Dublin, Feb. 07, 2019 (GLOBE NEWSWIRE) -- The "The Life Insurance Industry Including Reinsurance in South Africa 2019" report has been added to ResearchAndMarkets.com's offering.

This report provides a comprehensive overview of the insurance and reinsurance sector in South Africa and on the continent with industry statistics largely covering 2017. There are detailed profiles of 43 companies including major insurers Old Mutual, MMI, Liberty and Sanlam, direct life insurers such as Clientle Life, 1Life and OUTsurance and reinsurers such as Munich Re and Swiss Re.

The Life Insurance Industry Including Reinsurance: With total assets of R3.1-trillion at 30 September 2018, South Africa's life insurance industry is the largest on the African continent. The industry contributed R469bn to the local economy through total benefit payments to policyholders and beneficiaries during 2017. Individual benefits, amounting to R207.5bn, showed minimal year-on-year growth, but the increase in critical illness and murders in South Africa are a potential driver of future increases in benefits paid. Death claims, which made up 78.5% of risk claims, decreased by 1.2% over the 12-months to 30 June 2018.

Industry Transformation: The industry is in a transformational phase as a new regulatory regime is being implemented. Technological change is another driver of the transformation with the rise of insurtech startups widely regarded as a major industry disruptor. Commentators believe the implementation of the Treating Customers Fairly framework and other new regulations will have a profound effect on the market. The entry of non-traditional players such as banks, telecoms companies, undertakers and funeral parlours and retailers has served to increase the competitiveness of the industry.

Key Topics Covered:

1. Introduction

2. Description Of The Industry
2.1. Industry Supply Chain
2.2. Geographic Position

3. Size Of The Industry

4. State Of The Industry
4.1. Local
4.1.1. Corporate Actions
4.1.2. Regulations
4.1.3. Enterprise Development and Social Economic Development
4.2. Continental
4.3. International

5. Influencing Factors
5.1. Economic Environment
5.2. Investment Performance
5.3. Financial Inclusion
5.4. Environmental, Social and Governance (ESG)
5.5. Operating Costs
5.6. Crime
5.7. Cybercrime
5.8. Information Technology (IT), Research & Development (R&D) and Innovation
5.9. Labour
5.10. Cyclicality
5.11. Climate Change and Extreme Weather
5.12. Fraudulent Claims

6. Competition
6.1. Barriers To Entry

7. SWOT Analysis

8. Outlook

9. Industry Associations

10. References
10.1. Publications
10.2. Websites

Appendix 1 - Summary Of Notable Players

Appendix 2 - Classes and Sub-Classes of Insurance Business for Life Insurance under Schedule 2 of the Insurance Act, 2017

Companies Mentioned

• 1 Life Insurance (RF) Ltd
• 3Sixty Life Ltd
• Absa Life Ltd
• African Unity Life Ltd
• AIG Life South Africa Ltd
• Alexander Forbes Investments Ltd
• Alexander Forbes Life Ltd
• Allan Gray Life Ltd
• Assupol Life Ltd
• AVBOB Mutual Assurance Society
• Bidvest Life Ltd
• Bophelo Life Insurance Ltd
• BrightRock Life Ltd
• Clientele Life Assurance Company Ltd
• Coronation Life Assurance Company Ltd
• Discovery Life Ltd
• Fedgroup Life Ltd
• General Reinsurance Africa Ltd
• GIC Re South Africa Ltd
• Guardrisk Life Ltd
• Hannover Reinsurance Group Africa (Pty) Ltd
• Hollard Life Assurance Company Ltd
• Hollard Specialist Life Ltd
• Land Bank Life Insurance Company SOC Ltd
• Liberty Holdings Ltd
• Lion of Africa Life Assurance Company Ltd
• MMI Group Ltd
• Munich Reinsurance Company of Africa Ltd
• Nedgroup Life Assurance Company Ltd
• Nedgroup Structured Life Ltd
• Old Mutual Life Assurance Company (South Africa) Ltd
• OUTsurance Life Insurance Company Ltd
• Professional Provident Society Insurance Company Ltd
• Prudential Portfolio Managers (South Africa) Life Ltd
• PSG Konsult Ltd
• Rand Mutual Assurance Company Ltd (The)
• RGA Reinsurance Company of South Africa Ltd
• Sanlam Life Insurance Ltd
• SCOR Africa Ltd
• Standard General Insurance Company Ltd (The)
• Strategic Investment Service Life Company Ltd
• Swiss Re Africa Ltd
• Sygnia Life Ltd

For more information about this report visit https://www.researchandmarkets.com/research/hnldhz/the_life?w=12

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Related Topics: Life Insurance, Reinsurance