Synopsis
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.
Summary
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
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.
Table Of Contents
1 Key Facts and Events
2 Executive Summary
3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology
4 Singaporean Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009-2018
5 Life Insurance Outlook
5.1 Consumer Segmentation
5.2 Key Drivers
5.3 Key Trends
5.4 Challenges
5.5 Life Insurance Growth Prospects by Category
5.6 Individual Life Insurance
5.6.1 Individual whole life insurance
5.6.2 Individual general annuity insurance
5.6.3 Individual endowment insurance
5.6.4 Individual term life insurance
5.6.5 Other individual other insurance
5.7 Group Life Insurance
5.8 Life Insurance Growth Prospects by Customer Segment
5.8.1 Individual single-premium insurance
5.8.2 Individual non-single-premium insurance
5.8.3 Group single-premium insurance
5.8.4 Group non-single-premium insurance
5.9 Life Insurance Growth Prospects by Product Type
5.9.1 Total linked insurance business
5.9.2 Total non-linked insurance business
6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 E-commerce
6.5 Brokers
6.6 Other Channels
7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Legislation and Market Practice by Type of Insurance
7.2.1 Life insurance
7.2.2 Property insurance
7.2.3 Motor insurance
7.2.4 Liability insurance
7.2.5 Marine, aviation and transit insurance
7.2.6 Personal accident and health insurance
7.3 Compulsory Insurance
7.3.1 Motor vehicle third-party liability insurance
7.3.2 Workmen’s compensation insurance
7.3.3 Government health insurance
7.4 Supervision and Control
7.4.1 International Association of Insurance Supervisors (IAIS)
7.4.2 Monetary Authority of Singapore (MAS)
7.5 Non-Admitted Insurance Regulations
7.5.1 Overview
7.5.2 Intermediaries
7.5.3 Market practices
7.5.4 Fines and penalties
7.6 Company Registration and Operations
7.6.1 Types of insurance organization
7.6.2 Establishing a local company
7.6.3 Foreign ownership
7.6.4 Types of license
7.6.5 Capital requirements
7.6.6 Solvency margins
7.6.7 Reserve requirements
7.6.8 Investment regulations
7.6.9 Statutory return requirements
7.6.10 Fee structure
7.7 Taxation
7.7.1 Insurance premium or policy taxation
7.7.2 Withholding taxes on premium paid overseas
7.7.3 Corporate tax
7.7.4 VAT
7.7.5 Captives
7.8 Legal System
7.8.1 Introduction
7.8.2 Access to court
7.8.3 Alternative dispute resolution (ADR)
8 Competitive Landscape and Strategic Insights
8.1 Overview
8.2 Leading Companies in the Singaporean Life Insurance Segment
8.3 Comparison of the Top Five Insurers
8.3.1 Gross written premium
8.3.2 Gross claims
8.3.3 Total assets
8.4 Leading Life Insurers - New Product Launches
8.5 Leading Life Insurers - Key Developments
8.6 Prudential Assurance Company Singapore (Pte) Ltd - Company Overview
8.6.1 Prudential Assurance Company Singapore (Pte) Ltd - key facts
8.6.2 Prudential Assurance Company Singapore (Pte) Ltd - key financials
8.7 Great Eastern Life Assurance Co. Ltd - Company Overview
8.7.1 Great Eastern Life Assurance Co. Ltd - key facts
8.7.2 Great Eastern Life Assurance Co. Ltd - key financials
8.8 AIA Singapore Private Ltd - Company Overview
8.8.1 AIA Singapore Private Ltd - key facts
8.8.2 AIA Singapore Private Ltd - key financials
8.9 NTUC Income Insurance Co-Operative Ltd - Company Overview
8.9.1 NTUC Income Insurance Co-Operative Ltd - key facts
8.9.2 NTUC Income Insurance Co-Operative Ltd - key financials
8.1 Overseas Assurance Corporation - Company Overview
8.10.1 Overseas Assurance Corporation - key facts
8.10.2 Overseas Assurance Corporation - key financials
8.11 Manulife (Singapore) Pte, Ltd - Company Overview
8.11.1 Manulife (Singapore) Pte, Ltd - key facts
8.11.2 Manulife (Singapore) Pte, Ltd - key financials
8.12 Tokio Marine Life Insurance Singapore Ltd - Company Overview
8.12.1 Tokio Marine Life Insurance Singapore Ltd - key facts
8.12.2 Tokio Marine Life Insurance Singapore Ltd - key financials
8.13 Aviva Ltd - Company Overview
8.13.1 Aviva Ltd - key facts
8.13.2 Aviva Ltd - key financials
