South Africa Insurance, Companies & Insurance Quote

South Africa insurance department is very dedicated to its consumers as well as providers. A bewildering range of companies dealing with insurance in South Africa is offering short as well as long term insurance. The long term insurance entails term life covering a specific period of time.

The insurance companies that offer long term cover are namely, ABSA Life Ltd, Allan Gray Life Ltd, Alexander Forbes Life Ltd, Capital Alliance Life Ltd, Discovery Life Ltd, Liberty Group Ltd, Metropolitan Life Ltd, Regent Life Assurance Company Ltd, Prosperity Insurance Company Ltd, and many more.

Market status

The insurance industry represents 71% total premiums and is the third highest penetration of insurance in the world. The premium income is expected to reach R77 billion by 2013 showing a growth of 53%. The policy holders are also expected to rise to 25.6 million in 2013 from 16.7 million in 2010. The long term companies are also expecting modest increase. Policy holders can expect growth by 30% in 2013 reaching to 35.7 million.

Major companies

There are South Africa insurance companies offering short term insurance covering against damage, personal liability and loss. Even household insurance and house owners insurance, vehicle insurance, personal accident and personal liability is considered as short term insurance.

Insurance in South Africa includes AIG South Africa Ltd, Alexander Forbes Insurance Company Ltd, Alexander Forbes Group Ltd, Compass Insurance Company Ltd, Dial Direct Insurance Company Ltd, Emerald Insurance Company Ltd, National Insurers Ltd, and the list goes on and on.

There are many companies dealing with insurance in South Africa, short as well as long term insurance cover and is worth considering the advantage you may receive. The insurance providers in South Africa include five year projections specifically for short term insurers.

Insurance in South Africa is based on the consumer standpoint and there is a site that gives you all details about licensed insurers and their coverage. Similarly, the insurance acts, regulations, draft bills and board notices are a section covering all official rules and is of immense use to consumers as well as insurers.

Visiting the SA Insurance site is enough to know all the available types of insurance and you can also download documents as well as forms. This site offers inside information to the consumers.