Eswatini Insurance Industry – Key Trends and Opportunities to 2028
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Eswatini Insurance Market Report Overview
The gross written premium (GWP) of the Eswatini insurance market was SZL2.2 billion ($116.6 million) in 2023. The market will achieve a CAGR of more than 7% during 2024-2028. The Eswatini insurance market research report provides in-depth market analysis, information, and insights into the Eswatini insurance industry. It provides a detailed outlook by product category as well as values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review and forecast periods.
Eswatini Insurance Market Outlook, 2023-2028 (SZL Billion)
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The Eswatini insurance market report also analyzes distribution channels operating in the segment and gives a comprehensive overview of Eswatini’s economy and demographics. It further evaluates the competitive landscape which entails information on segment dynamics, competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.
| Market Size (2023) | SZL2.2 Billion ($116.6 Million) |
| CAGR (2024-2028) | >7% |
| Forecast Period | 2024-2028 |
| Historical Period | 2019-2023 |
| Key Segments | · General Insurance
· Life Insurance |
| Key Companies | · Eswatini Royal Insurance
· Liberty Life · Old Mutual Life · Oracle Life · United Life |
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Eswatini Insurance Market – Key Trends
The key trends that will influence the Eswatini insurance market are the growing popularity of motor insurance and surging healthcare developments. In June 2023, the Sincephetelo MVA Fund of Eswatini implemented SAP’s S/4HANA Private Cloud ERP to speed up claims processing and provide support to victims of MVAs.
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Eswatini Insurance Market by Segments
The key segments in the Eswatini insurance market are life insurance and general insurance. The life insurance sector was the major contributor to the Eswatini GWP share in 2023. The key lines of business (LoB) within the life insurance market are general annuity, endowment, pension, and other life insurance segments. Pension had the highest share in the general insurance industry GWP in 2023.
Eswatini Insurance Market Analysis by Segments, 2023 (%)
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Eswatini Insurance Market – Competitive Landscape
In 2023, Eswatini Royal Insurance was the leading life insurer in Eswatini
A few of the key life insurance companies in the Eswatini insurance market are:
- Eswatini Royal Insurance
- Liberty Life
- Old Mutual Life
- Oracle Life
- United Life
The Eswatini Royal Insurance, established in 1974, offers personal and business insurance products including personal liability, house owners, private motor, life, personal accident, and others.
Eswatini General Insurance Market Analysis by Companies, 2023 (%)
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Eswatini Insurance Market – Latest Developments
- In July 2024, the Luke Commission implemented a medical drone network to address healthcare challenges in rural areas. These drones, powered by solar energy, enable the rapid and efficient delivery of medical supplies such as snakebite antivenom and blood units. The drones are capable of carrying payloads of up to 4kg.
- In June 2023, the Sincephetelo MVA Fund of Eswatini implemented SAP’s S/4HANA Private Cloud ERP to speed up claims processing and provide support to victims of MVAs. This transition from outdated manual processes to the new ERP solution was supported by experienced SAP implementation partner Zimele Technologies.
Eswatini Insurance Market Segments Outlook (Value, SZL Billion, 2019-2028)
- Life Insurance
- General Insurance
Scope
- This report provides a comprehensive analysis of the Eswatini insurance industry.
- It provides historical values for the Eswatini insurance industry for the report’s 2019-2023 review period, and projected figures for the 2024-2028 forecast period.
- It offers a detailed analysis of the key categories in the Eswatini insurance industry and market forecasts for 2028.
- It profiles the top life insurance companies in Eswatini and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Eswatini insurance industry.
- A comprehensive overview of the Eswatini economy, government initiatives, and investment opportunities.
- The Eswatini insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Eswatini insurance industry’s market structure gives details of lines of business.
- Eswatini’s reinsurance business’s market structure gives details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the Eswatini insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Eswatini insurance industry.
- Assess the competitive dynamics in the Eswatini insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Lidwala Insurance
Oracle Insurance
Phoenix of Swaziland
United General
Medscheme Health
Liberty Life
Old Mutual Life
Finsure Assurance
Orchard Insurance
Safrican Swaziland
Table of Contents
Frequently asked questions
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What was the Eswatini insurance market gross written premium in 2023?
The gross written premium of the Eswatini insurance market was SZL2.2 billion ($116.6 million) in 2023.
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What will the growth rate of the Eswatini insurance market be during the forecast period?
The insurance market in Eswatini is expected to achieve a CAGR of more than 7% during 2024-2028.
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Which segment dominated the Eswatini insurance market in 2023?
The life insurance segment dominated the Eswatini insurance market in 2023.
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Which are the major companies operating in the Eswatini general insurance market?
A few of the key companies in the Eswatini general insurance market are Eswatini Royal Insurance, Liberty Life, Old Mutual Life, Oracle Life, and United Life, among others.
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