South Africa Insurance Report - Business Monitor International - Industry Reports

South Africa Insurance Report

South Africa Insurance Report - Business Monitor International - Industry Reports
South Africa Insurance Report
Published Sep 24, 2016
58 pages — Published Sep 24, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

The life insurance market in South Africa is considerably larger than the non-life sector, accounting for over -- of premiums written. The life market in South Africa is well established as a popular savings mechanism for those households which can afford it, and a broad range of life products are available, provided by large and secure life (and composite) insurance providers. ...The life insurance market in South Africa is considerably larger than the non-life sector, accounting for over -- of premiums written. The life market in South Africa is well established as a popular savings mechanism for those households which can afford it, and a broad range of life products are available, provided by large and secure life (and composite) insurance providers. There is some potential for growth through provision of (micro-) insurance products to first-time users among lower income groups, and there is potential for growth through expansion into other emerging markets in Sub-Saharan Africa. ...Supply is helped by the clear strengths of the South African majors. These include established brands, sophisticated multi-channel distribution strategies, access to capital, association with larger financial services groups, and clear ability to develop innovative and attractive offerings.

...The factors outlined above should cause premiums to rise by an average of -.- in ZAR terms each year during the forecast period. Weakness in the South African rand means growth will be much more measured in USD (ie, real) terms. ...Weakness in the South African rand means growth will be much more measured in USD (ie, real) terms. Given the strengths of the insurers, and the attractiveness of their offerings relative to the other investment opportunities, we would assess that the risks are to the upside. We note that the South African life insurers themselves normally focus on key performance indicators (KPIs) other than gross written premiums. ...

...South Africa is vulnerable to economic weakness in middle and lower household income in particular. The scale, brands, networks and distribution relationships of local giants are barriers to entry for foreign firms. ...The scale, brands, networks and distribution relationships of local giants are barriers to entry for foreign firms. A consistent downwards trend in non-life penetration underscores the lack of awareness/affordability relative to life insurance. Poor economic growth is weighing on the profitability of insurance companies as demand remains concurrently weak. ...

  
Source:
Document ID
1750-5763
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "South Africa Insurance Report" Sep 24, 2016. Alacra Store. Dec 07, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/South-Africa-Insurance-Report-2026-2653>
  
APA:
Business Monitor International - Industry Reports. (2016). South Africa Insurance Report Sep 24, 2016. New York, NY: Alacra Store. Retrieved Dec 07, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/South-Africa-Insurance-Report-2026-2653>
  
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