Africa Insurance Outlook 2026/27

The Africa Insurance Outlook 2026 brings together Deloitte specialists across actuarial, audit, risk and advisory to cover what the 2025 results reveal, how finance and actuarial functions are maturing after IFRS 17, and where AI is moving from pilot to production.

Beyond South Africa, the Outlook tracks the regulatory and capital reforms reshaping markets in Southern, East and West Africa, and what they mean for insurers operating across borders.

What you'll find in the compendium

South Africa: results, reporting and pricing

• South Africa 2025 financial and embedded value results. What the latest results of the country's largest insurance groups show about profitability, new businessand capital.
• Insurance finance after IFRS 17. How finance and actuarial teams can move from compliance to a reporting framework that supports decisions.
• In-force repricing: the defensibility test. What makes a repricing decision fair, well governed and able to stand up to scrutiny.
• Making IFRS sensitivity disclosures more useful. How to make sensitivity disclosures informative and comparable for users of the financial statements.

AI in insurance

• Agentic AI in South African insurance. What changes when AI moves from recommending to deciding, and what insurers need in place first.
• Model risk management in the age of AI. Findings from Deloitte's EMEA survey on governing models that are harder to explain.

Life insurance across sub-Saharan Africa

• Rising maintenance costs and stagnant growth. The cost pressures facing life insurers and the operational and technology levers available.

Regulatory and market outlook across Africa

• FIMA in focus: Namibia. How the new framework changes liability valuation, capital and the role of the valuator.
• East Africa's insurance outlook. Growth and constraints across Kenya, Tanzania, Uganda and Ethiopia.
• Risk-based capital in Ghana. What the new capital adequacy regime requires and the gaps insurers still need to close.
• Nigeria's recapitalisation under NIIRA 2025. What the reform means for capital, consolidation and strategy.