South African Insurance Low Leverage High Rewards

Sanlam

Market Cap: R205.8b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Clientèle

Market Cap: R6.2b

Through its subsidiaries, engages in the provision of financial services in South Africa.

Momentum Group

Market Cap: R50.0b

Provides insurance and financial services in South Africa and internationally.

OUTsurance Group

Market Cap: R111.5b

A financial services company, provides insurance and investment products in South Africa, Australia, and Ireland.