Ornico has released an in-depth report on the marketing and advertising activities of major banks and insurance institutions in 2023. OUTsurance led in advertising, accounting for 72% of all new executions, while the total ad spend reached R4.27 billion across 414 934 executions in TV, radio and print. TV advertising dominated, with Clientele and OUTsurance contributing 64% of all TV activity. Ornico also reviewed editorial content related to Old Mutual, Discovery, Sanlam and Liberty, analysing 11 265 items which highlighted increased claims due to load shedding and climate-related disasters. Despite these challenges, all four insurers reported strong performances, with Sanlam achieving R12.4 billion in net results, Liberty delivering record earnings and Discovery Group seeing a 24% rise in normalised operating profit. Overall, editorial content about the insurance industry was well-balanced, with 92% rated as neutral coverage.
