South African Insurance Industry Forecast till 2012

Table of Contents

1. Analyst View

2. Insurance Industry - Emerging Markets

• 2.1 Top Ten Emerging Insurance Markets
  • 2.1.1 Life Insurance
  • 2.1.2 Non-life Insurance

3. South Africa - What Makes it Attractive for Insurance Market?

• 3.1 Government Initiatives
• 3.2 Increasing Violence & Crime Rate
• 3.3 Rising Disposable Income
• 3.4 Growth in Employment
• 3.5 Surging Population

4. South Africa Insurance Industry

• 4.1 Overview
• 4.2 Performance
  • 4.2.1 Long Term Insurance
    • 4.2.1.1 Overview
    • 4.2.1.2 Income
      • 4.2.1.2.1 Individual Premium Income
      • 4.2.1.2.2 Group Schemes & Pension Funds Income
      • 4.2.1.2.3 Investment Income
    • 4.2.1.3 Claims, Expenses & Taxes
    • 4.2.1.4 Premium Spread
    • 4.2.1.5 Premium - By Insurers
      • 4.2.1.5.1 Typical Insurers
      • 4.2.1.5.2 Niche Insurers
      • 4.2.1.5.3 Link Investment Insurers
      • 4.2.1.5.4 Cell Captive Insurers
      • 4.2.1.5.5 Assistance Insurers
  • 4.2.2 Short Term Insurance
    • 4.2.2.1 Overview
    • 4.2.2.2 Premium - By Insurers
      • 4.2.2.2.1 Typical Insurers
      • 4.2.2.2.2 Cell Captive Insurers
      • 4.2.2.2.3 Niche Insurers
      • 4.2.2.2.4 Captive Insurers
    • 4.2.2.3 Premium - By Products
      • 4.2.2.3.1 Motor Insurance
      • 4.2.2.3.2 Homeowner Insurance
      • 4.2.2.3.3 Household Contents Insurance
      • 4.2.2.3.4 Liability Insurance
      • 4.2.2.3.5 Engineering Insurance
  • 4.2.3 Reinsurance

5. New Growth Avenues

• 5.1 Banking & Other Financial Institutions
• 5.2 Outsourcing Market
• 5.3 IT Market
• 5.4 Homeowner Insurance
• 5.5 Motor Insurance

6. Challenges

• 6.1 Unfavorable Consumer Behavior
• 6.2 Non-disclosure & Misrepresentation
• 6.3 Mounting Complaints

7. Future Outlook (2007-2012)

• 7.1 Long Term Insurance
• 7.2 Short Term Insurance
• 7.3 Reinsurance

8. Key Players

• 8.1 Short Term Insurers
  • 8.1.1 Santam Limited
  • 8.1.2 Mutual & Federal Insurance Company Limited
  • 8.1.3 Hollard Insurance Co. Limited
  • 8.1.4 Guardrisk
• 8.2 Long Term Insurers
  • 8.2.1 Old Mutual South Africa (OMSA)
  • 8.2.2 Sanlam Limited
  • 8.2.3 Liberty Group Limited

List of Figures:

