Top 17 Insurance Companies In South Africa

By | September 1, 2021

Insurance is a means of protection from financial loss. An entity that provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or as a policyholder.

Tips For Choosing An Insurance Company

1. Check if you are dealing with an Independent agent or insurance company.

2. Company history/reputation

3. Understand the insurance company’s financial strength.

4. Coverage.

5. Price

6. Ease of doing business.

7. Available discounts.

8. Ask around for real-time experience.

What Are the Insurance Companies In South Africa?

Renasa Insurance Company Limited

Hollard Insurance Company

Instant Life

MiWay Insurance

Santam Ltd

OUTsurance Durban

Budget Insurance (Pty) Ltd

Dialdirect Insurance

1st for Women


Bryte Insurance Company Limited

Aon South Africa (Pty) Ltd

Better Compare


Lombard Insurance Company Limited

Coface South Africa

Motor & Commercial Insurance

Best short term insurance companies in South Africa

According to the South African Customer Satisfaction Index conducted by Consulta for short-term indemnity, these were the best insurance companies South Africa;

Santam Company

Outsurance Company

Mutual & Federal

Hollard Company

Auto & General

Top life insurance companies in South Africa

Life indemnity is essential for every South African citizen. The top life insurance companies listed are based on the reputation that they have among the members of the public and customer satisfaction;

Metropolitan Company

Sanlam Company

Old Mutual Company

Discovery Life Company

Liberty Life

Momentum Life

Best car insurance companies in South Africa

Based on the total number of complaints, these are the best car indemnity agencies in South Africa;

AA Insurance

PPS AIG Insurance

Virgin Money

FNB Insurance Brokers

Regent Insurance Company


Alexander Forbes

Mutual and Federal

Prime Meridian

What do you mean by insurance?

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. The amount of money charged by the insurer to the Policyholder for the coverage set forth in the insurance policy is called the premium.

What are the benefits of having life insurance?

Advantages of Life Insurance

  • Life insurance provides an infusion of cash for dealing with the adverse financial consequences of the insured’s death.
  • Life insurance enjoys favorable tax treatment unlike any other financial instrument. Death benefits are generally income-tax-free to the beneficiary.

What is the main purpose of life insurance?

The purpose of life insurance is to provide financial protection to surviving dependents after the death of an insured. It is essential for applicants to analyze their financial situation and determine the standard of living needed for their surviving dependents before purchasing a life insurance policy.

What are the benefits of car insurance?

Car insurance can help offset the loss of a huge sum in the following manner: Provides benefits to survivors when an accident results in death. It covers lawsuits, including legal fees brought against you as the result of an accident. Covers the bills of vehicle repairs due to damage caused in an accident.

What are the living benefits of life insurance?

This accumulation of cash value, along with tax advantages available with a permanent life insurance policy, allows you to enjoy many “living benefits,” including guaranteed, tax-deferred growth, tax-free access to cash value, supplemental retirement income, college savings, legacy opportunities, and long-term care.