Insurance business written by class of insurance — Gross written in South Africa
South Africa: Insurance business written by class of insurance — Gross written was 341.75 Euro in 2023. ▼ Falling
Insurance business written by class of insurance — Gross written in South Africa, 2012–2023
Source: Organisation for Economic Co-operation and Development. Measured in Euro.
Analysis
In 2023, insurance business written by class of insurance — gross written in South Africa stood at 341.75 Euro.
Compared with earlier readings it is up 13.3% on the previous year and down 31.8% over ten years.
Over the whole period, insurance business written by class of insurance — gross written in South Africa peaked at 560.35 Euro in 2015 and was at its lowest, 301.76 Euro, in 2022.
That places South Africa 31st out of 44 countries with data for 2023, putting it in the middle of the range.
Insurance business written by class of insurance — Gross written in South Africa, year by year
| Year | Euro | Change |
|---|---|---|
| 2012 | 499.52 Euro | — |
| 2013 | 500.87 Euro | +0.3% |
| 2014 | 444.15 Euro | -11.3% |
| 2015 | 560.35 Euro | +26.2% |
| 2016 | 356.77 Euro | -36.3% |
| 2020 | 345.1 Euro | -3.3% |
| 2021 | 340.82 Euro | -1.2% |
| 2022 | 301.76 Euro | -11.5% |
| 2023 | 341.75 Euro | +13.3% |
South Africa compared with similar countries
- South Africa's 341.75 Euro is below the median for upper middle income countries, which is 404.93 Euro, 84% of the median. (11 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 472.33 Euro | 356.77 Euro | 560.35 Euro | 5 |
| 2020s | 332.36 Euro | 301.76 Euro | 345.1 Euro | 4 |
Countries ranked near South Africa
More economy & growth data for South Africa
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.4836 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.4 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -4.01 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0094 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -61.95 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -2.16 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -192.73 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0051 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -33.37 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 16.18 % change on previous year (2025)
Frequently asked questions
- What is insurance business written by class of insurance — gross written in South Africa?
- Insurance business written by class of insurance — gross written in South Africa was 341.75 Euro in 2023, according to Organisation for Economic Co-operation and Development.
- What is the highest insurance business written by class of insurance — gross written recorded in South Africa?
- The highest recorded value was 560.35 Euro in 2015.
- What is the lowest insurance business written by class of insurance — gross written recorded in South Africa?
- The lowest recorded value was 301.76 Euro in 2022.
- How does South Africa rank for insurance business written by class of insurance — gross written?
- South Africa ranks 31st out of 44 countries with data for 2023.
- Is insurance business written by class of insurance — gross written rising or falling in South Africa?
- Over the last ten years it is down 31.8%. The long-run trend across the full record is falling.
- Where does this South Africa data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Insurance business written by class of insurance — Gross written premiums. Statizoid updates them automatically from the source API.
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About this data
This dataset covers the breakdown of premiums by insurance class for life and non-life insurance.