Eswatini Insurance Industry – Key Trends and Opportunities to 2025

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

The Eswatini insurance market size was $109.6 million in 2021. The market is expected to grow at a CAGR of more than 8% from 2020 to 2025.

The Eswatini insurance market research report provides a detailed outlook by product category for the Swazi insurance industry. It provides 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 period and forecast period. The report also analyzes distribution channels operating in the segment and gives a comprehensive overview of the Swazi economy and demographics. Moreover, it provides detailed information on the competitive landscape in the country and includes details of insurance regulations and recent changes in the regulatory structure.

Eswatini Insurance Industry

To gain more information on the Eswatini insurance market forecast,  download a free report sample

What are the key Eswatini insurance market trends?

On January 8, 2021, the Financial Services Regulatory Authority (FSRA) issued Circular No.1 of 2021, which came with immediate effect regarding the settlement of all funeral and burial claims. The Circular stipulates that insurers are required to settle funeral-related claims within 24 hours after receiving the receipt of claims, along with all relevant claim documents.

The Micro Insurance Regulations, 2020 were established in Eswatini and came into force on December 18, 2020. Microinsurance products are described in the Regulations as being available, accessible, and inexpensive to low-income people. The Regulations require potential microinsurers to submit a written licensing application to the authorities. Microinsurers’ capital requirements are reduced, with a minimum paid-up share capital or non-distributable reserves of 400,000 Emalangeni required.

What are the key segments in the Eswatini insurance market?

The key segments in the Eswatini insurance market are life insurance and general insurance.

Life insurance market in Eswatini

The Eswatini insurance industry was dominated by the life insurance segment in 2020. In comparison to developed countries and emerging markets, Eswatini’s life insurance market penetration remained low over the review period. The life insurance segment’s paid claims increased in 2020, owing mostly to the spread of COVID-19 and the rise in infections in the country.

General insurance market in Eswatini

The loss ratio of the general insurance segment increased in 2020, owing primarily due to the impact of the COVID-19 pandemic and the closure of economic activities in the country. Due to the closure of businesses and other economic activities in the country, paid claims in the general insurance market also decreased in 2020.

Eswatini Insurance Market Analysis by Segments

Eswatini Insurance Market Analysis by Segments

For more segment insights, download a free report sample

Which are the leading companies in the Eswatini insurance market?

Some of the leading insurance companies in Eswatini are Eswatini Royal Insurance Corporation, Old Mutual Life Assurance Company (Swaziland) Limited, Metropolitan Life Swaziland, Lidwala Insurance, Liberty Life Swaziland, Dups Direct Insurance, Orchard Insurance, Safrican Swaziland, United General Insurance, and Momentum Life Swaziland. Eswatini Royal Insurance Corporation was the leading insurer in 2020.

Eswatini Insurance Market Analysis by Companies

Eswatini Insurance Market Analysis by Companies

To know more about the leading companies, download a free report sample

Market Report Overview

Market size (2021)

$109.6 million
CAGR (2020 – 2025) >8%
Key segments Life Insurance and General Insurance
Leading companies Eswatini Royal Insurance Corporation, Old Mutual Life Assurance Company (Swaziland) Limited, Metropolitan Life Swaziland, Lidwala Insurance, Liberty Life Swaziland, Dups Direct Insurance, Orchard Insurance, Safrican Swaziland, United General Insurance, and Momentum Life Swaziland

Scope

This report provides a comprehensive analysis of the Eswatini insurance industry –

  • It provides historical values for the Swazi insurance industry for the report’s review period, and projected figures for the forecast period.
  • It offers a detailed analysis of the key categories in the Swazi insurance industry, and market forecasts till 2025.
  • It profiles the top life insurance companies in Eswatini and outlines the key regulations affecting them.

Reasons to Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Swazi insurance industry, and each category within it.
  • Understand the demand-side dynamics, key market trends, and growth opportunities in the Swazi insurance industry.
  • Assess the competitive dynamics in the Swazi insurance industry.
  • Identify growth opportunities and market dynamics in key product categories.

State Life Insurance Corporation of Eswatini
Jubilee Life Insurance Company Limited
EFU Life Assurance Limited
Adamjee Life Insurance Company Limited
Pak Qatar Family Takaful Limited
IGI Life Insurance Limited
TPL Life Insurance Limited
Askari Life Insurance Company Limited
E.F.U. General Insurance Company Limited
Adamjee Insurance Company Limited
Jubilee General Insurance Company Limited
Security General Insurance Company Limited
IGI General Insurance Limited
United Insurance Company of Eswatini Limited
UBL Insurers Limited
East West Insurance Company Limited
Askari General Insurance Company Limited
Atlas Insurance Limited

Table of Contents

Table of Contents

Executive Summary

Economy Overview

Regulatory and Compliance

Key Market Trends

Life Insurance Overview

Penetration and Growth

Premiums Trends

General Insurance Overview

Penetration and Growth

Premiums and Profitability

Competitive Landscape

Insurance Industry – Market Share and Concentration

Competitor Profiles

Reinsurance Overview

Ceded Premiums by Segment

Regulatory and Compliance Framework

Insurtech

Appendix

Frequently asked questions

Eswatini Insurance Industry – Key Trends and Opportunities to 2025 standard reports
Currency USD
$1,450

Can be used by individual purchaser only

$2,900

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Eswatini Insurance Industry – Key Trends and Opportunities to 2025 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image
testimonial-image

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Financial Services
New
France Life Insurance Market Size and Trends by Line of…
$3,999 | June 2024
Financial Services
New
Wealth Management Trends and Themes in 2024
$5,250 | May 2024
Financial Services
New
Peru Insurance Industry - Key Trends and Opportunities to 2028
$1,450 | May 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Eswatini Insurance Industry – Key Trends and Opportunities to 2025 in real time.

  • Access a live Eswatini Insurance Industry – Key Trends and Opportunities to 2025 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.