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South Africa Insurance Industry Analysis (2006-2009)

South Africa Insurance Industry Analysis (2006-2009)

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Publish Date : Oct, 2006| No. of Pages : 55

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RNCOS’ report, “South Africa Insurance Industry Analysis (2006-2009)”, provides extensive research and objective analysis of the growing insurance industry, its product quality, and services in South Africa. This report helps to analyze the leading-edge opportunities critical to the success of the insurance Industry in South Africa. Detailed data and analysis helps investors, financial service providers, and global banking players to navigate through the evolving insurance market in South Africa.

Key Products Analyzed

Key products like Life and Non-life insurance have been analyzed, supported by facts like revenue and market trends.

Key Players

This section provides an overview of some of the key players in this industry like Old Mutual Plc, Sanlam Limited, Liberty Group Limited, Investec Ltd, Investment Solutions, Santam Ltd, Mutual & Federal Insurance Company Limited, Hollard Insurance Co Ltd, South African Eagle Insurance Co. Ltd. and Guardrisk.

Key Issues and Facts Analyzed

The research report also addresses the issues and facts that are critical to business success:

 - What are the marketing strategies of the players in the insurance industry?
 - How is the growth in Health and Group insurance driving the Insurance sector in South Africa? 
 - How are the demographic factors, like death rate and birthrates affecting the South African insurance market? 
 - What are the opportunities for the players in this industry and what are the challenges to sustain the Insurance market in South Africa?
 - What will be the prospective areas of investments in the insurance industry in the near future? 
 - Which factors will lead to the growth of Life and Non-life insurance in South Africa?

Key Findings

- Due to the increase in the crime rates, thefts rates and high death rates, the total insurance market (Life & Non-life) is expected to cross over $42 Billion in the year 2010 growing at the rate of more than 6.4% from the year 2006 onwards.
- Just 60% of the motor insurance market is tapped. So it becomes an opportunity area for the insurers in this segment.
- The increasing vehicle thefts have been a big challenge for the insurance companies in terms of the claims.
- There are major opportunities in Agriculture Insurance sector as this contributes to 4% of GDP and there are major losses due to uneven rainfall and lack of irrigation facility.

Research Methodology Used

Information Sources
Information has been sourced from namely, Books, Newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to access to more than 3000 paid databases.

Analysis Methods
The analysis methods includes the following: Ratio Analysis, Historical Trend Analysis, Linear Regression Analysis using software tools, Judgmental Forecasting and Cause and Effect Analysis.

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