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Largest Insurance Carriers Public Companies in South Africa
Benchmark revenue and EBITDA valuation multiples for public comps like
Discovery, Sanlam, OUTsurance Group, Old Mutual and Momentum Group.
 | Discovery Ltd is a financial services organization. It operates in the healthcare, life insurance, short-term insurance, long-term savings, banking and wellness markets. It specializes in health insurance, life assurance, wellness, investments and savings, short-term insurance, and banking. The company generates revenue through its insurance and financial services, with primary markets in South Africa and the UK, and presence in Canada, the USA, Singapore, Australia, and China. | $17 | +33% | $11B | $11B | 1.8x | - | ||
| Sanlam Ltd sells insurance products and provides investment and wealth management services. Its operating segments include Sanlam Life and Savings, further divided into SA Retail Affluent provides life insurance and investment solutions to the middle and upper level of the market, SA Retail Mass provides life insurance and investment solutions to the entry level market; and Sanlam Corporate provides employee benefits services, group risk and investment services to retirement funds and corporates; Sanlam Emerging Markets incorporates Sanlam’s businesses outside of South Africa, except for Sanlam UK and the smaller businesses in Australia; Sanlam Investment Group incorporates investment and wealth management businesses; and Santam being Sanlam’s general insurance provider in South Africa. | $5 | 0% | $11B | $10B | 0.6x | - | ||
| OUTsurance Group Ltd is an insurance group that specialises in Property and Casualty insurance. Its main segments include personal insurance, business insurance, compulsory third-party vehicle insurance, life insurance, and administration services. The company provides motor, home, business, life, funeral, and pet insurance products through its subsidiaries. The company’s primary source of revenue is insurance premiums. The group’s activities are focused on the South African, Australian and Irish markets. | $4 | -6% | $7B | $7B | 2.9x | - | ||
| Old Mutual Ltd provides financial services that include wealth management, banking, asset management, and insurance. The firm is organized into the following operational segments: the mass and foundation cluster; Personal Finance and Wealth Management; Old Mutual Investments; Old Mutual corporate; Old Mutual Insure; Old Mutual Africa Regions; and other group activities. | $1 | +13% | $3B | $2B | 0.1x | 3.7x | ||
| Momentum Group Ltd is engaged in life insurance and integrated financial services sectors. It operates in South Africa, the UK, Guernsey, India, Botswana, Ghana, Lesotho, Mozambique, and Namibia. The company operates through brands like Momentum, Metropolitan, Guardrisk, and Eris Properties. | $2 | +16% | $3B | $1B | 0.1x | - | ||
| Santam Ltd is a South African general insurance group. The company offer a range of policies against eventualities such as property damage, motor accidents, loss of income, crop losses and catastrophe events, as well as reinsurance. The company helps mitigate risk to protect and grow financial wellbeing, and clients’ insured losses are paid out of invested premiums. | $24 | -8% | $3B | $3B | 0.9x | 5.0x | ||
| Clientele Ltd is a diversified financial services group. It markets, distributes, and underwrites insurance and investment products. The company's operating segment includes Clientele Life Insurance, 1Life Insurance, Non-Life Insurance, Emerald Life Insurance, and CBC Rewards, Mobile & Direct Rewards. Its insurance products and services include Legal, Mobile, Wealth, Credit Life, Investments, and others. It generates maximum revenue from the 1Life insurance segment, which involves the sale and administration of long-term insurance risk policies. The group currently operates in the South African market only. | $1 | +64% | $542M | $563M | 2.0x | - | ||
| Median | $4 | +13% | $3B | $3B | 0.9x | 4.4x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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