Trends and Opportunities in the South African Non-Life Insurance Industry to 2016: Market Profile

Date: April 5, 2012
Pages: 122
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Publisher: Timetric
Report type: Strategic Report
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Trends and Opportunities in the South African Non-Life Insurance Industry to 2016: Market Profile
Synopsis

The report provides top-level market analysis, information and insights into the South African non-life insurance market, including:
  • A description of the non-life insurance market in South Africa
  • The South African non-life insurance market’s growth prospects by non-life insurance categories
  • The various distribution channels in the South African non-life insurance market

Summary

The South African non-life insurance segment recorded significant growth during the review period. Following its financial liberalization, the South African insurance industry benefited from several regulatory changes. The non-life insurance segment also expanded due to South Africa’s economic growth, increasing annual disposable income levels and introduction of micro-insurance schemes. Motor insurance dominated the non-life insurance segment during the review period. In 2010, motor insurance accounted for XX% of the non-life insurance segment share, followed by property insurance with a share of XX%, general liability insurance with a share of XX% and marine, aviation and transit insurance with a share of XX%.

Scope

This report provides a comprehensive analysis of the non-life insurance market in South Africa:
  • It provides historical values for South Africa’s non-life insurance market for the report’s 2007–2011 review period and forecast figures for the 2011–2016 forecast period
  • It offers a detailed analysis of the key sub-segments in South Africa’s non-life insurance market, along with market forecasts until 2016
  • It analyses the various distribution channels for non-life insurance products in South Africa

Reasons To Buy
  • Make strategic business decisions using top-level historic and forecast market data related to the South African non-life insurance market and each sector within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the South African non-life insurance market
  • Identify the growth opportunities and market dynamics within key product categories
1 INTRODUCTION

1.1 What is this Report About?
1.2 Definitions
1.3 Methodology

2 SOUTH AFRICAN INSURANCE INDUSTRY ATTRACTIVENESS

2.1 Insurance Industry Market Size, 2007-2016
2.2 Key Industry Trends and Drivers
  2.2.1 Business drivers
  2.2.2 Consumer drivers
2.3 Recent Market Developments

3 NON-LIFE INSURANCE MARKET OUTLOOK

3.1 Non-Life Insurance Growth Prospects by Category
3.2 Property insurance category
  3.2.1 Fire and allied perils insurance sub-category
  3.2.2 Engineering insurance sub-category
  3.2.3 Agriculture insurance sub-category
  3.2.4 Other property sub-category
3.3 Motor hull sub-category
3.4 General third party category
3.5 Marine, aviation and transit category
  3.5.1 Marine sub-category
  3.5.2 Aviation sub-category
  3.5.3 Transit sub-category

