aAs indicated earlier, the African life insurance market is heavily dominated by the South Africa insurance market, which accounts for about 90% grosslife insurance premiums underwritten on the continent. In order to address the potential of this effect on the regression estimates, the data on insurance penetration and financial development were winsorized for the estimations. In addition, separate estimations were undertaken excluding South Africa.The results, while unreported, were qualitatively similar to the reported results. The results are available on request from the authors