8.14 HSBC Insurance (Singapore) Pte Ltd - Company Overview
8.14.1 HSBC Insurance (Singapore) Pte Ltd - key facts
8.14.2 HSBC Insurance (Singapore) Pte Ltd - key financials
8.15 Axa Life Insurance Singapore Pte Ltd - Company Overview
8.15.1 Axa Life Insurance Singapore Pte Ltd - key facts
8.15.2 Axa Life Insurance Singapore Pte Ltd - key financials
9 Appendix - 1
9.1 Market capitalization trend - Singapore Exchange Ltd (SGX), Singapore
9.2 Economic Performance
9.2.1 GDP at constant prices (US$)
9.2.2 GDP per capita at constant prices (US$)
9.2.3 GDP at current prices (US$)
9.2.4 GDP by key sector
9.2.5 Agriculture, hunting, forestry and fishing net output at current prices (US$)
9.2.6 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
9.2.7 Manufacturing net output at current prices (US$)
9.2.8 Manufacturing net output at current prices as a percentage of GDP
9.2.9 Mining, manufacturing and utilities at current prices (US$)
9.2.10 Mining, manufacturing and utilities at current prices as percentage of GDP
9.2.11 Construction net output at current prices (US$)
9.2.12 Construction net output at current prices as a percentage of GDP
9.2.13 Inflation rate
9.2.14 Exports as a percentage of GDP
9.2.15 Imports as a percentage of GDP
9.2.16 Merchandise exports growth
9.2.17 Merchandise imports growth
9.2.18 Annual average exchange rate SGD-US$
9.3 Infrastructure
9.3.1 Commercial vehicle exports - total value
9.3.2 Commercial vehicle imports - total value
9.3.3 Automotive exports - total value
9.3.4 Automotive imports - total value
9.3.5 Total internet subscribers
9.4 Labor Force
9.4.1 Labor force
9.4.2 Unemployment rate
9.5 Demographics
9.5.1 Household consumption expenditure (US$)
9.5.2 Total population
9.5.3 Age distribution of the total population
9.5.4 Life expectancy
10 Appendix - 2
10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric’s Services
10.5 Disclaimer
List Of Tables
Table 1: Singaporean Life Insurance - Key Facts, 2013
Table 2: Insurance Industry Definitions
Table 3: Singaporean Insurance - Gross Written Premium by Segment (SGD Billion), 2009-2013
Table 4: Singaporean Insurance - Gross Written Premium by Segment (US$ Billion), 2009-2013
Table 5: Singaporean Insurance - Gross Written Premium by Segment (SGD Billion), 2013-2018
Table 6: Singaporean Insurance - Gross Written Premium by Segment (US$ Billion), 2013-2018
Table 7: Singaporean Insurance - Segmentation, Gross Written Premium (% Share), 2009-2018
Table 8: Singaporean Insurance - Direct Written Premium by Segment (SGD Billion), 2009-2013
Table 9: Singaporean Insurance - Direct Written Premium by Segment (US$ Billion), 2009-2013
Table 10: Singaporean Insurance - Direct Written Premium by Segment (SGD Billion), 2013-2018
Table 11: Singaporean Insurance - Direct Written Premium by Segment (US$ Billion), 2013-2018
Table 12: Singaporean Insurance - Segmentation, Direct Written Premium (% Share), 2009-2018
Table 13: Singaporean Life Insurance - Gross Written Premium by Category (SGD Billion), 2009-2013
Table 14: Singaporean Life Insurance - Gross Written Premium by Category (US$ Billion), 2009-2013
Table 15: Singaporean Life Insurance - Gross Written Premium by Category (SGD Billion), 2013-2018
Table 16: Singaporean Life Insurance - Gross Written Premium by Category (US$ Billion), 2013-2018
Table 17: Singaporean Life Insurance - New Business Written Premium (SGD Billion), 2009-2013
Table 18: Singaporean Life Insurance - New Business Written Premium (SGD Billion), 2013-2018
Table 19: Singaporean Life Insurance - Earned Premium (SGD Billion), 2009-2013
Table 20: Singaporean Life Insurance - Earned Premium (SGD Billion), 2013-2018
Table 21: Singaporean Life Insurance - Sum Assured (SGD Trillion), 2009-2013
Table 22: Singaporean Life Insurance - Sum Assured (SGD Trillion), 2013-2018
Table 23: Singaporean Life Insurance - Paid Claims (SGD Billion), 2009-2013
Table 24: Singaporean Life Insurance - Paid Claims (SGD Billion), 2013-2018
Table 25: Singaporean Life Insurance - Incurred Loss (SGD Billion), 2009-2013
Table 26: Singaporean Life Insurance - Incurred Loss (SGD Billion), 2013-2018
