South Africa Insurance Report Q4 2016

Publisher Name :
Date: 28-Sep-2016
No. of pages: 58

BMI View: The outlook for South Africa's insurance market is broadly positive. The market is home to both

large and well capitalised domestic providers and major multinationals which ensures that the product

offering, particularly in the larger life sector, is diverse and comprehensive. While the non-life sector

remains dominated by basic motor and property lines, we are also seeing positive growth in demand for

health and personal accident insurance, a trend we expect will gather pace over the medium term.

Downside risk does stem from South Africa's economic outlook, with both household and government

expenditure expected to come under significant pressure.

Key Updates And Forecasts

? Following the announcement earlier in the year that Zurich planned to exit the market, the group

confirmed in July 2016 that it agreed a sale of its holdings in South Africa and Botswana to Fairfax

Financial Holdings Limited.

? At present we are broadly maintaining our short-term forecasts for South Africa's large life insurance

segment. Premiums are forecast to grow by 6.9% in ZAR terms in 2016 to reach ZAR499.6bn. The

weakness of the rand against the strengthening dollar means this will translate to a fall of 12.7% in US

dollar terms to USD31.9bn.

South Africa Insurance Report Q4 2016

Table of Contents

BMI Industry View 5
Table: Headline Insurance Forecasts (South Africa 2013-2020) 5
SWOT 6
Insurance 6
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (South Africa 2013-2020) 10
Table: Life Insurance Claims (South Africa 2008-2014) 11
Non-Life Premiums Forecast 11
Table: Non-Life Premiums (South Africa 2013-2020) 14
Table: Non-Life Insurance Claims (South Africa 2009-2014) 15
Non-Life Sub-Sector Forecast 16
Table: Non-Life Insurance Premiums by Product Line (South Africa 2013-2020) 23
Insurance Risk/Reward Index 24
Sub-Saharan Africa Risk/Reward Index 24
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q416 24
Market Overview 26
Life Market Overview 26
Product Offering 26
Competitive Landscape 26
Table: Life Insurance Market (USDmn) 2008-2014 28
Non-Life Market Overview 29
Product Offering 29
Competitive Landscape 30
Table: Non-Life Insurance Market (USDmn) 2008-2014 32
Company Profile 34
Hollard 34
Liberty Holdings 37
MMI Holdings 41
Old Mutual 45
Sanlam Group 48
Methodology 52
Industry Forecast Methodology 52
Risk/Reward Index Methodology 55
Table: Indicators 57
Table: Weighting of Indicators 58

List of Tables

Table: Headline Insurance Forecasts (South Africa 2013-2020)
Table: Life Premiums (South Africa 2013-2020)
Table: Life Insurance Claims (South Africa 2008-2014)
Table: Non-Life Premiums (South Africa 2013-2020)
Table: Non-Life Insurance Claims (South Africa 2009-2014)
Table: Non-Life Insurance Premiums by Product Line (South Africa 2013-2020)
Table: Sub-Saharan Africa Insurance Risk/Reward Index - Q416
Table: Life Insurance Market (USDmn) 2008-2014
Table: Non-Life Insurance Market (USDmn) 2008-2014
Table: Indicators
Table: Weighting of Indicators
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