Abstract
The market research report, "South African Insurance Industry Forecast till
2012", by RNCOS provides extensive research and in-depth analysis of the
insurance sector in South Africa. This report will help the client to evaluate
the leading-edge opportunities critical to the success of the insurance
industry in the country. Detailed analysis supplemented with data will help in
examining the evolving South African insurance market.
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. This forecast is based on a correlation between past market
growth and growth of base drivers.
Following conversions have been used in the report at the exchange rate of
given years:
- 1 ZAR = US$ 0.157603171 (As on December 31, 2005)
- 1 ZAR = US$ 0.1418701321 (As on December 31, 2006)
- 1 ZAR = US$ 0.157424855 (As on September 30, 2005)
Key Findings
- By net premium, the South African long-term and short-term insurance
market is expected to grow at the CAGR of nearly 12% and 17% respectively for
the period 2007-2012.
- South African reinsurance market is expected to grow at a CAGR of 12%
during 2007-2012 attributed to increasing natural disasters like earthquakes,
floods etc.
- Motor and property insurance accounted for over three-fourth of the total
short-term insurance market by net premium.
- Homeowner and motor insurance is anticipated to emerge as big opportunity
areas for the South African insurance market.
- Material non-disclosure and misrepresentation to continue to be
responsible for the highest number of fraud cases.
Key Issues & Facts
- Which factors will lead to the growth of long-term and short-term
insurance in South Africa?
- What are the emerging opportunities and challenges for the industry
players?
- What are the most prospective areas for investment in the insurance sector
in near future?
- What are the driving forces for the South African insurance industry?
- Who are the key players in the South African insurance market?
Key Players
This section talks about the key players operating in the South Africa
insurance industry, including Santam Limited, Mutual & Federal Insurance
Company Limited, Hollard Insurance and Guardrisk under Short-term Insurers.
Old Mutual Soputh Africa, Sanlam Limited and Liberty Group Limited under
Long-term Insurers.
Research Methodology Used
Information Sources
Information has been sourced from books, newspapers, trade journals, and white
papers, industry portals, government agencies, trade associations, monitoring
industry news and developments, and through access to over 3000 paid databases.
Analysis Methods
The analysis methods include ratio analysis, historical trend analysis, and
linear regression analysis using software tools, judgmental forecasting, and
cause and effect analysis.
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