Noida, India (PressExposure) November 18, 2009 -- According to a research report âSouth African Insurance Industry Forecast to 2013â by RNCOS, South Africa has a well-developed and highly liberalized financial sector. The insurance industry is the most developed in the entire African continent. The country accounts for the bulk of Africaâs total insurance business, i.e. a lionâs share of around 85%. In this way, it has left Tanzania and other 51 African countries with a collective share of merely 15%.
As per our report, the South African insurance industry showed a remarkable resilience to the economic turmoil that entangled most of the industries across the world. In fact, the long-term insurance sector of the country continued the trend of positive growth even during the adverse time of global recession and registered double digit growth rate during 2008. Most importantly, the policyholders not only maintained their premiums for life and disability insurance and fund policies in 2008, but they also continued to increase them. The net insurance premium of the industry is expected to grow around 11% during 2009-2013.
The report has identified all the important growth areas of the insurance sector including medical insurance, motor insurance, property insurance, liability and engineering insurance among others. The report features forecasts on all of these segments based on valid reasons. In addition to this, the report also discusses recent regulatory and macroeconomic developments and their impact on the South African insurance sector.
âSouth African Insurance Industry Forecast to 2013â is a comprehensive research report that comprises quality research and in-depth analysis of the insurance market in South Africa. It studies the emerging market trends and recent market developments. The report will help clients to identify the leading-edge opportunities, prospective customer base, key players, their market share, their business strategies and all other factors which are critical for the success of a new entrant in the South African insurance industry.
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