Table 27: Singaporean Life Insurance - Loss Ratio (%), 2009-2013
Table 28: Singaporean Life Insurance - Loss Ratio (%), 2013-2018
Table 29: Singaporean Life Insurance - Commissions and Expenses (SGD Billion), 2009-2013
Table 30: Singaporean Life Insurance - Commissions and Expenses (SGD Billion), 2013-2018
Table 31: Singaporean Life Insurance - Combined Ratio (%), 2009-2013
Table 32: Singaporean Life Insurance - Combined Ratio (%), 2013-2018
Table 33: Singaporean Life Insurance - Fraud and Crimes (SGD Billion), 2009-2013
Table 34: Singaporean Life Insurance - Fraud and Crimes (SGD Billion), 2013-2018
Table 35: Singaporean Life Insurance - Total Assets (SGD Billion), 2009-2013
Table 36: Singaporean Life Insurance - Total Assets (SGD Billion), 2013-2018
Table 37: Singaporean Life Insurance - Total Investment Income (SGD Billion), 2009-2013
Table 38: Singaporean Life Insurance - Total Investment Income (SGD Billion), 2013-2018
Table 39: Singaporean Life Insurance - Retentions (SGD Billion), 2009-2013
Table 40: Singaporean Life Insurance - Retentions (SGD Billion), 2013-2018
Table 41: Singaporean Individual Life Insurance - Gross Written Premium by Category (SGD Billion), 2009-2013
Table 42: Singaporean Individual Life Insurance - Gross Written Premium by Category (US$ Billion), 2009-2013
Table 43: Singaporean Individual Life Insurance - Gross Written Premium by Category (SGD Billion), 2013-2018
Table 44: Singaporean Individual Life Insurance - Gross Written Premium by Category (US$ Billion), 2013-2018
Table 45: Singaporean Individual Life Insurance - Direct Written Premium by Category (SGD Billion), 2009-2013
Table 46: Singaporean Individual Life Insurance - Direct Written Premium by Category (US$ Billion), 2009-2013
Table 47: Singaporean Individual Life Insurance - Direct Written Premium by Category (SGD Billion), 2013-2018
Table 48: Singaporean Individual Life Insurance - Direct Written Premium by Category (US$ Billion), 2013-2018
Table 49: Singaporean Individual Life Insurance - Policies by Category (Thousand), 2009-2013
Table 50: Singaporean Individual Life Insurance - Policies Premium by Category (Thousand), 2013-2018
Table 51: Singaporean Individual Whole Life Insurance - Number of Active Policies (Thousand), 2009-2013
Table 52: Singaporean Individual Whole Life Insurance - Number of Active Policies (Thousand), 2013-2018
Table 53: Singaporean Individual Whole Life Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 54: Singaporean Individual Whole Life Insurance - Gross Written Premium (SGD Billion), 2013-2018
Table 55: Singaporean Individual General Annuity Insurance - Number of Active Policies (Thousand), 2009-2013
Table 56: Singaporean Individual General Annuity Insurance - Number of Active Policies (Thousand), 2013-2018
Table 57: Singaporean Individual General Annuity Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 58: Singaporean Individual General Annuity Insurance - Gross Written Premium (SGD Million), 2013-2018
Table 59: Singaporean Individual Endowment Insurance - Number of Active Policies (Thousand), 2009-2013
Table 60: Singaporean Individual Endowment Insurance - Number of Active Policies (Thousand), 2013-2018
Table 61: Singaporean Individual Endowment Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 62: Singaporean Individual Endowment Insurance - Gross Written Premium (SGD Billion), 2013-2018
Table 63: Singaporean Individual Term Life Insurance - Number of Active Policies (Thousand), 2009-2013
Table 64: Singaporean Individual Term Life Insurance - Number of Active Policies (Thousand), 2013-2018
Table 65: Singaporean Individual Term Life Insurance - Gross Written Premium (SGD Million), 2009-2013
Table 66: Singaporean Individual Term Life Insurance - Gross Written Premium (SGD Million), 2013-2018
Table 67: Singaporean Other Individual Insurance - Number of Active Policies (Thousand), 2009-2013
Table 68: Singaporean Other Individual Insurance - Number of Active Policies (Thousand), 2013-2018
Table 69: Singaporean Other Individual Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 70: Singaporean Other Individual Insurance - Gross Written Premium (SGD Billion), 2013-2018
