Non-Life Insurance in South Africa - Market Summary, Competitive Analysis and Forecast to 2025

Non-Life Insurance in South Africa industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
The South African non-life insurance market had total gross written premiums of $7.4bn in 2020, representing a compound annual growth rate (CAGR) of 1% between 2016 and 2020.
The motor segment was the market's most lucrative in 2020, with total gross written premiums of $3.4bn, equivalent to 46.7% of the market's overall value.
The COVID-19 pandemic, which first took hold in South Africa in early 2020, has had a severe impact on the non-life insurance market, with cuts to interest rates affecting insurance companies’ profits.

Scope

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in South Africa
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in South Africa
Leading company profiles reveal details of key non-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 non-life insurance market with five year forecasts

Reasons to Buy

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Frequently Asked Questions about the Non-Life Insurance Market in South Africa

What is the estimated value of the Non-Life Insurance Market in South Africa?

The Non-Life Insurance Market in South Africa was estimated to be valued at $7.38 Billion in 2020.

What is the growth rate of the Non-Life Insurance Market in South Africa?

The growth rate of the Non-Life Insurance Market in South Africa is 2.7%, with an estimated value of $8.46 Billion by 2025.

What is the forecasted size of the Non-Life Insurance Market in South Africa?

The Non-Life Insurance Market in South Africa is estimated to be worth $8.46 Billion by 2025.

Who are the key companies in the Non-Life Insurance Market in South Africa?

Key companies in the Non-Life Insurance Market in South Africa include Santam Ltd, Hollard Insurance Group, Guardrisk Insurance Company Ltd and Old Mutual Ltd.

Report Attribute	Details
No. of Pages	42
Published	November 2021
Forecast Period	2020 - 2025
Estimated Market Value ( USD ) in 2020	$ 7.38 Billion
Forecasted Market Value ( USD ) by 2025	$ 8.46 Billion
Compound Annual Growth Rate	2.7%
Regions Covered	South Africa

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 leading players follow?
7.4. What has been the rationale behind recent M&A activity?
7.5. How has the COVID - 19 outbreak impacted the market?

8 Company Profiles

8.1. Santam Ltd
8.2. Hollard Insurance Group
8.3. Guardrisk Insurance Company Ltd
8.4. Old Mutual 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 non-life insurance market value: $ billion, 2016 - 20
Table 2: South Africa non-life insurance market category segmentation: $ billion, 2020
Table 3: South Africa non-life insurance market geography segmentation: $ billion, 2020
Table 4: South Africa non-life insurance market value forecast: $ billion, 2020 - 25
Table 5: South Africa non-life insurance market share: % share, by value, 2020
Table 6: Santam Ltd: key facts
Table 7: Santam Ltd: Annual Financial Ratios
Table 8: Santam Ltd: Key Employees
Table 9: Hollard Insurance Group: key facts
Table 10: Hollard Insurance Group: Key Employees
Table 11: Guardrisk Insurance Company Ltd: key facts
Table 12: Guardrisk Insurance Company Ltd: Key Employees
Table 13: Old Mutual Ltd: key facts
Table 14: Old Mutual Ltd: Annual Financial Ratios
Table 15: Old Mutual Ltd: Key Employees
Table 16: South Africa size of population (million), 2016 - 20
Table 17: South Africa gdp (constant 2005 prices, $ billion), 2016 - 20
Table 18: South Africa gdp (current prices, $ billion), 2016 - 20
Table 19: South Africa inflation, 2016 - 20
Table 20: South Africa consumer price index (absolute), 2016 - 20
Table 21: South Africa exchange rate, 2016 - 20

List of Figures

Figure 1: South Africa non-life insurance market value: $ billion, 2016 - 20
Figure 2: South Africa non-life insurance market category segmentation: % share, by value, 2020
Figure 3: South Africa non-life insurance market geography segmentation: % share, by value, 2020
Figure 4: South Africa non-life insurance market value forecast: $ billion, 2020 - 25
Figure 5: Forces driving competition in the non-life insurance market in South Africa, 2020
Figure 6: Drivers of buyer power in the non-life insurance market in South Africa, 2020
Figure 7: Drivers of supplier power in the non-life insurance market in South Africa, 2020
Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in South Africa, 2020
Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in South Africa, 2020
Figure 10: Drivers of degree of rivalry in the non-life insurance market in South Africa, 2020
Figure 11: South Africa non-life insurance market share: % share, by value, 2020