• Figure 2-1: Emerging Markets - Life & Non-life Insurance Premium (in Billion US$), 2004 & 2005
• Figure 2-2: Emerging Markets - Life Insurance Premium by Country (%), 2005
• Figure 2-3: South Africa - Share in Life Insurance Market of Africa (%), 2006
• Figure 2-4: Emerging Markets - Non-life Insurance Premium by Country (%), 2005
• Figure 2-5: South Africa - Share in Non-life Insurance Market of Africa (%), 2006
• Figure 3-1: South Africa - Per Head Disposable Income (in US$), 2002-2005
• Figure 3-2: South Africa - Employment Growth (in Million), 2003-2006
• Figure 3-3: South Africa - Population (in Million), 2001-2006
• Figure 4-1: South Africa - Long Term (Life) Insurance Income (in Billion ZAR), 2005 & 2006
• Figure 4-2: South Africa - Individual Premium Income of Long Term Insurers (in Million ZAR), 2002-2006
• Figure 4-3: South Africa - Group Schemes & Pension Funds Income of Long Term Insurers (in Million ZAR), 2002-2006
• Figure 4-4: South Africa - Investment Income of Long Term Insurers (in Million ZAR), 2002-2006
• Figure 4-5: South Africa - Claims, Expenses & Taxes Paid by Long Term Insurers (in Million ZAR), 2002-2006
• Figure 4-6: South Africa - Net Premium Spread for Long Term Insurance Market (%), 2005
• Figure 4-7: South Africa - Net Recurring Premium for Long Term Typical Insurers (in Million ZAR), 2002-2006
• Figure 4-8: South Africa - Non-recurring Premium for Long Term Typical Insurers (in Million ZAR), 2002-2006
• Figure 4-9: South Africa - Claims for Long Term Typical Insurers (%), 2002-2006
• Figure 4-10: South Africa - Individual Policy Lapse Rate for Long Term Typical Insurers (%), 2002- 2006
• Figure 4-11: South Africa - Recurring Premium for Long Term Niche Insurers (in Million ZAR), 2002-2006
• Figure 4-12: South Africa - Non-recurring Premium for Long Term Niche Insurers (in Million ZAR), 2002-2006
• Figure 4-13: South Africa - Claims for Long Term Niche Insurers (%), 2002-2006
• Figure 4-14: South Africa - Individual Policy Lapse Rate for Long Term Niche Insurers (%), 2002-2006
• Figure 4-15: South Africa - Recurring Premium for Long Term Link Investment Insurers (in Million ZAR), 2002-2006
• Figure 4-16: South Africa - Non-recurring Premium for Long Term Link Investment Insurers (in Million ZAR), 2002-2006
• Figure 4-17: South Africa - Claims for Long Term Link Investment Insurers (%), 2002-2006
• Figure 4-18: South Africa - Individual Policy Lapse Rate for Long Term Link Investment Insurers (%), 2002-2006
• Figure 4-19: South Africa - Recurring Premium for Long Term Cell Captive Insurers (in Million ZAR), 2002-2006
• Figure 4-20: South Africa - Non-recurring Premium for Long Term Cell Captive Insurers (in Million ZAR), 2002-2006
• Figure 4-21: South Africa - Claims for Long Term Cell Captive Insurers (%), 2002-2006
• Figure 4-22: South Africa - Recurring Premium for Long Term Assistance Insurers (in Million ZAR), 2002-2006
• Figure 4-23: South Africa - Non-recurring Premium for Long Term Assistance Insurers (in Million ZAR), 2002-2006
• Figure 4-24: South Africa - Claims for Long Term Assistance Insurers (%), 2002-2006
• Figure 4-25: South Africa - Individual Policy Lapse Rate for Long Term Assistance Insurers (%), 2002-2006
• Figure 4-26: South Africa - Net Premium by Type of Insurers for Short Term Insurance (%), 2006
• Figure 4-27: South Africa - Net Premium for Short Term Typical Insurers (in Million ZAR), 2002-2006
• Figure 4-28: South Africa - Underwriting Profit for Short Term Typical Insurers (in Million ZAR), 2002-2006
• Figure 4-29: South Africa - Underwriting & Investment Income for Short Term Typical Insurers (in Million ZAR), 2002-2006
• Figure 4-30: South Africa - Claims for Short Term Typical Insurers (%), 2002-2006
• Figure 4-31: South Africa - Net Premium for Short Term Cell Captive Insurers (in Million ZAR), 2002-2006
• Figure 4-32: South Africa - Underwriting Profit for Short Term Cell Captive Insurers (in Million ZAR), 2002-2006
• Figure 4-33: South Africa - Underwriting & Investment Income for Short Term Cell Captive Insurers (in Million ZAR), 2002-2006
• Figure 4-34: South Africa - Claims for Short Term Cell Captive Insurers (%), 2002-2006
• Figure 4-35: South Africa - Net Premium for Short Term Niche Insurers (in Million ZAR), 2002-2006
• Figure 4-36: South Africa - Underwriting Profit for Short Term Niche Insurers (in Million ZAR), 2002-2006
• Figure 4-37: South Africa - Underwriting & Investment Income for Short Term Niche Insurers (in Million ZAR), 2002-2006
• Figure 4-38: South Africa - Claims for Short Term Niche Insurers (%), 2002-2006
• Figure 4-39: South Africa - Net Premium for Short Term Captive Insurers (in Million ZAR), 2002-2006
• Figure 4-40: South Africa - Underwriting Profit for Short Term Captive Insurers (in Million ZAR), 2002-2006
• Figure 4-41: South Africa - Underwriting & Investment Income for Short Term Captive Insurers (in Million ZAR), 2002-2006
• Figure 4-42: South Africa - Claims for Short Term Captive Insurers (%), 2002-2006
• Figure 4-43: South Africa - Net Premium Spread for Short Term Insurance by Product (%), 2005
• Figure 4-44: South Africa - Passenger Cars & Commercial Vehicle Registration (in ‘000 Units), 2002-2006
• Figure 4-45: South Africa - Mortgage Advances (in Billion ZAR), 2002-2006
• Figure 4-46: South Africa - Recurring Reinsurance Premium (in Million ZAR), 2002-2006
• Figure 4-47: South Africa - Non-recurring Reinsurance Premium (in Million ZAR), 2002-2006
• Figure 4-48: South Africa - Reinsurance Claims (%), 2002-2006
• Figure 5-1: South Africa - Investment Spread for Short Term Insurers (%), 2005
• Figure 5-2: South Africa - Investment Spread for Long Term Insurers (%), 2005
• Figure 5-3: South Africa - Forecast for Passenger Car Registration (in ‘000 Units), 2007-2011
• Figure 5-4: South Africa - Forecast for Commercial Vehicle Registration (in ‘000 Units), 2007-2011
• Figure 6-1: South Africa - Formal Complaints Received against Short Term Insurers (in Numbers), 2003-2006
• Figure 6-2: South Africa - Types of Complaints Received against Short Term Insurers (%), 2006
• Figure 7-1: South Africa - Forecast for Net Premium of Long Term Insurers (in Million ZAR), 2007-2012
• Figure 7-2: South Africa - Forecast for Net Premium of Short Term Insurers (in Million ZAR), 2007-2012
• Figure 7-3: South Africa - Forecast for Reinsurance Premium (in Million ZAR), 2007-2012

