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South Africa Life Insurance Market to 2027

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    Report

  • 42 Pages
  • November 2023
  • Region: South Africa
  • MarketLine
  • ID: 5928027
Life Insurance in South Africa industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

  • The market is segmented into Life Insurance and Pension/Annuity.
  • The South African life insurance market had total gross written premiums of $36.9 billion in 2022, representing a compound annual growth rate (CAGR) of 4.5% between 2017 and 2022.
  • The life insurance segment accounted for the market's largest proportion in 2022, with total gross written premiums of $28.5 billion, equivalent to 77.4% of the market's overall value.
  • In 2022, the South African life insurance market witnessed an annual growth of 0.9%. Factors such as a rising population base, increasing disposable income, and growing consumer confidence are driving the country’s life insurance market.

Scope

  • Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in South Africa
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in South Africa
  • Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the South Africa life insurance market with five year forecasts

Reasons to Buy

  • What was the size of the South Africa life insurance market by value in 2022?
  • What will be the size of the South Africa life insurance market in 2027?
  • What factors are affecting the strength of competition in the South Africa life insurance market?
  • How has the market performed over the last five years?
  • Who are the top competitors in South Africa's life insurance market?

Table of Contents

1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do the leading players follow?
7.4. What has been the rationale behind recent M&A activity?
8 Company Profiles
8.1. Guardrisk Insurance Company Ltd
8.2. Hollard Insurance Group
8.3. Santam Ltd
8.4. Old Mutual Life Assurance Co (South Africa) Ltd
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related research
10.4. About the Publisher
List of Tables
Table 1: South Africa life insurance market value: $ billion, 2017-22
Table 2: South Africa life insurance market category segmentation: % share, by value, 2017-2022
Table 3: South Africa life insurance market category segmentation: $ billion, 2017-2022
Table 4: South Africa life insurance market geography segmentation: $ billion, 2022
Table 5: South Africa life insurance market value forecast: $ billion, 2022-27
Table 6: South Africa life insurance market share: % share, by value, 2022
Table 7: Guardrisk Insurance Company Ltd: key facts
Table 8: Guardrisk Insurance Company Ltd: Key Employees
Table 9: Hollard Insurance Group: key facts
Table 10: Hollard Insurance Group: Key Employees
Table 11: Santam Ltd: key facts
Table 12: Santam Ltd: Annual Financial Ratios
Table 13: Santam Ltd: Key Employees
Table 14: Santam Ltd: Key Employees Continued
Table 15: Old Mutual Life Assurance Co (South Africa) Ltd: key facts
Table 16: Old Mutual Life Assurance Co (South Africa) Ltd: Key Employees
Table 17: South Africa size of population (million), 2018-22
Table 18: South Africa gdp (constant 2005 prices, $ billion), 2018-22
Table 19: South Africa gdp (current prices, $ billion), 2018-22
Table 20: South Africa inflation, 2018-22
Table 21: South Africa consumer price index (absolute), 2018-22
Table 22: South Africa exchange rate, 2018-22
List of Figures
Figure 1: South Africa life insurance market value: $ billion, 2017-22
Figure 2: South Africa life insurance market category segmentation: $ billion, 2017-2022
Figure 3: South Africa life insurance market geography segmentation: % share, by value, 2022
Figure 4: South Africa life insurance market value forecast: $ billion, 2022-27
Figure 5: Forces driving competition in the life insurance market in South Africa, 2022
Figure 6: Drivers of buyer power in the life insurance market in South Africa, 2022
Figure 7: Drivers of supplier power in the life insurance market in South Africa, 2022
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in South Africa, 2022
Figure 9: Factors influencing the threat of substitutes in the life insurance market in South Africa, 2022
Figure 10: Drivers of degree of rivalry in the life insurance market in South Africa, 2022
Figure 11: South Africa life insurance market share: % share, by value, 2022

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Guardrisk Insurance Company Ltd
  • Hollard Insurance Group
  • Santam Ltd
  • Old Mutual Life Assurance Co (South Africa) Ltd