Insurance industry in South Africa: 2016 turnover per company

Magazine Issue:

The masters of Africa [3]

Magazine date:

Apr 2018

Insurance industry in South Africa: turnover per non-life insurance company (2015-2016)

in thousands

	2016 turnover		2015 turnover		2016 shares
	In ZAR	In USD	In ZAR⁽²⁾	In USD	2016 shares
Santam	22 469 267	1 646 323	21 085 503	1 369 293	19.25%
Hollard Insurance	10 386 326	761 006	9 492 386	616 436	8.9%
Mutual & Federal	8 717 615	638 740	9 038 364	586 951	7.47%
Guardrisk	7 546 973	552 967	9 134 077	593 167	6.47%
Outsurance	7 019 816	514 342	6 580 001	427 305	6.01%
Bryte Insurance⁽¹⁾	3 736 734	273 791	3 735 903	242 610	3.2%
Escap Limited	3 411 047	249 927	1 618 189	105 085	2.92%
Auto & General	3 033 732	222 282	2 896 275	188 084	2.6%
Absa	2 638 537	193 326	2 744 785	178 246	2.26%
Centriq	2 492 324	182 613	2 287 152	148 528	2.14%
Mutual & Federal Risk	2 332 612	170 910	1 728 258	112 233	2%
AIG	2 285 294	167 443	2 431 753	157 918	1.96%
Standard Insurance	2 233 562	163 653	2 070 591	134 464	1.91%
Miway	2 076 588	152 152	1 749 671	113 624	1.78%
Rand Mutual	2 056 573	150 685	2 227 534	144 656	1.76%
Allianz Global	1 940 427	142 175	1 983 545	128 811	1.66%
Sasria	1 683 895	123 379	1 522 866	98 895	1.44%
Discovery	1 569 019	114 962	1 127 248	73 203	1.34%
Alexander Forbes	1 501 552	110 019	1 340 407	87 046	1.29%
Santam Structured⁽⁴⁾	1 402 655	102 773	1 178 185	76 511	1.2%
Regent	1 385 079	101 485	1 452 028	94 295	1.19%
Budget Insurance	1 368 579	100 276	1 246 389	80 941	1.17%
Infiniti	1 347 893	98 760	882 411	57 304	1.15%
Lombard	1 228 535	90 015	1 131 823	73 501	1.05%
Renasa	1 189 676	87 168	1 047 582	68 030	1.02%
Nedgroup	1 117 831	81 903	1 055 694	68 557	0.96%
New National	1 105 450	80 996	1 015 397	65 940	0.95%
Compass	1 099 754	80 579	973 569	63 224	0.94%
Credit Guarantee	1 037 655	76 029	1 025 603	66 603	0.89%
Dial Direct	884 529	64 809	900 192	58 458	0.76%
Constantia	835 389	61 209	707 873	45 969	0.72%
Western National	776 036	56 860	640 734	41 609	0.66%
First For Women	761 474	55 793	730 735	47 454	0.65%
Legal Expenses	755 574	55 361	683 057	44 358	0.65%
King Price	733 681	53 757	502 749	32 649	0.63%
Monarch	670 615	49 136	851 526	55 298	0.57%
HDI Global	607 120	44 484	388 526	25 231	0.52%
Shoprite	598 605	43 860	570 405	37 042	0.51%
Momentum STI	571 318	41 860	500 183	32 482	0.49%
FEM	568 945	41 687	265 228	17 224	0.49%
Chubb	555 486	40 700	522 195	33 911	0.48%
Oakhurst	540 308	39 588	417 795	27 132	0.46%
Vodacom	512 317	37 537	432 109	28 061	0.44%
Genric	501 668	36 757	270 916	17 593	0.43%
Absa Idirect	475 585	34 846	410 333	26 647	0.41%
Lion of Africa	439 181	32 179	623 647	40 500	0.38%
Export Credit	411 894	30 179	1 788 350	116 135	0.35%
Landbank	405 863	29 738	138 381	8 986	0.35%
Bidvest	391 791	28 707	312 652	20 304	0.34%
SAHL	379 883	27 834	360 560	23 415	0.33%
Total of the top 50 companies	113 792 262	8 337 560	107 821 335	7 001 919	97.5%
Rest of the market⁽³⁾	2 929 512	214 644	3 602 992	849 675	2.5%
Grand total	116 721 774	8 552 204	111 424 327	7 851 594	100%

^* This table shows only the top 50 non-life insurance companies in South Africa
⁽¹⁾ South African Rand

