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Life Insurance in Singapore, Key Trends and Opportunities to 2018, New Report Launched

The report provides in-depth market analysis, information and insights into the Singaporean life insurance segment, including:

  • The Singaporean life insurance segment’s growth prospects by life insurance category
  • Key trends and drivers for the life insurance segment
  • The various distribution channels in the Singaporean life insurance segment
  • The detailed competitive landscape in the life insurance segment in Singapore
  • Detailed regulatory policies of the Singaporean insurance industry
  • Analysis of various consumer segments in Singaporean life insurance
  • Key developments in the Singaporean life insurance segment
  • New products launched by Singaporean life insurers

The Singaporean life insurance segment generates business largely from the domestic market, although a small proportion of business is generated from Australia, China, Hong Kong, India, New Zealand and Japan. However, the country’s sustained economic development, rapidly growing older population, rising life expectancy and increased high net worth individual (HNWI) business contributed to the segment’s growth during the review period (2009−2013). As such, the gross written premium of the life insurance segment grew at a compound annual growth rate (CAGR) of 8.6%.

Scope

This report provides a comprehensive analysis of the life insurance segment in Singapore:

  • It provides historical values for the Singaporean life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key categories in the Singaporean life insurance segment, along with market forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
  • It analyses the various distribution channels for life insurance products in Singapore.
  • It profiles the top life insurance companies in Singapore and outlines the key regulations affecting them.

Reasons to Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Singaporean life insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Singaporean life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify the growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Singaporean insurance industry and their impact on companies and the industry’s future.

Key Highlights

  • The Singaporean life insurance segment generates business largely from the domestic market, although a small proportion of business is generated from Australia, China, Hong Kong, India, New Zealand and Japan.
  • Singapore’s sustained economic development, rapidly growing older population, rising life expectancy and increased high net worth individual (HNWI) business contributed to the segment’s growth during the review period.
  • On July 30, 2014, the Monetary Authority of Singapore (MAS) announced that customers can purchase life insurance products directly from insurance companies without paying commission.
  • With an aim to strengthen the standards of risk management among insurers operating in Singapore, MAS issued a notice to develop enterprise risk management (ERM) in 2013.
  • Increasing incidences of fraud and crime are expected to pose a challenge for life insurers operating in Singapore.

Spanning over 283 pages, Life Insurance in Singapore, Key Trends and Opportunities to 2018” report covering the Key Facts and Events, Executive Summary, Introduction, Singaporean Insurance Industry Attractiveness, Life Insurance Outlook, Analysis by Distribution Channel, Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Appendix – 1,  Appendix – 2. The report covered companies are – Prudential Assurance, Great Eastern Life, AIA Singapore, NTUC Income, Overseas Assurance, Manulife, Tokio Marine Life, Aviva Ltd, HSBC Insurance, Axa Life

Know more about this report at – http://mrr.cm/4wP

Find all Insurance Report at: http://www.marketresearchreports.com/insurance

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