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Non-Life Insurance in South Africa, Key Trends and Opportunities to 2020

Non-Life Insurance in South Africa, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'Non-Life Insurance in South Africa, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the South African non-life insurance segment, and a comparison of the South African insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the South African economy and demographics, explains the various types of natural hazard and their impact on the South African insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Non-Life Insurance in South Africa Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the South African non-life insurance segment, including:

  • The South African non-life segment’s detailed outlook by product category
  • A comprehensive overview of the South African economy and demographics
  • A comparison of the South African non-life insurance segment with its regional counterparts
  • The various distribution channels in the South African non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the South African insurance industry
  • Details of the competitive landscape in the non-life insurance segment in South Africa
  • Details of regulatory policy applicable to the South African insurance industry
Scope

This report provides a comprehensive analysis of the non-life insurance segment in South Africa:
  • It provides historical values for the South African non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the South African non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the South African non-life insurance segment with its regional counterparts
  • It analyzes the various distribution channels for non-life insurance products in South Africa.
  • It analyzes various natural and man-made hazards and their impact on South African insurance industry
  • It profiles the top non-life insurance companies in South Africa, and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the South African non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the South African non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the South African insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • Non-life insurance penetration stood at 2.5% in 2015, the largest in Southern Africa.
  • Property insurance was the largest category during the review period.
  • South African liability insurance was the third largest category during the review period, with a 4.7% share in terms of gross written premium in 2015.
  • Marine, aviation and transit insurance was the smallest category in the South African non-life segment in 2015, accounting for 3.2% of the total non-life gross written premium.
  • In terms of frequency, floods were the main hazard during the period, accounting for 37.9% of all natural disasters.
  • The South African non-life insurance segment is highly competitive, and contains both domestic and foreign insurers.


  • Key Facts and Highlights
    • Table South African Non-Life Insurance - Key Facts, 2015
    • Table South African Non-Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table South African Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium
        • Table South African Non-Life Insurance - Gross Written Premium (ZAR Billion and US$ Billion), 2011-2015
        • Table South African Non-Life Insurance - Gross Written Premium (ZAR Billion and US$ Billion), 2015-2020
      • Claims
        • Table South African Non-Life Insurance - Paid Claims (ZAR Billion and US$ Billion), 2011-2015
        • Table South African Non-Life Insurance - Paid Claims (ZAR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table South African Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table South African Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table South African Non-Life Insurance - Total Assets (ZAR Billion and US$ Billion), 2011-2015
        • Table South African Non-Life Insurance - Total Assets (ZAR Billion and US$ Billion), 2015-2020
        • Table South African Non-Life Insurance - Total Investment Income (ZAR Billion and US$ Million), 2011-2015
        • Table South African Non-Life Insurance - Total Investment Income (ZAR Billion and US$ Million), 2015-2020
        • Table South African Non-Life Insurance - Investment Portfolio (ZAR Billion), 2011-2015
        • Table South African Non-Life Insurance - Investment Portfolio (ZAR Billion), 2015-2020
  • Outlook by Category
    • Table South African Non-Life Insurance - Gross Written Premium by Category (ZAR Billion), 2011-2015
    • Table South African Non-Life Insurance - Gross Written Premium by Category (ZAR Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Claims
        • Table South African Property Insurance - Paid Claims (ZAR Billion and US$ Billion), 2011-2015
        • Table South African Property Insurance - Paid Claims (ZAR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table South African Property Insurance - Loss Ratio (%), 2011-2015
        • Table South African Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
        • Table South African Motor Insurance - Number of Registered Vehicles by Type (Thousand), 2011-2015
      • Claims
        • Table South African Motor Insurance - Paid Claims (ZAR Billion and US$ Billion), 2011-2015
        • Table South African Motor Insurance - Paid Claims (ZAR Billion and US$ Billion), 2015-2020
      • Profitability
        • Table South African Motor Insurance - Loss Ratio (%), 2011-2015
        • Table South African Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Claims
        • Table South African Liability Insurance - Paid Claims (ZAR Billion and US$ Million), 2011-2015
        • Table South African Liability Insurance - Paid Claims (ZAR Billion and US$ Million), 2015-2020
      • Profitability
        • Table South African Liability Insurance - Loss Ratio (%), 2011-2015
        • Table South African Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table South African Transport Network - Global Rankings
        • Table South African Marine, Aviation and Transit Insurance - Passenger and Carrier Traffic, 2011-2015
      • Claims
        • Table South African Marine, Aviation and Transit Insurance - Paid Claims (ZAR Million and US$ Million), 2011-2015
        • Table South African Marine, Aviation and Transit Insurance - Paid Claims (ZAR Million and US$ Million), 2015-2020
      • Profitability
        • Table South African Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table South African Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
  • Natural and Man-Made Hazards
    • Flooding
    • Droughts
    • Wildfires
    • Man-Made Disasters
    • Exposure
  • Competitive Landscape
    • Table South African Non-Life Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Santam - company overview
        • Table Santam - Key Facts
        • Table Santam - Key Financials (US$ Million), 2011-2015
      • Hollard Insurance Company Ltd - company overview
        • Table Hollard Insurance Company Ltd - Key Facts
        • Table Hollard Insurance Company Ltd - Key Financials (US$ Million), 2011-2015
      • Mutual & Federal - company overview
        • Table Mutual & Federal - Key Facts
        • Table Mutual & Federal - Key Financials (US$ Million), 2011-2015
      • Guardrisk Insurance Company Ltd - company overview
        • Table Guardrisk Insurance Company Ltd - Key Facts
        • Table Guardrisk Insurance Company Ltd - Key Financials (US$ Million), 2011-2015
      • Outsurance - company overview
        • Table Outsurance - Key Facts
        • Table Outsurance - Key Financials (US$ Million), 2011-2015
  • Governance, Risk and Compliance
    • Table South Africa - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
      • Table South Africa - Commission Rates for Health Insurance Policy
      • Table South Africa - Maximum cost of credit life insurance
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table South Africa - Life Insurance Regulatory Framework
      • Property insurance
        • Table South Africa - Property Insurance Regulatory Framework
        • Table South Africa - SASRIA Annual and Monthly Premium Rates
      • Motor insurance
        • Table South Africa - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table South Africa - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Third-party liability insurance for commercial flight operators
      • Unemployment insurance
      • Compensation for occupational diseases and injuries
      • Professional indemnity insurance
      • Environmental liability insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • African Insurance Organization
      • Financial Services Board
      • South African Insurance Association
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table South Africa - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table South African Insurance Industry - Policies and Premium, 2011-2015
      • Table South African Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table South African Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table South African Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table South African Non-Life Insurance - Assets and Investments, 2011-2015
      • Table South African Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table South African Non-Life Insurance - Property Insurance, 2011-2015
      • Table South African Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table South African Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table South African Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table South African Non-Life Insurance - Motor Insurance, 2011-2015
      • Table South African Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table South African Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table South African Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table South African Non-Life Insurance - Liability Insurance, 2011-2015
      • Table South African Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table South African Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table South African Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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