South African Insurance Industry Forecast to 2013

Published Date: Aug 09                                                                                     No of Pages: 75
Format: Single User PDF

South Africa is known for its well-developed, highly liberalized financial sector. Particularly, the insurance industry of the country is the most developed in the entire African continent. As per our research report "South African Insurance Industry Forecast to 2013”, South Africa account for the bulk of the Africa’s total insurance business, i.e. a lion’s share of around 85%. In this way, it has left Tanzania and other 51 African countries with a collective share of merely 15%.

In the course of our research, we found that the South African insurance industry showed a remarkable resilience to the economic turmoil of 2008 that entangled most of the industries across the world. In fact, the long-term insurance sector of the country continued the trend of positive growth during this adverse time and registered about 11.5% growth rate during 2008. In future also, it is anticipated to maintain the healthy growth rate.

Most importantly, the policyholders not only maintained their premiums for life and disability insurance and fund policies in 2008, but they also continued to increase them. The life insurance industry managed to attract new individual recurring as well as single premiums of ZAR 65 Billion during 2008, an increase of 14% over 2007.

The report also highlights that with the increased demand of medical, motor and property insurance, short-term insurance industry is also set to rollout tremendously in the coming years. By net premium, short-term insurance industry is expected to grow at a CAGR of about 11% during 2009-2013. Growing demand for liability and engineering insurance will favor the future growth.

"South African Insurance Industry Forecast to 2013” provides extensive research and in-depth analysis of the insurance sector of South Africa. The report will help clients to evaluate the leading-edge opportunities critical to the success of the country’s insurance industry. It also provides future outlook on the key segments of the industry, besides shedding light on the key players in the industry (including both domestic as well as foreign players).

The forecast given in the report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers.
 

1. Analyst View
2. Macroeconomic Analysis
3. Insurance Industry Overview
4. Long-term Insurance
     4.1 By Insurer
            4.1.1 Typical
            4.1.2 Niche
            4.1.3 Link Investment
            4.1.4 Cell Captive
            4.1.5 Assistance
     4.2 By Product
            4.2.1 Individual Life
            4.2.2 Group Schemes and Pension Funds
5. Short-term Insurance
     5.1 By Insurer
            5.1.1 Typical
            5.1.2 Cell Captive
            5.1.3 Niche
            5.1.4 Captive
     5.2 By Product
            5.2.1 Motor Insurance
            5.2.2 Property Insurance
            5.2.3 Accident and Health Insurance
            5.2.4 Engineering Insurance
            5.2.5 Liability Insurance
6. Reinsurance Market
7. Government Initiatives
     7.1 Customized Product Development
     7.2 Consumer Awareness Campaigns
     7.3 Life Insurers Waved Existing HIV/AIDS Exclusions
8. Industry Trends
     8.1 On-line Insurance Selling
     8.2 Insurance Outsourcing
     8.3 Customized Insurance Products
     8.4 Bancassurance
     8.5 Investment Pattern
     8.6 Rise in Fraudulent Claims
     8.7 Low Degree of Awareness
     8.8 Policy Lapses and Surrenders
     8.9 Regulatory Challenges
9. Competitive Landscape
10. Key Players
     10.1 Long-term Insurance
             10.1.1 Old Mutual plc
             10.1.2 Sanlam Limited
             10.1.3 Liberty Group Limited
             10.1.4 Liberty Holdings Ltd
     10.2 Short-term Insurers
             10.2.1 Alexander Forbes Ltd
             10.2.2 Santam Limited
             10.2.3 Mutual & Federal Insurance Company Limited
             10.2.4 Zurich Insurance Company SA Ltd.

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