List of Tables:

• Table 2-1: Emerging Markets - Top Ten Life Insurance Markets by Premium (in Million US$), 2005
• Table 2-2: Emerging Markets - Top Ten Non-life Insurance Markets by Premium (in Million US$), 2005
• Table 4-1: South Africa - Number of Insurance Companies by Segments (June 2006)
• Table 4-2: South Africa - Number of Short Term Insurers by Type (March 2005 & March 2006)
• Table 4-3: South Africa - Number of Short Term & Composite Reinsurers (March 2005 & March 2006)
• Table 8-1: Santam Limited - Key Financials (in Million ZAR), 2005 & 2006
• Table 8-2: Mutual & Federal Insurance Company Limited - Key Financials (in Million ZAR), 2005 & 2006
• Table 8-3: Hollard Insurance Co. Limited - Key Financials (in ‘000 ZAR), 2005 & 2006
• Table 8-4: Guardrisk - Key Financials (in Million ZAR), 2005 & 2006
• Table 8-5: Old Mutual South Africa - Key Financials (in Million ZAR), 2005 &2006
• Table 8-6: Sanlam Limited - Key Financials (in Million ZAR), 2005 & 2006
• Table 8-7: Liberty Group Limited - Key Financials (in Million ZAR), 2006 & June 2007