4 ANALYSIS BY DISTRIBUTION CHANNELS

4.1 Direct marketing channel
4.2 Bancassurance Channel
4.3 Agencies Channel
4.4 Other Channel

5 APPENDIX

5.1 Methodology
5.2 Contact Us
5.3 About Timetric
5.4 Disclaimer

LIST OF TABLES

Table 1: Insurance Market Definitions
Table 2: South African Insurance Overall Written Premium by Segment (ZAR Billion), 2007-2011
Table 3: South African Insurance Overall Written Premium by Segment (US$ Billion), 2007-2011
Table 4: South African Insurance Overall Written Premium by Segment (ZAR Billion), 2011-2016
Table 5: South African Insurance Overall Written Premium by Segment (US$ Billion), 2011-2016
Table 6: South Africa Insurance Segmentation (% Share), 2007-2016
Table 7: Non-Life Insurance Written Premium by Category (ZAR Billion), 2007-2011
Table 8: Non-Life Insurance Written Premium by Category (US$ Billion), 2007-2011
Table 9: Non-Life Insurance Written Premium by Category (ZAR Billion), 2011-2016
Table 10: Non-Life Insurance Written Premium by Category (US$ Billion), 2011-2016
Table 11: Non-Life Insurance - Incurred Loss (ZAR Billion), 2007-2011
Table 12: Non-Life Insurance - Incurred Loss (ZAR Billion), 2011-2016
Table 13: Non-Life Insurance - Loss Ratio (%), 2007-2011
Table 14: Non-Life Insurance - Loss Ratio (%), 2011-2016
Table 15: Non-Life Insurance - Commissions and Expenses (ZAR Billion), 2007-2011
Table 16: Non-Life Insurance - Commissions and Expenses (ZAR Billion), 2011-2016
Table 17: Non-Life Insurance - Combined Ratio (%), 2007-2011
Table 18: Non-Life Insurance - Combined Ratio (%), 2011-2016
Table 19: Non-Life Insurance - Frauds and Crimes (ZAR Billion), 2007-2011
Table 20: Non-Life Insurance - Frauds and Crimes (ZAR Billion), 2011-2016
Table 21: Non-Life Insurance - Total Assets (ZAR Billion), 2007-2011
Table 22: Non-Life Insurance - Total Assets (ZAR Billion), 2011-2016
Table 23: Non-Life Insurance - Total Investment Income (ZAR Billion), 2007-2011
Table 24: Non-Life Insurance - Total Investment Income (ZAR Billion), 2011-2016
Table 25: Non-Life Insurance - Retentions (ZAR Billion), 2007-2011
Table 26: Non-Life Insurance - Retentions (ZAR Billion), 2011-2016
Table 27: Property Insurance Written Premium by Sub-Category (ZAR Billion), 2007-2011
Table 28: Property Insurance Written Premium by Sub-Category (US$ Billion), 2007-2011
Table 29: Property Insurance Written Premium by Sub-Category (ZAR Billion), 2011-2016
Table 30: Property Insurance Written Premium by Sub-Category (US$ Billion), 2011-2016
Table 31: Fire and Allied Perils Insurance Sub-Category by Volume ('000), 2007-2011
Table 32: Fire and Allied Perils Insurance Sub-Category by Volume ('000), 2011-2016
Table 33: Fire and Allied Perils Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Table 34: Fire and Allied Perils Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Table 35: Engineering Insurance Sub-Category by Volume ('000), 2007-2011
Table 36: Engineering Insurance Sub-Category by Volume ('000), 2011-2016
Table 37: Engineering Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Table 38: Engineering Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Table 39: Agriculture Insurance Sub-Category by Volume ('000), 2007-2011
Table 40: Agriculture Insurance Sub-Category by Volume ('000), 2011-2016
Table 41: Agriculture Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Table 42: Agriculture Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Table 43: Other Property Insurance Sub-Category by Volume ('000), 2007-2011
Table 44: Other Property Insurance Sub-Category by Volume ('000), 2011-2016
Table 45: Other Property Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Table 46: Other Property Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Table 47: Motor Hull Insurance Sub-Category by Volume ('000), 2007-2011
Table 48: Motor Hull Insurance Sub-Category by Volume ('000), 2011-2016
Table 49: Motor Hull Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Table 50: Motor Hull Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Table 51: General Third-Party Insurance Category by Volume ('000), 2007-2011
Table 52: General Third-Party Insurance Category by Volume ('000), 2011-2016
