Average Underwriter Salary in South Africa

R228,711
Avg. Base Salary (ZAR)
10%
ZAR 107k
MEDIAN
ZAR 229k
90%
ZAR 387k

The average salary for an Underwriter is R228,711

Base Salary
R107k - R387k
Bonus
R6k - R51k
Profit Sharing
R12 - R149k
Commission
R0 - R55k
Total Pay
R118k - R433k
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What is the Pay by Experience Level for Underwriters?

What Do Underwriters Do?

Underwriter Tasks
  • Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
  • Underwrite, submit, approve or pend coverage amounts and premiums, and present decisions to management.
  • Monitor existing policies for compliance with company guidelines.
  • Manage underwriting territory and select new business based on analysis of their profitability.
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FAQs About Underwriters

What is the highest pay for Underwriters?

Our data indicates that the highest pay for an Underwriter is ZAR 387k / year

What is the lowest pay for Underwriters?

Our data indicates that the lowest pay for an Underwriter is ZAR 107k / year

How can Underwriters increase their salary?

Increasing your pay as an Underwriter is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are an Underwriter that oversees more junior Underwriters, this experience can increase the likelihood to earn more.