Insurance industry in South Africa: turnover per life insurance company (2015-2016)

in thousands

	2016 turnover		2015 turnover		2016 shares
	In ZAR⁽²⁾	In USD	In ZAR⁽²⁾	In USD	2016 shares
Old Mutual Life	87 621 000	6 419 991	86 028 736	5 586 706	18.05%
MMI Group	55 785 516	4 087 405	58 317 438	3 787 134	11.49%
Liberty	54 298 901	3 978 480	52 597 844	3 415 704	11.18%
Sanlam Life Insurance	51 013 696	3 737 774	47 883 152	3 109 532	10.51%
Investec Assurance	38 746 662	2 838 968	41 975 686	2 725 901	7.98%
Alexander Forbes Investments	34 158 075	2 502 762	-	-	7.03%
Discovery Life	20 966 685	1 536 229	18 001 781	1 169 036	4.32%
Coronation Life	17 428 972	1 277 021	13 789 699	895 503	3.59%
Sygnia Life	16 145 798	1 183 003	9 090 367	590 328	3.33%
Allan Gray	15 076 213	1 104 634	17 158 109	1 114 248	3.1%
Absa Life	10 455 251	766 056	8 037 860	521 979	2.15%
Alex Forbes Life	10 180 206	745 904	9 016 140	585 508	2.1%
Sanlam Developing Markets	7 026 311	514 818	6 807 229	442 061	1.45%
PSG Life	6 792 057	497 654	-	-	1.4%
Hollard Life	6 015 240	440 737	6 052 450	393 046	1.24%
Nedgroup Life Assurance	5 895 043	431 930	4 271 006	277 359	1.21%
SIS Life Company Limited	4160 252	304 822	3 091 161	200 740	0.86%
PPS Life Insurance	3 845 402	281 753	3 410 454	221 475	0.79%
Guardrisk Life	3 823 386	280 139	2 813 900	182 735	0.79%
Nedgroup Structured Life	3 318 171	243 122	3 852 243	250 165	0.68%
Assupol Life	2 736 753	200 522	2 310 556	150 048	0.56%
AVBOB	2 700 073	197 834	2 301 470	149 457	0.56%
Prescient Life	2 363 155	173 148	3 595 227	233 474	0.49%
Prudential Portfolio	2 319 311	169 936	4 954 476	321 744	0.48%
Momentum Ability	2 214 319	162 243	2 035 117	132 160	0.46%
Safrican Insurance	2 107 077	154 386	1 388 716	90 183	0.43%
Channel Life Limited	1 728 589	126 654	2 594 917	168 514	0.36%
Clientele Life	1 697 923	124 407	1 535 126	99 691	0.35%
Stangen	1 438 801	105 421	3 787 883	245 985	0.3%
Cadiz Life	1 351 837	99 049	1 925 908	125 068	0.28%
FirstRand Life	1 321 184	96 803	-	-	0.27%
Old Mutual Alternative Risk	1 180 039	86 461	3 058 132	198 595	0.24%
1Life Limited	1 080 139	79 142	866 761	56 287	0.22%
Regent Life	814 359	59 668	759 373	49 314	0.17%
Peregrine Life	688 151	50 421	1 096 482	71 206	0.14%
African Unity	619 341	45 379	529 735	34 401	0.13%
AIG Life	553 335	40 543	615 355	39 961	0.11%
Fedgroup Life	499 369	36 589	140 518	9 125	0.1%
Abacus	471 673	34 559	914 521	59 389	0.1%
Superflex	470 143	34 447	324 158	21 051	0.1%
Lion Life	453 389	33 220	102 621	6 664	0.09%
Union Life	431 948	31 649	366 775	23 818	0.09%
Lombard Life	415 659	30 455	232 892	15 124	0.09%
Outsurance Life Insurance	391 521	28 687	316 491	20 553	0.08%
Workers Life	359 441	26 336	319 117	20 723	0.07%
SAHL	299 071	21 913	278 835	18 108	0.06%
Nestlife Assurance	296 111	21 696	316 130	20 529	0.06%
RMA Life	291 515	21 359	221 049	14 355	0.06%
Centriq Life	262 770	19 253	229 628	14 913	0.05%
Stanlib	240 055	17 589	342 842	22 265	0.05%
Total of the top 50 companies	484 549 888	35 502 971	429 656 066	27 901 865	99.8%
Rest of the market⁽³⁾	1 060 693	77 716	38 939 104	2 528 705	0.2%
Grand total	485 610 581	35 580 687	468 595 170	30 430 570	100%

^* This table shows only the top 50 life insurance companies in South Africa
Source : Financial Services Board (FSB)

Exchange rate ZAR/USD as at 31/12	2016	2015
Exchange rate ZAR/USD as at 31/12	0.07327	0.06494

Read also: The African insurance market in 2018 [4]