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Your complete guide to the South African non-life insurance sector

31 August 2018Liz Still & Gareth Stokes, S&S Analytica
Liz Still from S&S Analytica.

Liz Still from S&S Analytica.

Gareth Stokes from S&S Analytica.

Gareth Stokes from S&S Analytica.

‘Everything you need to know about non-life insurance in South Africa’, a 420 page overview of the South African non-life (short-term) insurance industry was launched at the Insurance Conference 2018 held at Sun City from 29-31 July 2018. The annual insurance event was attended by more than 1200 insurance delegates from 30-plus countries, making it the perfect backdrop for an insurance book launch.

Co-authors Liz Still and Gareth Stokes say that the book is aimed at anyone who wants a deeper understanding of non-life insurance, market players and insurance regulation applicable to South Africa. It is the culmination of many hours of research and is as thorough an examination of the sector as can be fitted into 420 pages.

The authors consider the business case for non-life insurance and reflect on the sector’s position in both financial markets and the socio-political environment. ‘Everything you need to know about non-life insurance in South Africa’ also includes sections on insurance trends and new chapters on Insurtech – in recognition of the nature and speed of technology-backed innovation – and risk pricing – to keep the theorists interested.

The value of this work is found in its assessment of stakeholders in the domestic non-life insurance market with insurers and insurance brokers under the spotlight in chapter seven; and the regulatory framework laid bare in chapters 12 through 14. Insurance companies are discussed based on the latest figures published by the regulator with additional information from insurer annual reports while the insurance broker content is informed by a perception survey of the country’s largest brokers. The book describes the most up-to-date regulations, both planned and in-force, applicable to the South African non-life insurance sector at 30 June 2018.

The book is written in an easy style that makes it easy for anyone with an interest in insurance to dip in and out of at their leisure. Insurance professionals, financial intermediaries and their clients, consumers and students of insurance will find great value in these pages. It can be purchased via the publisher’s website (www.analytica24.co.za) at a standard retail price of R300 plus R79 for courier delivery nationally. Discounts for bulk prices can be negotiated with the publishers on orders@analytica24.co.za

Quick Polls

QUESTION

Between 1918 and 2014, 32% of all of Lloyds of London’s insured losses were caused by flooding. With Climate change becoming a growing issue, is this a growing concern for insurers?

ANSWER

Yes, we have seen a significant increase in flood related losses
No, there will always be flood related losses. We are prepared for this.