/PRNewswire/ The "The Life Insurance Industry in South Africa 2022" report has been added to ResearchAndMarkets.com s offering. This report on the life.
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Life cover plays a central role in safeguarding financial security as it provides an income stream to dependents who would otherwise suffer financial loss in the event of the death, disability or serious illness of a breadwinner. In 2020, 65 primary life insurers, five life cell captives, five composite reinsurers (offering life and non-life reinsurance), two life reinsurers, and one life microinsurer were registered with the Financial Services Conduct Authority. The life insurance sector is dominated by large companies such as Sanlam, Discovery and Old Mutual.
The coronavirus pandemic has put pressure on new business, lapse rates and potential future claims in the life insurance sector. It has caused extreme equity market and interest rate volatility, which affects the performance of the industry players. Gross written premiums are expected to decline as customers income is affected by unemployment. Liquidity constraints are highly likely in th
2021 South African Life Insurance Industry Analysis: State of the Industry, Influencing Factors and Competition Outlook
March 11, 2021 07:48 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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Life cover plays a central role in safeguarding financial security as it provides an income stream to dependents who would otherwise suffer financial loss in the event of the death, disability or serious illness of a breadwinner. In 2020, 65 primary life insurers, five life cell captives, five composite reinsurers (offering life and non-life reinsurance), two life reinsurers, and one life microinsurer were registered with the Financial Services Conduct Authority. The life insurance sector is dominated by large companies such as Sanlam, Discovery and Old Mutual.