Abstract
South Africa is known for its well-developed, highly liberalized financial
sector. Particularly, the insurance industry of the country is the most
developed in the entire African continent. As per our research report
“South African Insurance Industry Forecast to 2013”, South Africa
account for the bulk of the Africa' s total insurance business, i.e. a lion' s
share of around 85%. In this way, it has left Tanzania and other 51 African
countries with a collective share of merely 15%.
In the course of our research, we found that the South African insurance
industry showed a remarkable resilience to the economic turmoil of 2008 that
entangled most of the industries across the world. In fact, the long-term
insurance sector of the country continued the trend of positive growth during
this adverse time and registered about 11.5% growth rate during 2008. In
future also, it is anticipated to maintain the healthy growth rate.
Most importantly, the policyholders not only maintained their premiums for
life and disability insurance and fund policies in 2008, but they also
continued to increase them. The life insurance industry managed to attract new
individual recurring as well as single premiums of ZAR 65 Billion during 2008,
an increase of 14% over 2007.
The report also highlights that with the increased demand of medical, motor
and property insurance, short-term insurance industry is also set to rollout
tremendously in the coming years. By net premium, short-term insurance
industry is expected to grow at a CAGR of about 11% during 2009-2013. Growing
demand for liability and engineering insurance will favor the future growth.
“South African Insurance Industry Forecast to 2013” provides
extensive research and in-depth analysis of the insurance sector of South
Africa. The report will help clients to evaluate the leading-edge
opportunities critical to the success of the country' s insurance industry. It
also provides future outlook on the key segments of the industry, besides
shedding light on the key players in the industry (including both domestic as
well as foreign players).
The forecast given in the 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. This forecast is based on a correlation between past market growth and
growth of base drivers.
| 
View Cart