Table 53: General Third-Party Liability Insurance Category by Written Premium (ZAR Billion), 2007-2011
Table 54: General Third-Party Liability Insurance Category by Written Premium (ZAR Billion), 2011-2016
Table 55: Marine, Aviation and Transit Insurance Written Premium by Sub-Category (ZAR Billion), 2007-2011
Table 56: Marine, Aviation and Transit Insurance Written Premium by Sub-Category (US$ Billion), 2007-2011
Table 57: Marine, Aviation and Transit Insurance Written Premium by Sub-Category (ZAR Billion), 2011-2016
Table 58: Marine, Aviation and Transit Insurance Written Premium by Sub-Category (US$ Billion), 2011-2016
Table 59: Marine Insurance Sub-Category by Volume ('000), 2007-2011
Table 60: Marine Insurance Sub-Category by Volume ('000), 2011-2016
Table 61: Marine Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Table 62: Marine Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Table 63: Aviation Insurance Sub-Category by Volume ('000), 2007-2011
Table 64: Aviation Insurance Sub-Category by Volume ('000), 2011-2016
Table 65: Aviation Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Table 66: Aviation Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Table 67: Transit Insurance Sub-Category by Volume ('000), 2007-2011
Table 68: Transit Insurance Sub-Category by Volume ('000), 2011-2016
Table 69: Transit Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Table 70: Transit Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Table 71: Non-Life Insurance - Direct Marketing Commission Paid (ZAR Billion), 2007-2011
Table 72: Non-Life Insurance - Direct Marketing Commission Paid (ZAR Billion), 2011-2016
Table 73: Non-Life Insurance - Written Premium Through Direct Marketing (ZAR Billion), 2007-2011
Table 74: Non-Life Insurance - Written Premium Through Direct Marketing (ZAR Billion), 2011-2016
Table 75: Non-Life Insurance - Policies Sold Through Direct Marketing ('000), 2007-2011
Table 76: Non-Life Insurance - Policies Sold Through Direct Marketing ('000), 2011-2016
Table 77: Non-Life Insurance - Number of Direct Marketing Distributors, 2007-2011
Table 78: Non-Life Insurance - Number of Direct Marketing Distributors, 2011-2016
Table 79: Non-Life Insurance - Bancassurance Commission Paid (ZAR Billion), 2007-2011
Table 80: Non-Life Insurance - Bancassurance Commission Paid (ZAR Billion), 2011-2016
Table 81: Non-Life Insurance - Written Premium Through Bancassurance (ZAR Billion), 2007-2011
Table 82: Non-Life Insurance - Written Premium Through Bancassurance (ZAR Billion), 2011-2016
Table 83: Non-Life Insurance - Policies Sold Through Bancassurance ('000), 2007-2011
Table 84: Non-Life Insurance- Policies Sold Through Bancassurance ('000), 2011-2016
Table 85: Non-Life Insurance - Number of Bancassurance Distributors, 2007-2011
Table 86: Non-Life Insurance - Number of Bancassurance Distributors, 2011-2016
Table 87: Non-Life Insurance - Agencies Commission Paid (ZAR Billion), 2007-2011
Table 88: Non-Life Insurance - Agencies Commission Paid (ZAR Billion), 2011-2016
Table 89: Non-Life Insurance - Written Premium Through Agencies (ZAR Billion), 2007-2011
Table 90: Non-Life Insurance - Written Premium Through Agencies (ZAR Billion), 2011-2016
Table 91: Non-Life Insurance - Policies Sold Through Agencies ('000), 2007-2011
Table 92: Non-Life Insurance - Policies Sold Through Agencies ('000), 2011-2016
Table 93: Non-Life Insurance - Number of Agencies, 2007-2011
Table 94: Non-Life Insurance - Number of Agencies, 2011-2016
Table 95: Non-Life Insurance - Commission Paid to Other Channels (ZAR Billion), 2007-2011
Table 96: Non-Life Insurance - Commission Paid to Other Channels (ZAR Billion), 2011-2016
Table 97: Non-Life Insurance - Written Premium Through Other Channels (ZAR Billion), 2007-2011
Table 98: Non-Life Insurance - Written Premium Through Other Channels (ZAR Billion), 2011-2016
Table 99: Non-Life Insurance - Policies Sold Through Other Channels ('000), 2007-2011
Table 100: Non-Life Insurance - Policies Sold Through Other Channels ('000), 2011-2016
Table 101: Non-Life Insurance - Number of Distributors in Other Channels, 2007-2011
Table 102: Non-Life Insurance - Number of Distributors in Other Channels, 2011-2016

