South African insurance market: provisional 2022 turnover

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South African insurance marketSouth African insurers have ended the financial year 2022 with a 7.72% growth in their overall turnover.

This figure went from 747.1 billion ZAR (46.8 billion USD) as at 31 December 2021 to 804.739 billion ZAR (47.3 billion USD) a year later.

The market is dominated by the life class of business which accounts for 77.85% of the global portfolio in 2022 with 626.45 billion ZAR (36.8 billion USD) of written premiums. The non-life activity, on the other hand, has a market share of 22.15% with 178.289 billion ZAR (10.5 billion USD).

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Tue, 18/04/2023 - 10:23
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