South Africa Insurance Report Q4 2015 - New Market Report

We have a positive outlook for both the South African life and non-life insurance markets through our five-year forecast period. On the back of strengthening economic growth, changes in the country's demographic structure, and developments in other sectors of the economy (e.g. construction), we foresee robust growth in both segments and attractive opportunities for domestic and foreign investors.

South Africa's life insurance market constitutes a substantial segment of the country's overall insurance sector, accounting for 82% of total written premiums in 2015. Also in terms of growth potential, life insurance is expected to outpace its non-life counterpart throughout the five-year forecast period - as it will grow by some 6.6% on average per year, leading to an increase of its market share to 83% in 2019. A number of important ongoing developments underpin this solid outlook for life insurance. As is commonly seen in most countries, South Africa will see the average life expectancy of its population increase in the next years on the back of government-induced improvements in the country's healthcare system, and access to medicines will consequently lead to growth of the retirement-aged population. Because this portion of the population is inherently more inclined to seek security as they grow older, these retirees will boost demand for life insurance solutions. In addition, as South Africa's economy strengthens, the middle class grows, and the population becomes more aware of the need and benefits of having life insurance, increasingly more people will be able to afford and boost demand for life policies. Accordingly, overall, there is considerable scope for future growth in South Africa's life insurance segment.

Full Report Details at
- http://www.fastmr.com/prod/1053004_south_africa_insurance_report.aspx?afid=301

The South Africa Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's South Africa Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the South African insurance industry.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for South Africa to test other views - a key input for successful budgeting and strategic business planning in South Africa's insurance market.
* Target business opportunities and risks in South Africa through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.

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