Working in the insurance industry can be both rewarding and challenging, but one thing that’s often overlooked by aspiring insurance agents is the fact that finding a job in this industry isn’t easy. Since it’s such a huge field with plenty of companies, it can be difficult to stand out and land your first job at an insurance company, especially if you have no experience. But don’t fret, because we did the hard work for you! Here are ten of the top insurance companies that hire a lot of people in South Africa.
1) Old Mutual
This insurance company has over 6 300 employees worldwide. In South Africa alone, they have 882 employees and are hiring. It’s possible to work your way up in one of their many leadership positions – you could be on your way to running an entire branch! They hire more workers each year, and they’re always looking for eager applicants ready to jump into action. Old Mutual is responsible for some life-changing policies; it works hard at making sure every policy is what its customers need it to be.
2) Liberty Holdings Limited
Headquartered in Pretoria, Liberty Holdings Limited is South Africa’s largest insurance provider. With more than 2,5 million customers and 1 400 employees, Liberty offers a wide range of financial services to individuals, companies and institutions. It’s particularly well known for its range of life insurance policies as well as its vehicles and home loan financing.
3) FirstRand Limited
FirstRand Limited is an investment holding company. The Company offers various financial products and services. It operates through two segments: Financial Services, which includes banking and insurance; and Corporate, which includes holdings activities and investments across a range of industries, as well as treasury services for government entities. FirstRand was founded on January 19, 2000 and is headquartered in Johannesburg, South Africa.
4) Bidvest Group Limited
Since inception Bidvest has invested over R10 billion into acquisitions, during which time it has established itself as one of South Africa’s largest and most successful companies. It is now listed on stock exchanges in London, Johannesburg and Cape Town and is considered to be one of South Africa’s top 100 companies. With more than 32 000 employees across its operations, Bidvest today services a diverse range of customers including multinational corporations and government departments. For its part, Bidvest aims to provide quality service while offering long-term value to all stakeholders. Its Employee Stock Ownership Plan (ESOP) is one measure that helps it achieve just that. Established in 1981 with 100 000 equity shares allocated for employee ownership.
5) Brand New Day Group
New Day Group is one of South Africa’s most successful insurance companies. It was first established as New Day Compensation and has now grown to become one of South Africa’s most trusted names for both personal and business insurance. The company currently employs close to 200 individuals, but it’s looking to expand its workforce. If you’re interested in working for an industry leader that can provide security and stability for your family, then you should consider applying for positions at New Day Group today.
6) FNB – Rand Merchant Bank
FNB is South Africa’s largest financial services group. It has more than 1,700 branches and employs more than 70,000 people across Africa. In terms of assets, it has R526bn worth of assets under management. RMB employs 18, 000 people while FNB itself as an entity employs just over 65,000 people countrywide with its head office in Johannesburg. The company offers one of South Africa’s best pension plans that provides more than 90% coverage to employees who contribute. They also offer an Employee Share Ownership Plan and are committed to promoting Black Economic Empowerment (BEE).
7) Allan Gray Investment Management (SA) Limited
One of South Africa’s largest investment managers, Allan Gray employs over 300 people. Headquartered in Sandton, it has offices in Johannesburg and Cape Town. The company was founded by Allen C. Gray – who also happens to be one of South Africa’s most celebrated entrepreneurs – after he found himself dissatisfied with his previous employer’s product offerings. Today, more than 30 years later, Allan Gray is one of SA’s most successful financial institutions; according to its website, it manages over R200 billion worth of assets on behalf of 40 000 clients (more than 70% are retail investors). It serves 16 countries across four continents.
8) Investec Asset Management (Pty) Ltd.
This company is well-known for its affinity for employing people from various regions within South Africa. The employees who work there do so because they are given proper training and are given opportunities to advance into better roles, making Investec Asset Management (Pty) Ltd. one of those top 10 insurance companies that hires a lot of people in SA. In order to be considered as an employee by Investec Asset Management (Pty) Ltd., one must first pass their current job market exam after which candidates will be invited to an interview. To get ahead at Investec Asset Management (Pty) Ltd., it’s vital that you stay on top of your game and your prospective field.
9) AEGON Life South Africa
The first thing that stands out when you visit AEGON Life’s website is how easy it is to find information on their range of insurance products. The company’s site is clean and intuitive and guides visitors through what they need, step by step. You can easily start an online quote, check facts and figures, or use tools like Mortality Evaluator to compare different companies based on your age. If you want more information or want to speak with someone directly, you can call them directly through their site and get all your questions answered. In addition to life insurance products, AEGON also offers retirement options and business solutions including tax-free savings accounts (TFSAs). The company covers 24 South African provinces as well as Namibia.
10) Standard Bank Group
As an oldie but goodie, Standard Bank is one of South Africa’s most reputable banking groups. The company offers many professional opportunities, and if you’re interested in joining up, there are plenty of management positions you can apply for. Positions include Risk Officer and Group Head: IT Delivery. If you want to work with people and get your hands dirty, then customer service jobs might be more your speed; these include Technical Specialist (ICT Solutions), Personal Banking Manager – Commercial Banking or Customer Service Representative: Business Banking. There are also roles for graduates to step into within their Graduate Program.
Conclusion
In South Africa, insurance is a growing sector. There are many opportunities for people looking to get into sales, policy servicing or other related jobs. Of course, if you don’t see your ideal position on any list below, you can always go and find another insurance company to work for! The sector is large enough that every business listed above isn’t necessarily hiring at all times. Regardless of where you want to work, though, we hope that at least one place on our list has peaked your interest!