South African insurance industry: Ranking of non-life insurers per 2017 per turnover
2017 written premiums | 2016 written premiums | 2016-2017 evolution (2) | |||
---|---|---|---|---|---|
In ZAR (1) | In USD | In ZAR (1) | In USD | ||
Santam | 24 500 000 | 1 983 030 | 22 469 000 | 1 646 304 | 9.04% |
Hollard Insurance (3) | 10 475 094 | 847 854 | 10 386 327 | 761 006 | 0.85% |
Old Mutual Insure | 8 751 000 | 708 306 | 8 718 000 | 638 768 | 0.38% |
OUTsurance Insurance (3) | 7 396 117 | 598 642 | 7 019 816 | 514 342 | 5.36% |
Guardrisk Insurance (3) | 6 949 397 | 562 484 | 6 295 073 | 461 240 | 10.39% |
Bryte Insurance Company | 4 115 205 | 333 085 | 3 736 734 | 273 791 | 10.13% |
Auto and General Insurance (3) | 3 249 310 | 262 999 | 3 033 732 | 222 282 | 7.11% |
Escap (4) | 2 978 536 | 241 083 | 3 411 047 | 249 927 | -12.68% |
Absa Insurance Company (5) | 2 854 640 | 231 055 | 2 824 143 | 206 925 | 1.08% |
Mutual & Federal Risk Financing | 2 629 062 | 212 796 | 2 332 612 | 170 910 | 12.71% |
Centriq Insurance | 2 477 174 | 200 502 | 2 144 058 | 157 095 | 15.54% |
Standard Insurance | 2 473 659 | 200 218 | 2 249 006 | 164 785 | 9.99% |
AIG South Africa | 2 014 110 | 163 022 | 2 285 294 | 167 443 | -11.87% |
Sasria(4) | 1 843 402 | 149 205 | 1 683 895 | 123 379 | 9.47% |
Alexander Forbes Insurance (4) | 1 633 203 | 132 191 | 1 501 552 | 110 019 | 8.77% |
Budget Insurance (3) | 1 559 479 | 126 224 | 1 368 580 | 100 276 | 13.95% |
Regent Insurance (3) | 1 323 264 | 107 105 | 1 385 079 | 101 485 | -4.46% |
Compass Insurance | 1 301 779 | 105 366 | 1 099 754 | 80 579 | 18.37% |
Renasa Insurance (6) | 1 255 126 | 101 590 | 1 189 676 | 87 168 | 5.50% |
Nedgroup Insurance | 1 141 961 | 92 430 | 1 115 543 | 81 736 | 2.37% |
Allianz Global Corporate | 946 649 | 76 622 | 764 034 | 55 981 | 23.90% |
Dial Direct Insurance (3) | 907 119 | 73 422 | 884 529 | 64 809 | 2.55% |
First for Women Insurance (3) | 857 803 | 69 431 | 761 475 | 55 793 | 12.65% |
Oakhurst Insurance | 666 558 | 53 951 | 540 309 | 39 588 | 23.37% |
Momentum Short Term Insurance (3) | 629 847 | 50 980 | 591 842 | 43 364 | 6.42% |
Chubb Insurance | 550 649 | 44 570 | 555 486 | 40 700 | -0.87% |
Bidvest Insurance (3) | 512 323 | 41 467 | 391 791 | 28 707 | 30.76% |
HDI Global | 456 904 | 36 982 | 607 120 | 44 484 | -24.74% |
Clientele General Insurance (3) | 351 661 | 28 463 | 302 189 | 22 141 | 16.37% |
Safire Insurance (4) | 337 613 | 27 326 | 294 545 | 21 581 | 14.62% |
Unitrans Insurance (5) | 283 950 | 22 983 | 249 426 | 18 275 | 13.84% |
Export Credit Insurance (4) | 144 262 | 11 677 | 411 894 | 30 179 | -64.98% |
PPS Short-term Insurance | 141 589 | 11 460 | 93 011 | 6 815 | 52.23% |
Corporate Guarantee (4) | 83 000 | 6 718 | 27 493 | 2 014 | 201.90% |
Enpet Africa Insurance | 57 929 | 4 689 | 58 888 | 4 315 | -1.63% |
Indequity Specialised Insurance (5) | 53 956 | 4 367 | 49 069 | 3 595 | 9.96% |
Total | 97 903 330 | 7 924 296 | 92 832 022 | 6 801 802 | 5.46% |
Rest of the market | 28 749 670 | 2 326 998 | 25 914 978 | 1 898 790 | 10.94% |
Grand total | 126 653 000 | 10 251 294 | 118 747 000 | 8 700 593 | 6.66% |
(1) Rand (2) Growth rate in local currency (3) The year ending June 30th (4) The year ending March 31st (5) The year ending September 30th
Exchange rate as at 31/12/2017 : 1 ZAR = 0.08094 USD; as at 31/12/2016 1 MUR = 0.07327 USD
Source: The South African Insurance Industry Survey 2018, KPMG, October 2018
Read also | South African non-life insurance industry
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