Albany, NY -- (SBWIRE) -- 07/24/2014 -- The report provides in-depth market analysis, information and insights into the South African life insurance segment, including:
The South African life insurance segment’s growth prospects by life insurance categories
Key trends and drivers for the life insurance segment
The various distribution channels in the South African life insurance segment
The detailed competitive landscape in the life insurance segment in South Africa
Detailed regulatory policies of the South African insurance industry
A description of the life reinsurance segment in South Africa
Porter's Five Forces analysis of the life insurance segment
A benchmarking section on the South African life insurance segment in comparison with other countries in the BRICS region
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The South African insurance industry is the largest in Africa, and the country’s life insurance segment accounted for 80.0% of the continent’s total gross written premium for life insurance in 2012. Growth in the South African life segment can be attributed to stable GDP growth, rising disposable incomes of the middle-class population, the rapid expansion of financial services in rural areas, and increased awareness of life insurance products. High crime rates and levels of HIV, along with the development of microinsurance, supplemented the life segment’s growth.
This report provides a comprehensive analysis of the life insurance segment in South Africa:
It provides historical values for the South African life insurance segment for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.
It offers a detailed analysis of the key categories in the South African life insurance segment, along with market forecasts until 2018.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
It analyses the various distribution channels for life insurance products in South Africa.
Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in South Africa for the life insurance business.
It provides a detailed analysis of the reinsurance segment in South Africa and its growth prospects.
It profiles the top 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 life insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within the South African life insurance segment
Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the South African insurance industry and its impact on companies and the market's future
The South African life segment’s gross written premium grew at a review-period CAGR of 5.3%.
The number of polices sold through linked business increased from 26.0 million in 2009 to 29.5 million in 2013, at a CAGR of 3.3% during the review period.
Demand in the life segment is expected to continue over the forecast period with the help of high awareness of the needs and benefits of insurance, and the rising disposable incomes of younger people.
In 2013, brokers generated 54.2% of the gross written premium from new business in the life segment.
The South African life segment is highly concentrated among 10 large companies, which accounted for 75.8% of the segment in terms of total gross written premium in 2012.
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