Singapore's life insurance sector up 3% to S$4.2b in 2018

Pedro Gonçalves
clock • 2 min read

Singapore's life insurance industry posted a record 3% growth in weighted new business premiums to S$4.2bn for the whole of 2018, compared with the previous year. Figures from the Life Insurance Association (LIA) show that while sales of annual premium products continue to show stable growth at 6% to S$2.78bn, there was a 3% drop in the uptake of single premium plans to S$1.42bn. During a briefing, the Life Insurance Association Singapore attributed the lacklustre sales of single premium plans to turbulent markets late last year, combined with the regulatory requirement to remove the ...

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