The South African insurance market remains resilient despite uncertainties

According to Standard & Poor’s (S&P), South African insurers are expected to remain resilient to geopolitical, economic, and climate-related uncertainties.

The life market would record an increase of between 3.5 and 4.5% of its turnover over the next two years.

The growth rate of non-life premiums is estimated at 5% for the next 24 months.

The rating agency expects that local insurance companies' profitability and shareholder's equity will remain strong.

Prudent risk management and robust regulatory frameworks are among the factors that will support the sector's stability.