DUBLIN–(BUSINESS WIRE)–The “The Life Insurance Industry Including Reinsurance in South Africa 2019” report has been added to ResearchAndMarkets.com’s offering.
This report provides a comprehensive overview of the insurance and reinsurance sector in South Africa and on the continent with industry statistics largely covering 2017. There are detailed profiles of 43 companies including major insurers Old Mutual, MMI, Liberty and Sanlam, direct life insurers such as Clientle Life, 1Life and OUTsurance and reinsurers such as Munich Re and Swiss Re.
The Life Insurance Industry Including Reinsurance: With total assets of R3.1-trillion at 30 September 2018, South Africa’s life insurance industry is the largest on the African continent. The industry contributed R469bn to the local economy through total benefit payments to policyholders and beneficiaries during 2017. Individual benefits, amounting to R207.5bn, showed minimal year-on-year growth, but the increase in critical illness and murders in South Africa are a potential driver of future increases in benefits paid. Death claims, which made up 78.5% of risk claims, decreased by 1.2% over the 12-months to 30 June 2018.
Industry Transformation: The industry is in a transformational phase as a new regulatory regime is being implemented. Technological change is another driver of the transformation with the rise of insurtech startups widely regarded as a major industry disruptor. Commentators believe the implementation of the Treating Customers Fairly framework and other new regulations will have a profound effect on the market. The entry of non-traditional players such as banks, telecoms companies, undertakers and funeral parlours and retailers has served to increase the competitiveness of the industry.
2. Description of the Industry
2.1. Industry Supply Chain
2.2. Geographic Position
3. Size of the Industry
4. State of the Industry
4.1.1. Corporate Actions
4.1.3. Enterprise Development and Social Economic Development
5. Influencing Factors
5.1. Economic Environment
5.2. Investment Performance
5.3. Financial Inclusion
5.4. Environmental, Social and Governance (ESG)
5.5. Operating Costs
5.8. Information Technology (IT), Research & Development (R&D) and Innovation
5.11. Climate Change and Extreme Weather
5.12. Fraudulent Claims
6.1. Barriers To Entry
7. SWOT Analysis
9. Industry Associations
Appendix 1 – Summary Of Notable Players
Appendix 2 – Classes and Sub-Classes of Insurance Business for Life Insurance under Schedule 2 of the Insurance Act, 2017
For more information about this report visit https://www.researchandmarkets.com/research/sbbqbc/the_life?w=4