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South Africa Insurance Report Q4 2017

South Africa Insurance Report Q4 2017

BMI View:

Gradual disinflation, which should bring consumer price growth sustainably back below 6.0% in 2017, supports the outlook for South Africa, where the life insurance market is an important conduit for organised savings. The non-life market in South Africa is expected to record steady growth over the forecast period to 2021, though the sector will continue to lag behind the life sector in terms of overall premiums written. It will also lag in annual % growth terms. In inflation adjusted local currency terms, growth in the non-life sector will be close to zero, for at least the next year or so, in a context where key segments of this sector are much more sensitive to the economic cycle than the life sector and real GDP will remain very sluggish, even if a gradual reduction in interest rates offers some support to consumer demand for big ticket items such as vehicle purchases.

Latest Updates And Key Forecasts

We predict average nominal growth in life insurance in rand terms of 8.7% across the period 2017 to 2021, with premium growth in US dollar terms set to be slightly higher than this, thanks to an extended recovery in the exchange rate.


BMI Industry View
Table: Headline Insurance Forecasts (South Africa 2014-2021)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (South Africa 2014-2021)
Table: Life Insurance Claims (South Africa 2009-2015)
Non-Life Premiums Forecast
Table: Non-Life Premiums (South Africa 2014-2021)
Table: Non-Life Insurance Claims (South Africa 2010-2015)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (South Africa 2014-2021)
Insurance Risk/Reward Index
Sub-Saharan Africa Insurance Risk/Reward Index
Table: Sub-Saharan Africa Insurance Risk/Reward Index, Q4 2017
Market Overview
Life Market Overview
Product Offering
Competitive Landscape
Table: Life Insurance Market (ZARmn) 2009-2015
Non-Life Market Overview
Product Offering
Competitive Landscape
Table: Non-Life Insurance Market (USDmn) 2009-2015
Company Profile
Liberty Holdings
MMI Holdings
Old Mutual
Sanlam Group
Hollard
Methodology
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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