Life Insurance in South Africa

TABLE OF CONTENTS

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Market share 2

Market rivalry 2

Market Overview 6

Market definition 6

Market analysis 6

Market Data 7

Market value 7

Market Segmentation 8

Category segmentation 8

Market share 9

Market Outlook 10

Market value forecast 10

Five Forces Analysis 11

Summary 11

Buyer power 12

Supplier power 13

New entrants 14

Threat of substitutes 15

Degree of rivalry 16

Leading Companies 17

Liberty Holdings Limited 17

MMI Holdings Limited 20

Sanlam Life Insurance Limited 21

Macroeconomic Indicators 24

Country Data 24

Appendix 26

Methodology 26

LIST OF TABLES

Table 1: South Africa life insurance market value: $ billion, 2010-14 7

Table 2: South Africa life insurance market category segmentation: $ billion, 2014 8

Table 3: South Africa life insurance market share: % share, by value, 2014 9

Table 4: South Africa life insurance market value forecast: $ billion, 2014-19 10

Table 5: Liberty Holdings Limited: key facts 17

Table 6: Liberty Holdings Limited: key financials ($) 18

Table 7: Liberty Holdings Limited: key financials (ZAR) 18

Table 8: Liberty Holdings Limited: key financial ratios 18

Table 9: MMI Holdings Limited: key facts 20

Table 10: Sanlam Life Insurance Limited: key facts 21

Table 11: Sanlam Life Insurance Limited: key financials ($) 21

Table 12: Sanlam Life Insurance Limited: key financials (ZAR) 21

Table 13: Sanlam Life Insurance Limited: key financial ratios 22

Table 14: South Africa size of population (million), 2010-14 24

Table 15: South Africa gdp (constant 2005 prices, $ billion), 2010-14 24

Table 16: South Africa gdp (current prices, $ billion), 2010-14 24

Table 17: South Africa inflation, 2010-14 25

Table 18: South Africa consumer price index (absolute), 2010-14 25

Table 19: South Africa exchange rate, 2010-14 25

LIST OF FIGURES

Figure 1: South Africa life insurance market value: $ billion, 2010-14 7

Figure 2: South Africa life insurance market category segmentation: % share, by value, 2014 8

Figure 3: South Africa life insurance market share: % share, by value, 2014 9

Figure 4: South Africa life insurance market value forecast: $ billion, 2014-19 10

Figure 5: Forces driving competition in the life insurance market in South Africa, 2014 11

Figure 6: Drivers of buyer power in the life insurance market in South Africa, 2014 12

Figure 7: Drivers of supplier power in the life insurance market in South Africa, 2014 13

Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in South Africa, 2014 14

Figure 9: Factors influencing the threat of substitutes in the life insurance market in South Africa, 2014 15

Figure 10: Drivers of degree of rivalry in the life insurance market in South Africa, 2014 16

Figure 11: Liberty Holdings Limited: revenues and profitability 19

Figure 12: Liberty Holdings Limited: assets and liabilities 19

Figure 13: Sanlam Life Insurance Limited: revenues and profitability 22

Figure 14: Sanlam Life Insurance Limited: assets and liabilities 23