South Africa Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Non-Life Insurance in South Africa industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). 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 $9.8 billion in 2022, representing a compound annual growth rate (CAGR) of 4.4% between 2017 and 2022.
- The Motor segment accounted for market's the largest proportion in 2022, with total gross written premiums of $4.5 billion, equivalent to 46.5% of the market's overall value.
- According to IMF, the insurance market makes up 18% of South Africa's financial sector, making it a significant pillar of the country's financial system.
- 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
- What was the size of the South Africa non-life insurance market by value in 2022?
- What will be the size of the South Africa non-life insurance market in 2027?
- What factors are affecting the strength of competition in the South Africa non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up South Africa's non-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 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. Guardrisk Insurance Company Ltd
- 8.2. Hollard Insurance Group
- 8.3. Santam 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 non-life insurance market value: $ billion, 2017-22(e)
- Table 2: South Africa non-life insurance market category segmentation: % share, by value, 2017-2022(e)
- Table 3: South Africa non-life insurance market category segmentation: $ billion, 2017-2022
- Table 4: South Africa non-life insurance market geography segmentation: $ billion, 2022(e)
- Table 5: South Africa non-life insurance market value forecast: $ billion, 2022-27
- Table 6: South Africa non-life insurance market share: % share, by value, 2022(e)
- Table 7: Guardrisk Insurance Company Ltd: key facts
- Table 8: Guardrisk Insurance Company Ltd: Key Employees
- Table 9: Hollard Insurance Group: key facts
- Table 10: Hollard Insurance Group: Key Employees
- Table 11: Santam Ltd: key facts
- Table 12: Santam Ltd: Annual Financial Ratios
- Table 13: Santam Ltd: Key Employees
- Table 14: Santam Ltd: Key Employees Continued
- Table 15: Old Mutual Ltd: key facts
- Table 16: Old Mutual Ltd: Annual Financial Ratios
- Table 17: Old Mutual Ltd: Key Employees
- Table 18: South Africa size of population (million), 2018-22
- Table 19: South Africa gdp (constant 2005 prices, $ billion), 2018-22
- Table 20: South Africa gdp (current prices, $ billion), 2018-22
- Table 21: South Africa inflation, 2018-22
- Table 22: South Africa consumer price index (absolute), 2018-22
- Table 23: South Africa exchange rate, 2017-21
- List of Figures
- Figure 1: South Africa non-life insurance market value: $ billion, 2017-22(e)
- Figure 2: South Africa non-life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: South Africa non-life insurance market geography segmentation: % share, by value, 2022(e)
- Figure 4: South Africa non-life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the non-life insurance market in South Africa, 2022
- Figure 6: Drivers of buyer power in the non-life insurance market in South Africa, 2022
- Figure 7: Drivers of supplier power in the non-life insurance market in South Africa, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in South Africa, 2022
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in South Africa, 2022
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in South Africa, 2022
- Figure 11: South Africa non-life insurance market share: % share, by value, 2022(e)
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