Home > Salary > South Africa > Underwriter Iii
The occupation of an Underwriter III involves assessing and evaluating insurance applications to determine the risk level and appropriate coverage for clients. Underwriters III typically work with complex and high-value policies, such as commercial or specialty insurance. They review various factors, including financial statements, industry trends, and claims history, to make informed decisions on policy approvals, terms, and pricing. Underwriter III also collaborate with brokers, agents, and other professionals to gather necessary information and provide recommendations on risk management strategies. They may negotiate terms and conditions with clients and ensure compliance with underwriting guidelines and regulations. Strong analytical skills, attention to detail, and knowledge of insurance products and industry trends are essential for this role.
Estimated Yearly Salary: 192,592 ZAR
Estimated Monthly Salary: 16,049 ZAR
Estimated Weekly Salary: 3,704 ZAR per week
Estimated Hourly Salary: 93 ZAR per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 15,520 ZAR
Estimated Weekly Salary: 3,582 ZAR per week
Estimated Hourly Salary: 90 ZAR per hour
Last revision of data: 2024-01-03
Estimated Yearly Salary: 9,630 USD
Estimated Monthly Salary: 803 USD
Estimated Weekly Salary: 185 USD per week
Estimated Hourly Salary: 5 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 192,592 ZAR
Estimated Monthly Salary: 16,049 ZAR
Estimated Weekly Salary: 3,704 ZAR per week
Estimated Hourly Salary: 93 ZAR per hour
By working as Underwriter Iii a person can save up to 531 USD per month or 6,376 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in South Africa, see costs of living in South Africa.
Estimated Yearly Salary for Underwriter Iii
Last revision of data: 2025-01-04
Data as of 2025
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Underwriter Iii salary in South Africa
Average Yearly Salary of Underwriter Iii in South Africa is approximately 192,592 ZAR (9,630 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Underwriter Iii do?
The occupation of an Underwriter III involves assessing and evaluating insurance applications to determine the risk level and appropriate coverage for clients. Underwriters III typically work with complex and high-value policies, such as commercial or specialty insurance. They review various factors, including financial statements, industry trends, and claims history, to make informed decisions on policy approvals, terms, and pricing. Underwriter III also collaborate with brokers, agents, and other professionals to gather necessary information and provide recommendations on risk management strategies. They may negotiate terms and conditions with clients and ensure compliance with underwriting guidelines and regulations. Strong analytical skills, attention to detail, and knowledge of insurance products and industry trends are essential for this role.
Skills: Underwriter III, Insurance, Risk assessment, Policy evaluation, Analytical skills, Compliance, Specialty insurance.
Job industry: Insurance
Job industry: Insurance
How much does Underwriter Iii make?
Salary details
How much does Underwriter Iii make?Estimated Yearly Salary: 192,592 ZAR
Estimated Monthly Salary: 16,049 ZAR
Estimated Weekly Salary: 3,704 ZAR per week
Estimated Hourly Salary: 93 ZAR per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 186,240 ZAREstimated Monthly Salary: 15,520 ZAR
Estimated Weekly Salary: 3,582 ZAR per week
Estimated Hourly Salary: 90 ZAR per hour
Last revision of data: 2024-01-03Underwriter Iii estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 9,630 USD
Estimated Monthly Salary: 803 USD
Estimated Weekly Salary: 185 USD per week
Estimated Hourly Salary: 5 USD per hour
Difference in salary year over year or average salary increase is approximately
3 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Country:
Salary comparison to National average
South Africa is a diverse and vibrant country located at the southernmost tip of the African continent. It has a population of approximately 59 million people and covers an area of around 1.2 million square kilometers. The country is known for its rich cultural heritage, stunning landscapes, and abundant wildlife.
Estimated national average yearly salary is 126,956 ZAR (6,780 USD). Value indicated is pre-tax. Below graph shows estimated Underwriter Iii job salary compared to average salary in South Africa.
Comparison shows that a person working as Underwriter Iii in South Africa earns on average:
1.52 times the average salary (or 152% of average salary).
Estimated national average yearly salary is 126,956 ZAR (6,780 USD). Value indicated is pre-tax. Below graph shows estimated Underwriter Iii job salary compared to average salary in South Africa.
Comparison shows that a person working as Underwriter Iii in South Africa earns on average:
1.52 times the average salary (or 152% of average salary).
Is Underwriter Iii a well paid job?
Yes, our data shows that Underwriter Iii is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.What is considered a high salary for Underwriter Iii?
High salary for Underwriter Iii would be somewhere between 211,851 ZAR and 279,258 ZAR. However this is an estimation based on Gaussian Distribution.How much can you save working as Underwriter Iii in South Africa?
Living in South Africa the approximate monthly expenses are: 271 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 192,592 ZAR
Estimated Monthly Salary: 16,049 ZAR
Estimated Weekly Salary: 3,704 ZAR per week
Estimated Hourly Salary: 93 ZAR per hour
By working as Underwriter Iii a person can save up to 531 USD per month or 6,376 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in South Africa, see costs of living in South Africa.
Salary comparison to region and neighbouring coutries
Country's neighbours are: Namibia, Botswana, Zimbabwe, Mozambique, Eswatini, Lesotho. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Underwriter Iii
Last revision of data: 2025-01-04Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
+12% salary increase- 6 to 10 years of experience yields
+25% salary increase- 11 to 15 years of experience yields
+16% salary increase- 16 to 25 years of experience yields
+9% salary increase- more than 25 years of experience yields
+10% salary increaseTop 10 highest salaries in South Africa
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Data as of 2025Random salary:
Voip engineer (206,920 ZAR per year, pre-tax.)
Nursing instructor (143,452 ZAR per year, pre-tax.)
Lab section supervisor (193,627 ZAR per year, pre-tax.)
Project engineer rubber plastic components (189,180 ZAR per year, pre-tax.)
Biochemist (175,880 ZAR per year, pre-tax.)
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