Ranking of South African life insurance companies according to 2019's turnover

Magazine Issue:

Magazine date:

Dec 2020

Figures in thousands

Companies	2019 turnover		2018 turnover		2018-2019 evolution ⁽²⁾
Companies	In ZAR ⁽¹⁾	In USD	In ZAR ⁽¹⁾	In USD	2018-2019 evolution ⁽²⁾
Sanlam	87 931 000	6 253 653	67 246 000	4 655 440	30.76%
Old Mutual Life	55 324 000	3 934 643	53 920 000	3 732 882	2.60%
Liberty Group	38 820 000	2 760 878	37 494 000	2 595 710	3.54%
MML Group Limited ⁽³⁾	27 510 000	1 956 511	21 355 000	1 478 407	28.82%
Hollard Life Assurance ⁽³⁾	7 447 620	529 675	6 497 835	449 845	14.62%
Guardrisk Life ⁽³⁾	7 407 644	526 832	6 790 453	470 103	9.09%
Professional Provident Society Insurance	4 605 942	327 575	4 211 472	291 560	9.37%
AVBOB Mutual Assurance ⁽³⁾	4 158 073	295 722	3 635 622	251 694	14.37%
Absa Life	4 084 799	290 511	3 779 717	261 670	8.07%
Assupol Holdings ⁽³⁾	3 458 166	245 945	2 987 369	206 815	15.76%
Nedgroup Life Assurance	2 171 744	154 454	2 006 296	138 896	8.25%
Clientele Life ⁽³⁾	1 826 111	129 873	1 791 811	124 047	1.91%
1 Life ⁽³⁾	1 386 956	98 640	1 333 889	92 345	3.98%
Old Mutual Alternative Risk Transfer	1 144 634	81 406	1 006 888	69 707	13.68%
Hollard Specialist Life ⁽³⁾	718 472	51 098	821 378	56 864	-12.53%
OUTsurance Life Insurance ⁽³⁾	503 297	35 794	468 628	32 443	7.40%
The Standard General Insurance ⁽⁴⁾	81 942	5 828	64 446	4 462	27.15%
Total	248 580 400	17 679 038	215 410 804	14 912 890	15.40%
Reste du marché	281 860 600	20 045 962	350 933 196	24 295 110	-19.68%
Total général	530 441 000	37 725 000	566 344 000	39 208 000	-6.34%

⁽¹⁾ Rand
⁽²⁾ Growth rate in local currency
⁽³⁾ The year ending June 30th
⁽⁴⁾ The year ending March 31^st
⁽⁵⁾ The year ending September 30^th
Sources: KPMG and Swiss Re

Exchange rate on 31/12/2019 : 1 ZAR = 0.07112 USD; on 31/12/2018: 1 ZAR = 0.06923 USD