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Market Report, "Life Insurance in South Africa, Key Trends and Opportunities to 2017", Published

Recently published research from Timetric, "Life Insurance in South Africa, Key Trends and Opportunities to 2017", is now available at Fast Market Research

 

Boston, MA -- (SBWIRE) -- 09/11/2013 -- The South African insurance industry is the largest in Africa, and the country's life insurance segment accounted for around 78.6% of the continent's total gross written premium for life insurance in 2012. The growth in the South African life segment can be attributed to stable GDP growth, the rising disposable incomes of the middle-class population, and the rapid expansion of financial services in rural areas, leading to a rise in awareness levels. High crime rates and levels of HIV, along with the development of microinsurance, also spurred growth of the life insurance segment.

Key Highlights

- The rapid expansion of financial services through microinsurance programs has been a major growth driver in South Africa
- The penetration rate for microinsurance in South Africa is the highest in Africa, and around 60% of the continent's microinsurance policies are contributed by South Africa
- Penetration was further helped by a rapid rise in income among the growing black middle-class population, supported by the South African government's Black Economic Empowerment (BEE) program
- Growth was further supported by an unprecedented stretch of GDP growth which began in 1998, driven by growing mining exports and increased trade in agricultural commodities
- Online is the fastest-growing distribution channel in South Africa. The channel grew at a CAGR of 14.9% during the review period

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the life insurance segment in South Africa:

- It provides historical values for South Africa's life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in South Africa's life insurance segment, along with market forecasts until 2017
- 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 Get This Report

- 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

Companies Mentioned in this Report: Old Mutual Life Assurance Company (South Africa) Ltd, MMI Group Ltd, Sanlam Life Insurance Ltd, Investec Assurance Ltd, Investment Solutions Ltd, Liberty Group Ltd, Coronation Life Assurance Company Ltd, Allan Gray Proprietary Ltd, Discovery Life Ltd, Liberty Active Ltd

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