KPMG Survey Highlights Financial Strength but Complex Outlook for South African Insurance

KPMG released an industry survey analyzing the South African insurance sector. The analysis found that the industry delivered strong financial results in 2025, supported by solid capital and improved profitability across key segments. However, the survey also noted a complex outlook shaped by climate volatility, affordability pressures, and technology risks.

The findings indicate that while the sector is financially strong, sustainable growth requires disciplined risk management and adaptation to changing operating conditions. The survey analyzed the financial results of 29 non-life insurers, 15 life insurers, and four reinsurers operating in South Africa.