LIST OF FIGURES

Figure 1: South African Insurance Overall Written Premium by Segment (ZAR Billion), 2007-2016
Figure 2: South Africa Insurance Market Dynamics by Segment, 2007-2016
Figure 3: Non-Life Insurance Written Premium by Category (ZAR Billion), 2007-2016
Figure 4: Non-Life Insurance Written Premium by Category (% Share), 2011 and 2016
Figure 5: Non-Life Insurance Market Dynamics by Category, 2007-2016
Figure 6: Non-Life Insurance - Incurred Loss (ZAR Billion), 2007-2011
Figure 7: Non-Life Insurance - Incurred Loss (ZAR Billion), 2011-2016
Figure 8: Non-Life Insurance - Loss Ratio (%), 2007-2011
Figure 9: Non-Life Insurance - Loss Ratio (%), 2011-2016
Figure 10: Non-Life Insurance - Commissions and Expenses (ZAR Billion), 2007-2011
Figure 11: Non-Life Insurance - Commissions and Expenses (ZAR Billion), 2011-2016
Figure 12: Non-Life Insurance - Combined Ratio (%), 2007-2011
Figure 13: Non-Life Insurance - Combined Ratio (%), 2011-2016
Figure 14: Non-Life Insurance - Frauds and Crimes (ZAR Billion), 2007-2011
Figure 15: Non-Life Insurance - Frauds and Crimes (ZAR Billion), 2011-2016
Figure 16: Non-Life Insurance - Total Assets (ZAR Billion), 2007-2011
Figure 17: Non-Life Insurance - Total Assets (ZAR Billion), 2011-2016
Figure 18: Non-Life Insurance - Total Investment Income (ZAR Billion), 2007-2011
Figure 19: Non-Life Insurance - Total Investment Income (ZAR Billion), 2011-2016
Figure 20: Non-Life Insurance - Retentions (ZAR Billion), 2007-2011
Figure 21: Non-Life Insurance - Retentions (ZAR Billion), 2011-2016
Figure 22: Non-Life Insurance - Investment by Type (ZAR Billion), 2007-2011
Figure 23: Non-Life Insurance - Investment by Type (% Share), 2007 and 2011
Figure 24: Non-Life Insurance - Penetration (%), 2007-2011
Figure 25: Non-Life Insurance - Number of Policies Sold ('000), 2007-2011
Figure 26: Non-Life Insurance - Number of Policies Sold ('000), 2011-2016
Figure 27: Non-Life Insurance - Premium Per Capita (ZAR), 2007-2011
Figure 28: Property Insurance Written Premium (ZAR Billion) by Sub-Category, 2007-2016
Figure 29: Property Insurance Market Dynamics, by Sub-Category, 2007-2016
Figure 30: Fire and Allied Perils Insurance Sub-Category by Volume ('000), 2007-2011
Figure 31: Fire and Allied Perils Insurance Sub-Category by Volume ('000), 2011-2016
Figure 32: Fire and Allied Perils Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Figure 33: Fire and Allied Perils Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Figure 34: Engineering Insurance Sub-Category by Volume ('000), 2007-2011
Figure 35: Engineering Insurance Sub-Category by Volume ('000), 2011-2016
Figure 36: Engineering Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Figure 37: Engineering Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Figure 38: Agriculture Insurance Sub-Category by Volume ('000), 2007-2011
Figure 39: Agriculture Insurance Sub-Category by Volume ('000), 2011-2016
Figure 40: Agriculture Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Figure 41: Agriculture Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Figure 42: Other Property Insurance Sub-Category by Volume ('000), 2007-2011
Figure 43: Other Property Insurance Sub-Category by Volume ('000), 2011-2016
Figure 44: Other Property Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Figure 45: Other Property Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Figure 46: Motor Hull Insurance Sub-Category by Volume ('000), 2007-2011
Figure 47: Motor Hull Insurance Sub-Category by Volume ('000), 2011-2016
Figure 48: Motor Hull Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Figure 49: Motor Hull Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Figure 50: General Third-Party Insurance Category by Volume ('000), 2007-2011
Figure 51: General Third-Party Insurance Category by Volume ('000), 2011-2016
Figure 52: General Third-Party Liability Insurance Category by Written Premium (ZAR Billion), 2007-2011
Figure 53: General Third-Party Liability Insurance Category by Written Premium (ZAR Billion), 2011-2016
