Table of Contents Executive Summary 2 Market value 2 Market value forecast 2 Category segmentation 2 Geography segmentation 2 Market share 2 Market rivalry 2 Market Overview 7 Market definition 7 Market analysis 7 Market Data 9 Market value 9 Market Segmentation 10 Category segmentation 10 Geography segmentation 11 Market share 12 Market Outlook 13 Market value forecast 13 Five Forces Analysis 14 Summary 14 Buyer power 16 Supplier power 17 New entrants 18 Threat of substitutes 19 Degree of rivalry 20 Leading Companies 21 Guardrisk Group (Pty) Ltd 21 The Hollard Insurance Company Ltd 22 Old Mutual Ltd 25 Santam Limited 28 Macroeconomic Indicators 32 Country data 32 Methodology 34 Industry associations 35 Related MarketLine research 35 Appendix 36 About MarketLine 36

List of Tables Table 1: South Africa life insurance market value: $ billion, 2013–17 Table 2: South Africa life insurance market category segmentation: $ billion, 2017 Table 3: South Africa life insurance market geography segmentation: $ billion, 2017 Table 4: South Africa life insurance market share: % share, by value, 2017 Table 5: South Africa life insurance market value forecast: $ billion, 2017–22 Table 6: Guardrisk Group (Pty) Ltd: key facts Table 7: The Hollard Insurance Company Ltd: key facts Table 8: The Hollard Insurance Company Ltd: key financials ($) Table 9: The Hollard Insurance Company Ltd: key financials (ZAR) Table 10: The Hollard Insurance Company Ltd: key financial ratios Table 11: Old Mutual Ltd: key facts Table 12: Old Mutual Ltd: key financials ($) Table 13: Old Mutual Ltd: key financials (£) Table 14: Old Mutual Ltd: key financial ratios Table 15: Santam Limited: key facts Table 16: Santam Limited: key financials ($) Table 17: Santam Limited: key financials (ZAR) Table 18: Santam Limited: key financial ratios Table 19: South Africa size of population (million), 2013–17 Table 20: South Africa gdp (constant 2005 prices, $ billion), 2013–17 Table 21: South Africa gdp (current prices, $ billion), 2013–17 Table 22: South Africa inflation, 2013–17 Table 23: South Africa consumer price index (absolute), 2013–17 Table 24: South Africa exchange rate, 2013–17

Guardrisk Group (Pty) Ltd The Hollard Insurance Company Ltd Old Mutual Ltd Santam Limited