Life Insurance in South Africa, Key Trends and Opportunities to 2018

Date: 2015-09

The South African insurance industry is the largest in Africa, and the countryโ€™s life insurance segment accounted for 80.0% of the continentโ€™s total gross written premium for life insurance in 2012. Growth in the South African life segment can be attributed to stable GDP growth, rising disposable incomes of the middle-class population, the rapid expansion of financial services in rural areas, and increased awareness of life insurance products. High crime rates and levels of HIV, along with the development of microinsurance, supplemented the life segmentโ€™s growth.

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