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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 ResearchAndMarkets.com s offering. 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.

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