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Personal Accident and Health Insurance in South Africa, Key Trends and Opportunities to 2020

Region:Africa

Product Code:IS1467MR

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Published On

May 2017

Total pages

109

About the Report

Timetric's 'Personal Accident and Health Insurance in South Africa, Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the South African personal accident and health insurance segment, and a comparison of the South African insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the South African economy and demographics, and provides detailed information on the competitive landscape in the country.
The report brings together Timetric's research, modeling, and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.
Summary
Timetric's 'Personal Accident and Health Insurance in South Africa Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the South African personal accident and health insurance segment, including:
An overview of the South African personal accident and health insurance segment
The South African personal accident and health insurance segment's growth prospects by category
A comprehensive overview of the South African economy and demographics
A comparison of the South African personal accident and health insurance segment with its regional counterparts
The various distribution channels in the South African personal accident and health insurance segment
Details of the competitive landscape in the personal accident and health insurance segment in South Africa
Details of regulatory policy applicable to the South African insurance industry
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in South Africa:
It provides historical values for the South African personal accident and health insurance segment for the report's 2011-2015 review period and projected figures for the 2015-2020 forecast period.
It offers a detailed analysis of the key categories in the South African personal accident and health insurance segment, and market forecasts to 2020.
It provides a comparison of the South African personal accident and health insurance segment with its regional counterparts
It provides an overview of the various distribution channels for personal accident and health insurance products in South Africa.
It profiles the top personal accident and health insurance companies in South Africa and outlines the key regulations affecting them.
Reasons To Buy
Make strategic business decisions using in-depth historic and forecast market data related to the South African personal accident and health insurance segment, and each category within it.
Understand the demand-side dynamics, key market trends and growth opportunities in the South African personal accident and health insurance segment.
Assess the competitive dynamics in the personal accident and health insurance segment.
Identify growth opportunities and market dynamics in key product categories.
Gain insights into key regulations governing the South Africa insurance industry, and their impact on companies and the industry's future.
Key Highlights
The personal accident and health segment accounted for 4.0% of the overall insurance gross written premium in South Africa in 2015.
Brokers are the leading distribution channel in the South African personal accident and health segment.
The South African personal accident and health insurance segment are highly consolidated, with the five leading companies accounting for 70.3% of the total gross written premium in 2015.
South African personal accident and health insurance penetration was 0.54% in 2015.

Scope of the Report

Companies

Rand Mutual Assurance Company LtdGuardrisk Insurance Company LtdMonarch Insurance Company LtdHollard Insurance Company LtdConstantia Insurance Company LtdSantam LtdCentriq Insurance Company LtdShoprite Insurance Company LtdAIG South Africa LtdStandard Bank Insurance Brokers

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium

4.2.2 Claims

4.2.3 Profitability

4.2.4 Assets and investments

5 Distribution Channel Outlook

6 Competitive Landscape

6.1 Company Profiles

6.1.1 Rand Mutual Assurance Company Ltd-company overview

6.1.2 Guardrisk Insurance Company Ltd-company overview

6.1.3 Monarch Insurance Company Ltd-company overview

6.1.4 Hollard Insurance Company Ltd-company overview

6.1.5 Constantia Insurance Company Ltd-company overview

7 Governance, Risk and Compliance

7.1 Legislation Overview and Historical Evolution

7.2 Latest Changes in Regulation

7.3 Legislation and Market Practice by Type of Insurance

7.3.1 Life insurance

7.3.2 Property insurance

7.3.3 Motor insurance

7.3.4 Liability insurance

7.3.5 Marine, aviation and transit insurance

7.3.6 Personal accident and health insurance

7.4 Compulsory Insurance

7.4.1 Third-party liability insurance for commercial flight operators

7.4.2 Unemployment insurance

7.4.3 Compensation for occupational diseases and injuries

7.4.4 Professional indemnity insurance

7.4.5 Environmental liability insurance

7.5 Supervision and Control

7.5.1 International Association of Insurance Supervisors

7.5.2 African Insurance Organization

7.5.3 Financial Services Board

7.5.4 South African Insurance Association

7.6 Non-Admitted Insurance Regulations

7.6.1 Overview

7.6.2 Intermediaries

7.6.3 Market practices

7.6.4 Fines and Penalties

7.7 Company Registration and Operations

7.7.1 Type of insurance organization

7.7.2 Establishing a local company

7.7.3 Foreign ownership

7.7.4 Types of license

7.7.5 Capital requirements

7.7.6 Solvency margin

7.7.7 Reserve requirements

7.7.8 Investment regulations

7.7.9 Statutory return requirements

7.7.10 Fee structure

7.8 Taxation

7.8.1 Insurance premium or policy taxation

7.8.2 Withholding taxes on premium paid overseas

7.8.3 Corporate tax

7.8.4 VAT

7.8.5 Captives

7.9 Legal System

7.9.1 Introduction

7.9.2 Access to court

7.9.3 Alternative dispute resolution

8 Databook

8.1 Policies and Premium

8.1.1 Claims and Expenses

8.1.2 Assets and Investments

8.1.3 Health Insurance by Product

9 Definitions and Methodology

9.1 Definitions

9.2 Methodology

10 About Timetric

10.1 Contact Timetric

10.2 About Timetric

10.3 Timetric's Services

10.4 Disclaimer

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