Munich Re and Hannover Re control 60% of the South African reinsurance market

assurance résultatsAccording to KPMG, the South African reinsurance market is dominated by Munich Reinsurance Company of Africa and Hannover Re Group (Hannover Reinsurance Africa and Hannover Life Reassurance Africa).

These three companies alone account for 60% of the sector's turnover reported in 2020.

Ranking of South African reinsurers per 2020 market shares

ReinsurersMarket shares
Munich Reinsurance Company of Africa42%38%
Hannover Reinsurance Africa
Hannover Life Reassurance Africa 
Swiss Re Africa18%19%
General Reinsurance Africa11%11%
African Reinsurance Corporation (South Africa)6%8%
Scor Africa 5%4%
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