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| Population (1) (2024) : 64 007 187 inhabitants |
| GDP (1) (2024): 401.14 billion USD |
| GDP per capita (2024): 6 267 USD |
| GDP growth rate (1) (2024): 0.5% |
| Inflation rate (1) (2024): 4.4% |
(1) Source: World Bank
South African insurance market: main indicators in 2024
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| Turnover | 50.392 billion USD |
| Penetration rate | 12.6% |
| Insurance density | 787.3 USD |
South African insurance market structure
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| Market players | Nombre |
| Composite companies | 2 |
| Non-life companies | 67 |
| Life companies | 76 |
| Reinsurance companies | 7 |
| Total | 152 |
South African insurance market features
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| Regulatory authority: The Financial Sector Conduct Authority (FSCA) |
| Professional organization: South African Insurance Association (SAIA) |
South African insurance market: premium evolution
Figures in thousands USD
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| 2020 | 2021 | 2022 | 2023 | 2024 | Parts 2024 | |
| Non-life | 9 313 000 | 9 219 000 | 10 491 000 | 11 316 000 | 11 992 000 | 23.8% |
| Life | 36 094 000 | 37 602 000 | 36 860 000 | 36 765 000 | 38 400 000 | 76.2% |
| Total | 45 407 000 | 46 821 000 | 47 351 000 | 48 081 000 | 50 392 000 | 100% |
Exchange rate as at 31/12/2024: 1 ZAR= 0.05333 USD; at 31/12/2023: 1 ZAR= 0.0546 USD; at 31/12/2022: 1 ZAR= 0.05884 USD; at 31/12/2021: 1 ZAR= 0.06267 USD; at 31/12/2020: 1 ZAR= 0.06823 USD
Read also | Top 10 South African insurance companies