Table 71: Singaporean Group Life Insurance - Number of Active Policies (Thousand), 2009-2013
Table 72: Singaporean Group Life Insurance - Number of Active Policies (Thousand), 2013-2018
Table 73: Singaporean Group Life Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 74: Singaporean Group Life Insurance - Gross Written Premium (SGD Billion), 2013-2018
Table 75: Singaporean Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Table 76: Singaporean Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Table 77: Singaporean Individual Single-Premium Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 78: Singaporean Individual Single-Premium Insurance - Gross Written Premium (SGD Billion), 2013-2018
Table 79: Singaporean Individual Single-Premium Insurance - Direct Written Premium (SGD Billion), 2009-2013
Table 80: Singaporean Individual Single-Premium Insurance - Direct Written Premium (SGD Billion), 2013-2018
Table 81: Singaporean Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Table 82: Singaporean Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Table 83: Singaporean Individual Non-Single-Premium Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 84: Singaporean Individual Non-Single-Premium Insurance - Gross Written Premium (SGD Billion), 2013-2018
Table 85: Singaporean Individual Non-Single-Premium Insurance - Direct Written Premium (SGD Billion), 2009-2013
Table 86: Singaporean Individual Non-Single-Premium Insurance - Direct Written Premium (SGD Billion), 2013-2018
Table 87: Singaporean Group Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Table 88: Singaporean Group Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Table 89: Singaporean Group Single-Premium Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 90: Singaporean Group Single-Premium Insurance - Gross Written Premium (SGD Billion), 2013-2018
Table 91: Singaporean Group Single-Premium Insurance - Direct Written Premium (SGD Billion), 2009-2013
Table 92: Singaporean Group Single-Premium Insurance - Direct Written Premium (SGD Billion), 2013-2018
Table 93: Singaporean Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Table 94: Singaporean Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Table 95: Singaporean Group Non-Single-Premium Insurance - Gross Written Premium (SGD Billion), 2009-2013
Table 96: Singaporean Group Non-Single-Premium Insurance - Gross Written Premium (SGD Billion), 2013-2018
Table 97: Singaporean Group Non-Single-Premium Insurance - Direct Written Premium (SGD Billion), 2009-2013
Table 98: Singaporean Group Non-Single-Premium Insurance - Direct Written Premium (SGD Billion), 2013-2018
Table 99: Singaporean Linked Insurance Business - Number of Active Policies (Thousand), 2009-2013
Table 100: Singaporean Linked Insurance Business - Number of Active Policies (Thousand), 2013-2018
Table 101: Singaporean Linked Insurance Business - Gross Written Premium (SGD Billion), 2009-2013
Table 102: Singaporean Linked Insurance Business - Gross Written Premium (SGD Billion), 2013-2018
Table 103: Singaporean Linked Insurance Business - Direct Written Premium (SGD Billion), 2009-2013
Table 104: Singaporean Linked Insurance Business - Direct Written Premium (SGD Billion), 2013-2018
Table 105: Singaporean Non-Linked Insurance Business - Number of Active Policies (Thousand), 2009-2013
Table 106: Singaporean Non-Linked Insurance Business - Number of Active Policies (Thousand), 2013-2018
Table 107: Singaporean Non-Linked Insurance Business - Gross Written Premium (SGD Billion), 2009-2013
Table 108: Singaporean Non-Linked Insurance Business - Gross Written Premium (SGD Billion), 2013-2018
Table 109: Singaporean Non-Linked Insurance Business - Direct Written Premium (SGD Billion), 2009-2013
Table 110: Singaporean Non-Linked Insurance Business - Direct Written Premium (SGD Billion), 2013-2018
Table 111: Singaporean Life Insurance - Direct Marketing Commission Paid (SGD Million), 2009-2013
Table 112: Singaporean Life Insurance - Direct Marketing Commission Paid (SGD Million), 2013-2018
Table 113: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2009-2013
