South Africa

The country profile below provides information on population, gross domestic product, insurance premiums and leading insurers.

Insurance Association

South African Insurance Association
Web: www.sainsurance.co.za

 

POPULATION, 2011-2014 (1)

Year Population
2011 49,004,031
2012 48,810,427
2013 48,601,098
2014 48,375,645

(1) Estimated.

Source: U.S. Central Intelligence Agency.

 

 

GROSS DOMESTIC PRODUCT, 2009-2013 (1)

Year GDP
2009 $506.1
2010 488.6
2011 527.5
2012 554.6
2013 595.7

(1) Based on Purchasing Power Parity calculations, which take into account the relative cost of living and inflation rates of countries. GDP estimate for July for each year shown.

Source: U.S. Central Intelligence Agency.

 

 

LIFE AND NONLIFE INSURANCE PREMIUMS, 2014

(U.S. $ millions)

  Direct premiums written
Nonlife premiums (1) $9,375
Life premiums 39,785
Total premiums $49,159
Percent of total world premiums 1.03%

(1) Includes accident and health insurance.

Source: Swiss Re, sigma, No. 4/2015.

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LEADING NONLIFE INSURANCE COMPANIES, 2013

  Gross written premiums
Company ZAR Mn USD Mn
Santam 17,861.0 1,849.9
Mutual and Federal 8,895.9 921.4
Guardrisk 6,039.1 625.5
Hollard 5,870.3 608.0
OUTsurance 5,660.2 586.3
Zurich 3,805.9 394.2
ABSA 2,922.1 302.7
Centriq 2,322.2 240.5
Auto & General 2,312.5 239.5
Etana 2,268.6 235.0

Source: Axco Insurance Information Services.

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LEADING LIFE INSURANCE COMPANIES, 2013

  Gross written premiums
Company ZAR Mn USD Mn
Old Mutual Life 60,747.9 6,291.8
MMI Group 53,686.0 5,560.4
Investec Assurance Limited 43,541.1 4,509.7
Liberty 41,444.6 4,292.5
Sanlam Life Insurance Limited 38,598.4 3,997.7
Investment Solutions 28,107.1 2,911.1
Coronation Life 16,126.3 1,670.2
Allan Gray 12,716.4 1,317.1
Discovery Life 10,714.9 1,109.8
Sanlam Developing Markets 6,308.1 653.4

Source: Axco Insurance Information Services.

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