Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which forecasts that South Africa's long-term insurance market is expected to show a 12% annual growth rate in the period 2007-2012.
The report, “South African Insurance Industry Forecast till 2012” also finds that the S.A. short-term insurance market will grow at a Compound Annual Growth Rate (CAGR) of 17% in the next five years.
The report predicts that the South African reinsurance market is expected to grow at a CAGR of 12% during 2007-2012 due to the rising number of natural disasters like earthquakes and floods. It states that motor and property insurance accounted for over three-fourth of the total short-term insurance market by net premium.
Authors of the report state that South Africa is amongst the world's top ten insurance markets, and that homeowner and motor insurance are anticipated to emerge as big opportunity areas in the market. They also state that material non-disclosure and misrepresentation will continue to be responsible for the highest number of fraud cases in the industry.
Analysts also discuss the factors that will lead to the growth of long and short term insurance market in South Africa, especially highlighting the most lucrative prospective investment sectors in the market.
The study profiles key short-term insurers operating in the South Africa insurance industry, including Santam Limited, Mutual & Federal Insurance Company Limited, Hollard Insurance and Guardrisk as well as long term insurers such as Old Mutual South Africa, Sanlam Limited and Liberty Group Limited.
"South African Insurance Industry Forecast till 2012" is available from Report Buyer. For more information, see website.
Report Buyer product ID: RCS00339
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