Table 114: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2013-2018
Table 115: Singaporean Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2009-2013
Table 116: Singaporean Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2013-2018
Table 117: Singaporean Life Insurance - Number of Direct Marketing Distributors, 2009-2013
Table 118: Singaporean Life Insurance - Number of Direct Marketing Distributors, 2013-2018
Table 119: Singaporean Life Insurance - Bancassurance Commission Paid (SGD Billion), 2009-2013
Table 120: Singaporean Life Insurance - Bancassurance Commission Paid (SGD Billion), 2013-2018
Table 121: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2009-2013
Table 122: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2013-2018
Table 123: Singaporean Life Insurance - New Policies Sold Through Bancassurance (Thousand), 2009-2013
Table 124: Singaporean Life Insurance - New Policies Sold Through Bancassurance (Thousand), 2013-2018
Table 125: Singaporean Life Insurance - Number of Bancassurance Distributors, 2009-2013
Table 126: Singaporean Life Insurance - Number of Bancassurance Distributors, 2013-2018
Table 127: Singaporean Life Insurance - Commission Paid to Agencies (SGD Billion), 2009-2013
Table 128: Singaporean Life Insurance - Commission Paid to Agencies (SGD Billion), 2013-2018
Table 129: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2009-2013
Table 130: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2013-2018
Table 131: Singaporean Life Insurance - New Policies Sold Through Agencies (Thousand), 2009-2013
Table 132: Singaporean Life Insurance - New Policies Sold Through Agencies (Thousand), 2013-2018
Table 133: Singaporean Life Insurance - Number of Agencies, 2009-2013
Table 134: Singaporean Life Insurance - Number of Agencies, 2013-2018
Table 135: Singaporean Life Insurance - E-Commerce Commission Paid (SGD Billion), 2009-2013
Table 136: Singaporean Life Insurance - E-Commerce Commission Paid (SGD Billion), 2013-2018
Table 137: Singaporean Life Insurance - New Business Gross Written Premium (SGD Million), 2009-2013
Table 138: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2013-2018
Table 139: Singaporean Life Insurance - New Policies Sold Through E-Commerce (Thousand), 2009-2013
Table 140: Singaporean Life Insurance - New Policies Sold Through E-Commerce (Thousand), 2013-2018
Table 141: Singaporean Life Insurance - Number of E-Commerce Distributors, 2009-2013
Table 142: Singaporean Life Insurance - Number of E-Commerce Distributors, 2013-2018
Table 143: Singaporean Life Insurance - Commission Paid to Brokers (SGD Billion), 2009-2013
Table 144: Singaporean Life Insurance - Commission Paid to Brokers (SGD Billion), 2013-2018
Table 145: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2009-2013
Table 146: Singaporean Life Insurance - New Business Gross Written Premium (SGD Billion), 2013-2018
Table 147: Singaporean Life Insurance - New Policies Sold Through Brokers (Thousand), 2009-2013
Table 148: Singaporean Life Insurance - New Policies Sold Through Brokers (Thousand), 2013-2018
Table 149: Singaporean Life Insurance - Number of Brokers, 2009-2013
Table 150: Singaporean Life Insurance - Number of Brokers, 2013-2018
Table 151: Singaporean Life Insurance - Commission Paid to Other Channels (SGD Million), 2009-2013
Table 152: Singaporean Life Insurance - Commission Paid to Other Channels (SGD Million), 2013-2018
Table 153: Singaporean Life Insurance - New Business Gross Written Premium (SGD Million), 2009-2013
Table 154: Singaporean Life Insurance - New Business Gross Written Premium (SGD Million), 2013-2018
Table 155: Singaporean Life Insurance - New Policies Sold Through Other Channels (Thousand), 2009-2013
Table 156: Singaporean Life Insurance - New Policies Sold Through Other Channels (Thousand), 2013-2018
Table 157: Singaporean Life Insurance - Number of Distributors in Other Channels, 2009-2013
Table 158: Singaporean Life Insurance - Number of Distributors in Other Channels, 2013-2018
Table 159: Singapore - Life Insurance Regulatory Framework
Table 160: Singapore - Property Insurance Regulatory Framework
