Boston, MA -- (SBWIRE) -- 09/12/2013 -- South Africa's is the largest insurance industry in Africa, dominating the region by contributing more than half the total direct premiums in the non-life segment. The segment grew from a written premium value of ZAR59.7 billion (US$7.4 billion) in 2008 to ZAR79.8 billion (US$9.8 billion) in 2012, at a review-period (2008-2012) CAGR of 7.5%. This was backed by GDP growth, progress in the automobile and property sectors and a rise in public awareness with regards to insurance products. New regulations have spurred industry growth and South African non-life insurers are expected to gain exposure to global insurance industries as a result.

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Key Highlights

- Stable GDP growth, rising disposable income levels among consumers and increasing public awareness of insurance products have been the main growth drivers in the South African non-life insurance segment
- The stable economic growth of mining exports, agricultural commodities and the rapid rise of the nation's services sector are expected to increase demand for non-life insurance products over the forecast period (2012-2017)
- An increase in penetration rates was supported by the government's Black Economic Empowerment (BEE) program, which has enlarged the black middle-class population
- Property insurance is the largest category and accounted for a segmental share of 47.7% in 2012
- Motor insurance is the second-largest category and accounted for 44.3% of the segment in 2012

Scope

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

- It provides historical values for South Africa's non-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 non-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 non-life insurance products in South Africa
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in South Africa for the non-life insurance business
- It provides a detailed analysis of the reinsurance segment in South Africa and its growth prospects
- It profiles the top non-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 non-life insurance segment and each category within it

Companies Mentioned in this Report: Santam Ltd, Mutual & Federal Insurance Company Ltd, Hollard Insurance Company Ltd, OUTsurance Pty Ltd, Guardrisk Holdings Ltd, Zurich Insurance Company South Africa Ltd, Absa Bank Ltd, Auto & General Insurance Company Ltd, Centriq Insurance Company Ltd, Chartis South Africa Ltd

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