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South Africa: Insurance industry update - October 2025

17 October 2025

Our October 2025 insurance update for South Africa highlights recent developments in the industry.

Key topics include:

  • The tangible business impact of intangible assets such as brand
  • The complexities of business line allocations under Solvency II
  • Mergers and acquisition under IFRS 17
  • Solvency II changes and what the latest updates mean for South Africa
  • Case study: Converting a typical South African funeral model to Milliman Mind
  • Managing catastrophe (CAT) bond risk—from geocoding to pricing
  • CAT bond market breaks records in 2025: What is behind the surge?

Susan Melmed

Chris van der Merwe

Cameron Hollaway

Nalen Michael

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