South African insurance industry: Ranking of non-life insurers per 2017 per turnover

Magazine Issue:

Magazine date:

May 2019

	2017 written premiums		2016 written premiums		2016-2017 evolution ⁽²⁾
	In ZAR ⁽¹⁾	In USD	In ZAR ⁽¹⁾	In USD	2016-2017 evolution ⁽²⁾
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 30^th ⁽⁴⁾ The year ending March 31^st ⁽⁵⁾ The year ending September 30^th
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 [4]