The Life Insurance Industry including Reinsurance in South Africa 2017

  • ID: 4288371
  • Report
  • Region: Africa, South Africa
  • 157 Pages
  • Who Owns Whom
1 of 4
Focuses on Developments During 2016, General Trends in the Sector and Factors that Influence the Success of Role Players

FEATURED COMPANIES

  • 1 Life Insurance (RF) Ltd
  • AIG Life South Africa Ltd
  • Assupol Life Ltd
  • Discovery Life Ltd
  • Guardrisk Life Ltd
  • PSG Konsult Ltd
  • MORE
The South African Life Insurance and Reinsurance Industry: The South African life insurance industry contributed R429.3bn to the local economy through benefit payments to policyholders and beneficiaries during the course of 2016 and currently holds assets of around R2.63-trillion. The Association for Savings and Investment South Africa (ASISA) reported that in the 12-month period ended 31 December 2016, premiums, investment and other income totalled more than R577bn, while benefit payments to policyholders and beneficiaries totalled R429.3bn.

A Challenging Environment:
Although it remains a well capitalised industry, the country’s challenging socio-economic environment continues to constrain the growth of the life insurance sector. ASISA reported that during the 12-month period ended 31 December 2016, individual policy surrenders rose by 16% year-on-year, new business growth contracted and life insurers posted total income growth of a mere 1%, indicating that local consumers are under growing pressure. Life insurers are also facing regulatory disruption and are confronted with new risks emanating from the recent sovereign credit ratings downgrade of the South African economy to “junk” status. The proposed nationalisation of life insurance companies, as mooted by the recently appointed advisor to South Africa’s new Finance Minister Malusi Gigaba, is widely expected to further dampen investor confidence in the country..

Report Coverage:
The report on the Life Insurance and Reinsurance sector focuses on developments during 2016, general trends in the sector and factors that influence the success of role players. Profiles for 37 companies are provided, ranging from the big four traditional companies, Old Mutual Life, the MMI Group, Liberty Group and Sanlam Life Insurance Ltd, to small companies such as Bophelo Life Insurance Ltd and Bidvest Life Ltd. Also profiled are Absa Life Limited which received regulatory approval to acquire a 75% stake in Instant Life, an online life insurance distribution platform, and Hollard Life Assurance Company Ltd which was prohibited by the Competition Commission from acquiring Regent Life Assurance Company Limited from Imperial Holdings.
READ MORE
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • 1 Life Insurance (RF) Ltd
  • AIG Life South Africa Ltd
  • Assupol Life Ltd
  • Discovery Life Ltd
  • Guardrisk Life Ltd
  • PSG Konsult Ltd
  • MORE
1. Introduction

2. Description Of The Industry
2.1. Industry Value Chain
2.2. Geographic Position

3. Size Of The Industry

4. State Of The Industry
4.1. Local
4.1.1. Corporate Actions
4.1.2. Regulations
4.1.3. Enterprise Development (Ed) And Social Economic Development (Sed)
4.2. Continental
4.3. International

5. Influencing Factors
5.1. Economic Environment
5.2. Socio-Economic Environment
5.3. Rising Operational Costs
5.4. Technology, Research & Development (R&D) And Innovation
5.5. Labour Resources
5.6. Cyclicality
5.7. Environmental Concerns
5.8. Over-Regulation
5.9. Fraud

6. Competition
6.1. Barriers To Entry

7. Swot Analysis

8. Outlook

9. Industry Associations

10. References
10.1. Publications
10.2. Websites
Company Profiles
1 Life Insurance (Rf) Ltd
AbSA Life Ltd
African Unity Life Ltd
Aig Life South Africa Ltd
Alexander Forbes Ltd
Allan Gray Life Ltd
Assupol Life Ltd
Avbob Mutual Assurance Society
Bidvest Life Ltd
Bophelo Life Insurance Ltd
Brightrock Life Ltd
Clientele Life Assurance Company Ltd
Community Life Insurance Company Ltd
Coronation Life Assurance Company Ltd
Discovery Life Ltd
Fedgroup Life Ltd
General Reinsurance Africa Ltd
Gic Re South Africa Ltd
Guardrisk Life Ltd
Hannover Reinsurance Group Africa (PTY) Ltd
Hollard Life Assurance Company Ltd
Investment Solutions Ltd
Land Bank Life Insurance Company Soc Ltd
Liberty Holdings Ltd
Lion Of Africa Life Assurance Company Ltd
MMI Group Ltd
Munich Reinsurance Company Of Africa Ltd
Nedgroup Structured Life Ltd
Old Mutual Life Assurance Company (South Africa) Ltd
Outsurance Life Insurance Company Ltd
Professional Provident Society Insurance Company Ltd
Prudential Portfolio Managers (South Africa) Life Ltd
PSG Konsult Ltd
Rand Mutual Assurance Company Ltd
Regent Life Assurance Company Ltd
RGA Reinsurance Company Of South Africa Ltd
Sanlam Life Insurance Ltd
Scor Africa Ltd
Standard General Insurance Company Ltd
Strategic Investment Service Life Company Ltd
Swiss Re Life And Health Africa Ltd
Sygnia Life Ltd
Union Life Ltd 152
Note: Product cover images may vary from those shown
3 of 4

Loading
LOADING...

4 of 4
  • SCOR Africa Ltd
  • Regent Life Assurance Company Ltd
  • Liberty Holdings Ltd
  • Rand Mutual Assurance Company Ltd (The)
  • Standard General Insurance Company Ltd (The)
  • Alexander Forbes Ltd
  • Guardrisk Life Ltd
  • Discovery Life Ltd
  • MMI Group Ltd
  • Sanlam Life Insurance Ltd
  • Coronation Life Assurance Company Ltd
  • Old Mutual Life Assurance Company (South Africa) Ltd
  • Land Bank Life Insurance Company SOC Ltd
  • Hollard Life Assurance Company Ltd
  • Clientele Life Assurance Company Ltd
  • Absa Life Ltd
  • Munich Reinsurance Company of Africa Ltd
  • General Reinsurance Africa Ltd
  • Swiss Re Life and Health Africa Ltd
  • RGA Reinsurance Company of South Africa Ltd
  • AVBOB Mutual Assurance Society
  • Assupol Life Ltd
  • GIC Re South Africa Ltd
  • Allan Gray Life Ltd
  • Professional Provident Society Insurance Company Ltd
  • Nedgroup Structured Life Ltd
  • Prudential Portfolio Managers (South Africa) Life Ltd
  • Alexander Forbes Investments Ltd
  • AIG Life South Africa Ltd
  • African Unity Life Ltd
  • Bidvest Life Ltd
  • Fedgroup Life Ltd
  • BrightRock Life Ltd
  • OUTsurance Life Insurance Company Ltd
  • Strategic Investment Service Life Company Ltd
  • Community Life Insurance Company Ltd
  • Lion of Africa Life Assurance Company Ltd
  • Union Life Ltd
  • Sygnia Life Ltd
  • 1 Life Insurance (RF) Ltd
  • Hannover Reinsurance Group Africa (Pty) Ltd
  • PSG Konsult Ltd
  • Bophelo Life Insurance Ltd
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
Adroll
adroll