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Non-Life Insurance in South Africa

Publisher MarketLine
Published Dec 11, 2025
Length 39 Pages
SKU # MTLN20936988

Description

Non-Life Insurance in South Africa

Summary

Non-Life Insurance in South Africa industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights
  • Non-life insurance is typically defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event.
  • The South African non-life insurance market recorded gross written premiums of $9.9 billion in 2024, representing a compound annual growth rate (CAGR) of 2.7% between 2019 and 2024.
  • The motor segment accounted for the market's largest proportion in 2024, with total gross written premiums of $4.3 billion, equivalent to 43.2% of the market's overall value.
  • In 2024, the South African non-life insurance market recorded an annual growth of 8.3%. The growth is driven by increased net household disposable income, enabling consumers to allocate greater financial resources toward risk protection. According to the South African Reserve Bank, in 2024, the net disposable income per household in South Africa reached $12,977.6, up 3.4% annually.
Scope
  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in South Africa
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in South Africa
  • Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the South Africa non-life insurance market with five year forecasts
Reasons to Buy
  • What was the size of the South Africa non-life insurance market by value in 2024?
  • What will be the size of the South Africa non-life insurance market in 2029?
  • What factors are affecting the strength of competition in the South Africa non-life insurance market?
  • How has the market performed over the last five years?
  • What are the main segments that make up South Africa's non-life insurance market?

Table of Contents

39 Pages
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market rivalry
1.6. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Who are the leading players?
7.2. What are the strategies of the leading players?
7.3. What are the strengths of the leading players?
8 Company Profiles
8.1. Santam Ltd
8.2. Guardrisk Insurance Company Ltd
8.3. Hollard Insurance Group
8.4. OUTsurance Insurance Company Ltd
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: South Africa non-life insurance market value: $ billion, 2019-24
Table 2: South Africa non-life insurance market category segmentation: % share, by value, 2019-24
Table 3: South Africa non-life insurance market category segmentation: $ billion, 2019-24
Table 4: South Africa non-life insurance market geography segmentation: $ billion, 2024
Table 5: South Africa non-life insurance market value forecast: $ billion, 2024-29
Table 6: Santam Ltd: Key Facts
Table 7: Santam Ltd: Annual Financial Ratios
Table 8: Santam Ltd: Key Employees
Table 9: Guardrisk Insurance Company Ltd: Key Facts
Table 10: Guardrisk Insurance Company Ltd: Key Employees
Table 11: Hollard Insurance Group: Key Facts
Table 12: Hollard Insurance Group: Key Employees
Table 13: OUTsurance Insurance Company Ltd: Key Facts
Table 14: OUTsurance Insurance Company Ltd: Key Employees
Table 15: South Africa Size of Population (Million), 2020-23
Table 16: South Africa Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 17: South Africa GDP (Current Prices, $ Billion), 2020-24
Table 18: South Africa Inflation, 2020-23
Table 19: South Africa Consumer Price Index (Absolute), 2020-24
Table 20: South Africa Exchange Rate, 2019-24
List of Figures
Figure 1: South Africa non-life insurance market value: $ billion, 2019-24
Figure 2: South Africa non-life insurance market category segmentation: $ billion, 2019-24
Figure 3: South Africa non-life insurance market geography segmentation: % share, by value, 2024
Figure 4: South Africa non-life insurance market value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the non-life insurance market in South Africa, 2024
Figure 6: Drivers of buyer power in the non-life insurance market in South Africa, 2024
Figure 7: Drivers of supplier power in the non-life insurance market in South Africa, 2024
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in South Africa, 2024
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in South Africa, 2024
Figure 10: Drivers of degree of rivalry in the non-life insurance market in South Africa, 2024

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