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Insurance Average Salaries in South Africa 2026

How much money does a person working in Insurance make in South Africa?


Average Monthly Salary
30,900 ZAR
( 370,000 ZAR yearly)

LOW
11,600
ZAR AVERAGE
30,900
ZAR HIGH
60,200
ZAR
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Insurance in South Africa typically earns around 30,900 ZAR. Salaries range from 11,600 ZAR (lowest average) to 60,200 ZAR (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Insurance domain in South Africa exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Insurance
Actuarial Analyst44,300 ZAR
Actuarial Assistant31,200 ZAR
Actuarial Specialist31,700 ZAR
Actuary44,100 ZAR
Adjustment Insurance Clerk12,300 ZAR
Assistant Broker21,600 ZAR
Assistant Claims Manager34,100 ZAR
Associate Insurance Representative16,300 ZAR
Auditing Insurance Manager49,300 ZAR
Blockchain Insurance Auditor29,900 ZAR
Broker31,600 ZAR
Claim Advocacy Professional34,200 ZAR
Claims Adjuster12,300 ZAR
Claims Analyst17,300 ZAR
Claims Examiner17,300 ZAR
Claims Manager47,000 ZAR
Claims Processor12,400 ZAR
Claims Representative14,200 ZAR
Claims Resolution Specialist36,800 ZAR
Claims Supervisor33,000 ZAR
Complaints Specialist28,800 ZAR
Compliance Examiner30,100 ZAR
Compliance Officer25,400 ZAR
Compliance Reviewer29,800 ZAR
Consultant31,700 ZAR
Drone Claims Adjuster14,600 ZAR
Eligibility Interviewer33,700 ZAR
Eligibility Specialist33,500 ZAR
Insurance Account Manager38,300 ZAR
Insurance Accounts Executive34,000 ZAR
Insurance Adjuster29,800 ZAR
Insurance Agent18,600 ZAR
Insurance Analyst32,700 ZAR
Insurance Appraiser32,900 ZAR
Insurance Claims Clerk12,200 ZAR
Insurance Compliance Officer38,100 ZAR
Insurance Data Scientist31,100 ZAR
Insurance Examiner30,100 ZAR
Insurance Fraud Investigator28,100 ZAR
Insurance Investigator30,900 ZAR
Insurance Manager55,500 ZAR
Insurance Operations Manager57,500 ZAR
Insurance Policy Processing Clerk12,200 ZAR
Insurance Pricing Assistant26,400 ZAR
Insurance Product Manager39,700 ZAR
Insurance Program Manager44,700 ZAR
Insurance Project Manager40,500 ZAR
Insurance Quality Assurance Agent28,700 ZAR
Insurance Sales Agent19,600 ZAR
Insurance Sales Director54,200 ZAR
Insurance Sales Manager43,900 ZAR
Insurance Sales Representative17,100 ZAR
Insurance Team Leader34,100 ZAR
Insurance Underwriter25,400 ZAR
Insurtech Analyst31,200 ZAR
Loss Control Specialist33,200 ZAR
Loss Prevention Investigator35,800 ZAR
Loss Prevention Manager45,400 ZAR
Loss Prevention Specialist33,200 ZAR
Marine Underwriter24,800 ZAR
Medical Auditor32,800 ZAR
Monitoring and Performance Officer22,600 ZAR
Parametric Insurance Specialist31,900 ZAR
Payment Services Specialist34,500 ZAR
Peer-to-Peer Insurance Manager38,800 ZAR
Policy Change Director52,200 ZAR
Policy Change Supervisor36,100 ZAR
Policy Change Technician16,200 ZAR
Risk Analyst37,400 ZAR
Risk Management Director64,900 ZAR
Risk Management Supervisor42,000 ZAR
Risk Manager62,600 ZAR
Risk Modeling Manager62,600 ZAR
Social Media Risk Analyst35,100 ZAR
Title Insurance Typist28,800 ZAR
Training Manager37,800 ZAR
Underwriting Assistant16,800 ZAR

Insurance Jobs Pay Scale and Salaries in South Africa

Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.

  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Insurance in South Africa range from 11,600 ZAR (starting average salary) to 60,200 ZAR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Insurance is 28,200 ZAR, implying that half of the workforce in South Africa earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Insurance in South Africa earn less than 21,800 ZAR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 34,100 ZAR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Insurance in South Africa. The analysis revealed that roughly 65% of all reported salaries fell within the range of 15,600 ZAR to 26,400 ZAR. Approximately 20% of salaries were below the 15,600 ZAR mark, while 10% ranged from 26,400 ZAR to 31,400 ZAR. Only 5% of individuals earned a gross salary of 31,400 ZAR or higher.