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

November 2021 | 43 pages | ID: I46E1D5D875DEN
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Insurance in South Africa - Market Summary, Competitive Analysis and Forecast to 2025

SUMMARY

Insurance in South Africa industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 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 insurance market consists of the non-life and life insurance sectors. The value of the market is shown in terms of gross premium incomes.
  • The South African insurance market had total gross written premiums of $40.6bn in 2020, representing a compound annual growth rate (CAGR) of 2.7% between 2016 and 2020.
  • The life insurance segment was the market's most lucrative in 2020, with total gross written premiums of $33.3bn, equivalent to 81.8% 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 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 insurance market in South Africa
  • Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in South Africa
  • Leading company profiles reveal details of key insurance market players’ global operations and financial performance
  • Add weight to presentations and pitches by understanding the future growth prospects of the South Africa insurance market with five year forecasts by both value and volume
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  • How has the market performed over the last five years?
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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 MarketLine research
10.4. About MarketLine

LIST OF TABLES

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


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