Life Insurance in South Africa
Life Insurance in South Africa
Summary
Life Insurance in South Africa industry profile provides top-line qualitative and quantitative summary information including: 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
Summary
Life Insurance in South Africa industry profile provides top-line qualitative and quantitative summary information including: 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 value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2019 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
- The South African life insurance market is expected to generate total gross written premiums of $34.8bn in 2020, representing a compound annual growth rate (CAGR) of 0.9% between 2016 and 2020.
- The life insurance segment is expected to be the market's most lucrative in 2020, with total gross written premiums of $22.3bn, equivalent to 64.2% of the market's overall value.
- One of the main drivers of life insurance spending is consumer confidence. If consumers are confident in their economic ability and the long-term economic prospects of their country, then they are very unlikely to buy life insurance.
- 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 by both value and volume
- What was the size of the South Africa life insurance market by value in 2020?
- What will be the size of the South Africa life insurance market in 2025?
- 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?
- What are the main segments that make up South Africa's life insurance market?
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 is the rationale for the 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 Investment Group (Pty) 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
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 is the rationale for the 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 Investment Group (Pty) 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 life insurance market value: $ billion, 2016-20(e)
Table 2: South Africa life insurance market category segmentation: $ billion, 2020(e)
Table 3: South Africa life insurance market geography segmentation: $ billion, 2020(e)
Table 4: South Africa life insurance market value forecast: $ billion, 2020-25
Table 5: South Africa life insurance market share: % share, by value, 2020(e)
Table 6: Santam Ltd: key facts
Table 7: Santam Ltd: Key Employees
Table 8: Hollard Insurance Group: key facts
Table 9: Hollard Insurance Group: Key Employees
Table 10: Guardrisk Insurance Company Ltd: key facts
Table 11: Guardrisk Insurance Company Ltd: Key Employees
Table 12: Old Mutual Investment Group (Pty) Ltd: key facts
Table 13: Old Mutual Investment Group (Pty) Ltd: Key Employees
Table 14: South Africa size of population (million), 2016-20
Table 15: South Africa gdp (constant 2005 prices, $ billion), 2016-20
Table 16: South Africa gdp (current prices, $ billion), 2016-20
Table 17: South Africa inflation, 2016-20
Table 18: South Africa consumer price index (absolute), 2016-20
Table 19: South Africa exchange rate, 2015-19
Table 1: South Africa life insurance market value: $ billion, 2016-20(e)
Table 2: South Africa life insurance market category segmentation: $ billion, 2020(e)
Table 3: South Africa life insurance market geography segmentation: $ billion, 2020(e)
Table 4: South Africa life insurance market value forecast: $ billion, 2020-25
Table 5: South Africa life insurance market share: % share, by value, 2020(e)
Table 6: Santam Ltd: key facts
Table 7: Santam Ltd: Key Employees
Table 8: Hollard Insurance Group: key facts
Table 9: Hollard Insurance Group: Key Employees
Table 10: Guardrisk Insurance Company Ltd: key facts
Table 11: Guardrisk Insurance Company Ltd: Key Employees
Table 12: Old Mutual Investment Group (Pty) Ltd: key facts
Table 13: Old Mutual Investment Group (Pty) Ltd: Key Employees
Table 14: South Africa size of population (million), 2016-20
Table 15: South Africa gdp (constant 2005 prices, $ billion), 2016-20
Table 16: South Africa gdp (current prices, $ billion), 2016-20
Table 17: South Africa inflation, 2016-20
Table 18: South Africa consumer price index (absolute), 2016-20
Table 19: South Africa exchange rate, 2015-19
LIST OF FIGURES
Figure 1: South Africa life insurance market value: $ billion, 2016-20(e)
Figure 2: South Africa life insurance market category segmentation: % share, by value, 2020(e)
Figure 3: South Africa life insurance market geography segmentation: % share, by value, 2020(e)
Figure 4: South Africa life insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the life insurance market in South Africa, 2020
Figure 6: Drivers of buyer power in the life insurance market in South Africa, 2020
Figure 7: Drivers of supplier power in the life insurance market in South Africa, 2020
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in South Africa, 2020
Figure 9: Factors influencing the threat of substitutes in the life insurance market in South Africa, 2020
Figure 10: Drivers of degree of rivalry in the life insurance market in South Africa, 2020
Figure 11: South Africa life insurance market share: % share, by value, 2020(e)
COMPANIES MENTIONED
Santam Ltd
Hollard Insurance Group
Guardrisk Insurance Company Ltd
Old Mutual Investment Group (Pty) Ltd
Figure 1: South Africa life insurance market value: $ billion, 2016-20(e)
Figure 2: South Africa life insurance market category segmentation: % share, by value, 2020(e)
Figure 3: South Africa life insurance market geography segmentation: % share, by value, 2020(e)
Figure 4: South Africa life insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the life insurance market in South Africa, 2020
Figure 6: Drivers of buyer power in the life insurance market in South Africa, 2020
Figure 7: Drivers of supplier power in the life insurance market in South Africa, 2020
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in South Africa, 2020
Figure 9: Factors influencing the threat of substitutes in the life insurance market in South Africa, 2020
Figure 10: Drivers of degree of rivalry in the life insurance market in South Africa, 2020
Figure 11: South Africa life insurance market share: % share, by value, 2020(e)
COMPANIES MENTIONED
Santam Ltd
Hollard Insurance Group
Guardrisk Insurance Company Ltd
Old Mutual Investment Group (Pty) Ltd
