990-2025)
Table: Population By Age Group (South Africa 1990-2025)
Table: Population By Age Group % (South Africa 1990-2025)
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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