Summary
Life Insurance & Pension in South Africa industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Life insurance is the financial cover for a contingency linked with human life, like death, disability, accident, retirement, etc. Human life is subject to risks of death and disability due to natural and accidental causes. When human life is lost or a person is disabled permanently or temporarily, there is a loss of income to the household.
- The South African life insurance & pension market recorded gross written premiums of $39 billion in 2024, representing a compound annual growth rate (CAGR) of 0.7% between 2019 and 2024.
- The life insurance segment accounted for the market's largest proportion in 2024, with total gross written premiums of $30.2 billion, equivalent to 77.5% of the market's overall value.
- In 2024, South Africa accounted for 73.0% share of the Middle East & Africa life insurance & pension market.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance & pension market in South Africa
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance & pension market in South Africa
- Leading company profiles reveal details of key life insurance & pension market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Africa life insurance & pension market with five year forecasts
Reasons to Buy
- What was the size of the South Africa life insurance & pension market by value in 2024?
- What will be the size of the South Africa life insurance & pension market in 2029?
- What factors are affecting the strength of competition in the South Africa life insurance & pension market?
- How has the market performed over the last five years?
- What are the main segments that make up South Africa's life insurance & pension market?
'
Table of Contents
1 Executive Summary
1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive landscape
2 Market Overview
2.1. Market definition
2.2. Market analysis
3 Market Data
3.1. Market value
4 Market Segmentation
4.1. Category segmentation
4.2. Geography segmentation
5 Market Outlook
5.1. Market value forecast
6 Five Forces Analysis
6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry
7 Competitive Landscape
7.1. Market share
7.2. Who are the leading players?
7.3. What are the strengths and strategies of the leading players?
7.4. What are the recent developments in the market?
8 Company Profiles
8.1. Liberty Group Ltd
8.2. Hollard Insurance Group
8.3. Guardrisk Insurance Company Ltd
8.4. Old Mutual Life Assurance Company (South Africa) Limited
9 Macroeconomic Indicators
9.1. Country data
10 Appendix
10.1. Methodology
10.2. Industry associations
10.3. Related MarketLine research
10.4. About MarketLine
List of Tables
Table 1: South Africa life insurance & pension market value: $ billion, 2019-24
Table 2: South Africa life insurance & pension market category segmentation: % share, by value, 2019-24
Table 3: South Africa life insurance & pension market category segmentation: $ billion, 2019-24
Table 4: South Africa life insurance & pension market geography segmentation: $ billion, 2024
Table 5: South Africa life insurance & pension market value forecast: $ billion, 2024-29
Table 6: South Africa life insurance & pension market share: % share, by value, 2024
Table 7: Liberty Group Ltd: Key Facts
Table 8: Liberty Group Ltd: Key Employees
Table 9: Hollard Insurance Group: Key Facts
Table 10: Hollard Insurance Group: Key Employees
Table 11: Guardrisk Insurance Company Ltd: Key Facts
Table 12: Guardrisk Insurance Company Ltd: Key Employees
Table 13: Old Mutual Life Assurance Company (South Africa) Limited: Key Facts
Table 14: South Africa Size of Population (Million), 2020-23
Table 15: South Africa Real GDP (Constant 2010 Prices, $ Billion), 2020-24
Table 16: South Africa GDP (Current Prices, $ Billion), 2020-24
Table 17: South Africa Inflation, 2020-23
Table 18: South Africa Consumer Price Index (Absolute), 2020-24
Table 19: South Africa Exchange Rate, 2019-24
List of Figures
Figure 1: South Africa life insurance & pension market value: $ billion, 2019-24
Figure 2: South Africa life insurance & pension market category segmentation: $ billion, 2019-24
Figure 3: South Africa life insurance & pension market geography segmentation: % share, by value, 2024
Figure 4: South Africa life insurance & pension market value forecast: $ billion, 2024-29
Figure 5: Forces driving competition in the life insurance & pension market in South Africa, 2024
Figure 6: Drivers of buyer power in the life insurance & pension market in South Africa, 2024
Figure 7: Drivers of supplier power in the life insurance & pension market in South Africa, 2024
Figure 8: Factors influencing the likelihood of new entrants in the life insurance & pension market in South Africa, 2024
Figure 9: Factors influencing the threat of substitutes in the life insurance & pension market in South Africa, 2024
Figure 10: Drivers of degree of rivalry in the life insurance & pension market in South Africa, 2024
Figure 11: South Africa life insurance & pension market share: % share, by value, 2024
