The South African insurance industry: 2015 results

Magazine Issue:

The world upside down [3]

Magazine date:

Feb 2017

The South African insurance industry: turnover per non life company 2014-2015

Figures in thousands

	2014 turnover		2015 turnover		2015 shares
	In ZAR ⁽¹⁾	In USD	In ZAR ⁽¹⁾	In USD	2015 shares
Santam	19 866 178	1 712 266	21 085 503	1 369 293	18.9%
Hollard Insurance	7 475 719	644 332	9 492 386	616 435	8.5%
Guardrisk	6 912 546	595 792	9 134 077	593 167	8.2%
Mutual & Federal	8 886 205	765 902	9 038 364	586 951	8.1%
Outsurance	6 048 468	521 317	6 580 001	427 305	5.9%
Zurich	3 484 869	300 361	3 735 903	242 610	3.3%
Auto & General	2 569 104	221 431	2 896 275	188 084	2.6%
Absa	3 115 574	268 531	2 744 785	178 246	2.5%
AIG	2 174 561	187 425	2 431 753	157 918	2.2%
Centriq	2 033 357	175 255	2 287 152	148 528	2%
Rand Mutual	1 012 942	87 305	2 227 534	144 656	2%
Standard	1 909 372	164 569	2 070 591	134 464	1.9%
Allianz Global	1 883 327	162 324	1 983 545	128 811	1.8%
Export Credit	130 642	11 260	1 788 350	116 135	1.6%
Miway	1 468 239	126 548	1 749 671	113 624	1.6%
M&F Risk	997 944	86 013	1 728 258	112 233	1.6%
Escap Limited	1 540 567	132 782	1 618 189	105 085	1.5%
Sasria	1 390 338	119 833	1 522 866	98 895	1.4%
Regent	1 448 377	124 836	1 452 028	94 295	1.3%
Alexander Forbes	1 222 933	105 405	1 340 407	87 046	1.2%
Budget Insurance	1 179 857	101 692	1 246 389	80 941	1.1%
RMB Structured	1 135 056	97 831	1 178 185	76 511	1.1%
Lombard	1 048 392	90 361	1 131 823	73 501	1%
Discovery	603 440	52 010	1 127 248	73 203	1%
Nedgroup	978 786	84 362	1 055 694	68 557	0.9%
Renasa	803 114	69 220	1 047 582	68 030	0.9%
Credit Guarantee	971 180	83 706	1 025 603	66 603	0.9%
New National	1 110 677	95 729	1 015 397	65 940	0.9%
Compass	953 766	82 205	973 569	63 224	0.9%
Dial Direct	945 161	81 463	900 192	58 458	0.8%
Total of the top thirty companies	85 300 691	7 352 067	97 609 320	6 338 749	87.6%
Rest of the market⁽²⁾	15 051 426	1 297 282	13 815 007	897 147	12.4%
Total	100 352 117	8 649 349	111 424 327	7 235 896	100%

⁽¹⁾ South African Rand
⁽²⁾ 62 companies

The South African insurance industry: turnover per life company 2014-2015

Figures in thousands

	2014 turnover		2015 turnover		2015 shares
	In ZAR ⁽¹⁾	In USD	In ZAR ⁽¹⁾	In USD	2015 shares
Old Mutual Life	72 558 181	6 253 790	86 028 736	5 586 706	18.4%
MMI Group	54 214 091	4 672 712	58 317 438	3 787 134	12.5%
Liberty	54 140 936	4 666 407	52 597 844	3 415 704	11.2%
Sanlam Life Insurance	50 616 408	4 362 628	47 883 152	3 109 532	10.2%
Investec Assurance Limited	50 315 219	4 336 669	41 975 686	2 725 901	9%
Investment Solutions	36 752 649	3 167 711	33 785 846	2 194 053	7.2%
Discovery Life	15 562 873	1 341 364	18 001 781	1 169 036	3.8%
Allan Gray	13 909 349	1 198 847	17 158 109	1 114 248	3.7%
Coronation Life	12 851 846	1 107 701	13 789 699	895 503	2.9%
Sygnia Life	5 134 826	442 571	9 090 367	590 328	1.9%
Alex Forbes Life	9 577 050	825 446	9 016 140	585 508	1.9%
Absa Life	6 927 208	597 056	8 037 860	521 979	1.7%
Sanlam Developing Markets	6 693 969	576 953	6 807 229	442 062	1.5%
Hollard Life	7 249 877	624 867	6 052 450	393 046	1.3%
Prudential Portfolio	1 173 501	101 144	4 954 476	321 744	1.1%
Nedgroup Life Assurance	3 506 042	302 186	4 271 006	277 359	0.9%
PSG Asset Management	3 777 908	325 618	3 975 889	258 194	0.8%
Nedgroup Structured Life	3 391 117	292 280	3 852 243	250 165	0.8%
Stangen	4 795 660	413 338	3 787 883	245 985	0.8%
Prescient Life	1 553 584	133 903	3 595 227	233 474	0.8%
PPS	2 944 332	253 772	3 410 454	221 475	0.7%
SIS Life Company Limited	3 081 080	265 558	3 091 161	200 740	0.7%
Old Mutual Alternative Risk	804 013	69 298	3 058 132	198 595	0.7%
Guardrisk Life	1 606 738	138 485	2 813 900	182 735	0.6%
Channel Life Limited	2 682 404	231 196	2 594 917	168 514	0.6%
Assupol Life	2 058 867	177 454	2 310 556	150 048	0.5%
AVBOB	1 970 316	169 822	2 301 470	149 457	0.5%
Momentum Ability	1 874 213	161 538	2 035 117	132 160	0.4%
Cadiz Life	1 112 662	95 900	1 925 908	125 068	0.4%
Clientele Life	1 329 869	114 621	1 535 126	99 691	0.3%
Total of the top thirty companies	434 166 788	37 420 835	458 055 802	29 746 144	97.8%
Rest of the market⁽²⁾	13 275 381	1 144 205	10 539 368	484 426	2.2%
Total	447 442 169	38 565 040	468 595 170	30 430 570	100%

⁽¹⁾ South Africain Rand
⁽²⁾ 45 companies

The South African insurance industry: turnover per class of business (2014-2015)

	2014 turnover		2015 turnover		2015 shares
	In ZAR ⁽¹⁾	In USD	In ZAR ⁽¹⁾	In USD	2015 shares
Property damage	34 866 041	3 005 104	37 130 112	2 411 230	6.4%
Marine	3 096 031	266 847	3 391 861	220 268	0.6%
Motor	41 994 278	3 619 487	45 252 832	2 938 719	7.8%
Accident and health	6 305 445	543 466	7 820 294	507 850	1.4%
Guarantee	2 518 196	217 043	4 633 992	300 931	0.8%
Third party liability	4 920 205	424 073	4 899 080	318 146	0.8%
Engineering	3 340 407	287 910	3 461 832	224 811	0.6%
Others	3 311 514	285 419	4 834 324	313 941	0.8%
Total non life	100 352 117	8 649 349	111 424 327	7 235 896	19.2%
Life⁽²⁾	447 442 169	38 565 040	468 595 170	30 430 570	80.8%
Grand total	547 794 286	47 214 389	580 019 497	37 666 466	100%

⁽¹⁾ South African Rand

Breakdown of turnover per class of business in 2015

afrique du sud chiffre affaires branche vie non vie

⁽²⁾ including assistance, disability, health, life, fund and sinking fund Source: Financial Services Board (FSB)

Exchange rate ZAR/USD as at 31/12	2014	2015
Exchange rate ZAR/USD as at 31/12	0.08619	0.06494