Figure 54: Marine, Aviation and Transit Insurance Written Premium (ZAR Billion), by Sub-Category, 2007-2016
Figure 55: Marine, Aviation and Transit Insurance Market Dynamics by Sub-Category, 2007-2016
Figure 56: Marine Insurance Sub-Category by Volume ('000), 2007-2011
Figure 57: Marine Insurance Sub-Category by Volume ('000), 2011-2016
Figure 58: Marine Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Figure 59: Marine Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Figure 60: Aviation Insurance Sub-Category by Volume ('000), 2007-2011
Figure 61: Aviation Insurance Sub-Category by Volume ('000), 2011-2016
Figure 62: Aviation Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Figure 63: Aviation Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Figure 64: Transit Insurance Sub-Category by Volume ('000), 2007-2011
Figure 65: Transit Insurance Sub-Category by Volume ('000), 2011-2016
Figure 66: Transit Insurance Sub-Category by Written Premium (ZAR Billion), 2007-2011
Figure 67: Transit Insurance Sub-Category by Written Premium (ZAR Billion), 2011-2016
Figure 68: Non-Life Insurance New Business Written Premium - Market Shares by Distribution Channel, 2011 and 2016
Figure 69: Non-Life Insurance - Direct Marketing Commission Paid (ZAR Billion), 2007-2011
Figure 70: Non-Life Insurance - Direct Marketing Commission Paid (ZAR Billion), 2011-2016
Figure 71: Non-Life Insurance - Written Premium Through Direct Marketing (ZAR Billion), 2007-2011
Figure 72: Non-Life Insurance - Written Premium Through Direct Marketing (ZAR Billion), 2011-2016
Figure 73: Non-Life Insurance - Policies Sold Through Direct Marketing ('000), 2007-2011
Figure 74: Non-Life Insurance - Policies Sold Through Direct Marketing ('000), 2011-2016
Figure 75: Non-Life Insurance - Number of Direct Marketing Distributors 2007-2011
Figure 76: Non-Life Insurance - Number of Direct Marketing Distributors, 2011-2016
Figure 77: Non-Life Insurance - Bancassurance Commission Paid (ZAR Billion), 2007-2011
Figure 78: Non-Life Insurance - Bancassurance Commission Paid (ZAR Billion), 2011-2016
Figure 79: Non-Life Insurance - Written Premium Through Bancassurance (ZAR Billion), 2007-2011
Figure 80: Non-Life Insurance - Written Premium Through Bancassurance (ZAR Billion), 2011-2016
Figure 81: Non-Life Insurance - Policies Sold Through Bancassurance ('000), 2007-2011
Figure 82: Non-Life Insurance - Policies Sold Through Bancassurance ('000), 2011-2016
Figure 83: Non-Life Insurance - Number of Bancassurance Distributors, 2007-2011
Figure 84: Non-Life Insurance - Number of Bancassurance Distributors, 2011-2016
Figure 85: Non-Life Insurance - Agencies Commission Paid (ZAR Billion), 2007-2011
Figure 86: Non-Life Insurance - Agencies Commission Paid (ZAR Billion), 2011-2016
Figure 87: Non-Life Insurance - Written Premium Through Agencies (ZAR Billion), 2007-2011
Figure 88: Non-Life Insurance - Written Premium Through Agencies (ZAR Billion), 2011-2016
Figure 89: Non-Life Insurance - Policies Sold Through Agencies ('000), 2007-2011
Figure 90: Non-Life Insurance - Policies Sold Through Agencies ('000), 2011-2016
Figure 91: Non-Life Insurance - Number of Agencies, 2007-2011
Figure 92: Non-Life Insurance - Number of Agencies, 2011-2016
Figure 93: Non-Life Insurance - Commission Paid to Other Channels (ZAR Billion), 2007-2011
Figure 94: Non-Life Insurance - Commission Paid to Other Channels (ZAR Billion), 2011-2016
Figure 95: Non-Life Insurance - Written Premium Through Other Channels (ZAR Billion), 2007-2011
Figure 96: Non-Life Insurance - Written Premium Through Other Channels (ZAR Billion), 2011-2016
Figure 97: Non-Life Insurance - Policies Sold Through Other Channels ('000), 2007-2011
Figure 98: Non-Life Insurance - Policies Sold Through Other Channels ('000), 2011-2016
Figure 99: Non-Life Insurance - Number of Distributors in Other Channels, 2007-2011
Figure 100: Non-Life Insurance - Number of Distributors in Other Channels, 2011-2016

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