Table 161: Singapore - Motor Insurance Regulatory Framework
Table 162: Singapore - No-Claims Discounts on Motor Insurance Policies
Table 163: Singapore - Liability Insurance Regulatory Framework
Table 164: Singapore - Minimum Capital Requirements
Table 165: Singapore - Corporate Tax Rates for the Financial Year 2014
Table 166: Number of Insurance Providers in Singapore, 2009-2013
Table 167: Shares of Key Insurers in Singaporean Life Insurance Segment (%), 2013
Table 168: Prudential Assurance Company Singapore (Pte) Ltd, Key Facts
Table 169: Prudential Assurance Company Singapore (Pte) Ltd, Key Financials (SGD Million), 2009-2013
Table 170: Great Eastern Life Assurance Co. Ltd, Key Facts
Table 171: Great Eastern Life Assurance Co. Ltd, Key Financials (SGD Million), 2009-2013
Table 172: AIA Singapore Private Ltd, Key Facts
Table 173: AIA Singapore Private Ltd, Key Financials (SGD Million), 2012-2013
Table 174: NTUC Income Insurance Co-Operative Ltd, Key Facts
Table 175: NTUC Income Insurance Co-Operative Ltd, Key Financials (SGD Million), 2009-2013
Table 176: Overseas Assurance Corporation, Key Facts
Table 177: Overseas Assurance Corporation, Key Financials (SGD Million), 2009-2013
Table 178: Manulife (Singapore) Pte, Ltd, Key Facts
Table 179: Manulife (Singapore) Pte, Ltd, Key Financials (SGD Million), 2009-2013
Table 180: Tokio Marine Life Insurance Singapore Ltd, Key Facts
Table 181: Tokio Marine Life Insurance Singapore Ltd, Key Financials (SGD Million), 2009-2013
Table 182: Aviva Ltd, Key Facts
Table 183: Aviva Ltd, Key Financials (SGD Million), 2009-2013
Table 184: HSBC Insurance (Singapore) Pte Ltd, Key Facts
Table 185: HSBC Insurance (Singapore) Pte Ltd, Key Financials (SGD Million), 2009-2013
Table 186: Axa Life Insurance Singapore Pte Ltd, Key Facts
Table 187: Axa Life Insurance Singapore Pte Ltd, Key Financials (SGD Million), 2009-2013
List Of Figures
Figure 1: Singaporean Insurance - Gross Written Premium by Segment (SGD Billion), 2009-2018
Figure 2: Singaporean Insurance - Dynamics by Segment, Gross Written Premium (2009-2018)
Figure 3: Singaporean Insurance - Direct Written Premium by Segment (SGD Billion), 2009-2018
Figure 4: Singaporean Insurance - Dynamics by Segment, Direct Written Premium (2009-2018)
Figure 5: Singaporean Life Insurance - Number of Active Policies and Gross Written Premium (Percentage Share), 2009 and 2013
Figure 6: Singaporean Unemployment Rate (%), 2009-2013
Figure 7: Singaporean Population Distribution by Age Group (%), 2009-2013
Figure 8: Singaporean Life Insurance - Gross Written Premium by Category (SGD Billion), 2009-2018
Figure 9: Singaporean Life Insurance - Gross Written Premium by Category (% Share), 2013 and 2018
Figure 10: Singaporean Life Insurance - Dynamics by Category, 2009-2018
Figure 11: Singaporean Life Insurance - New Business Written Premium (SGD Billion), 2009-2013
Figure 12: Singaporean Life Insurance - New Business Written Premium (SGD Billion), 2013-2018
Figure 13: Singaporean Life Insurance - Earned Premium (SGD Billion), 2009-2013
Figure 14: Singaporean Life Insurance - Earned Premium (SGD Billion), 2013-2018
Figure 15: Singaporean Life Insurance - Sum Assured (SGD Trillion), 2009-2013
Figure 16: Singaporean Life Insurance - Sum Assured (SGD Trillion), 2013-2018
Figure 17: Singaporean Life Insurance - Paid Claims (SGD Billion), 2009-2013
Figure 18: Singaporean Life Insurance - Paid Claims (SGD Billion), 2013-2018
Figure 19: Singaporean Life Insurance - Incurred Loss (SGD Billion), 2009-2013
Figure 20: Singaporean Life Insurance - Incurred Loss (SGD Billion), 2013-2018
Figure 21: Singaporean Life Insurance - Loss Ratio (%), 2009-2013
Figure 22: Singaporean Life Insurance - Loss Ratio (%), 2013-2018
Figure 23: Singaporean Life Insurance - Commissions and Expenses (SGD Billion), 2009-2013
Figure 24: Singaporean Life Insurance - Commissions and Expenses (SGD Billion), 2013-2018
Figure 25: Singaporean Life Insurance - Combined Ratio (%), 2009-2013
Figure 26: Singaporean Life Insurance - Combined Ratio (%), 2013-2018
Figure 27: Singaporean Life Insurance - Fraud and Crimes (SGD Billion), 2009-2013
Figure 28: Singaporean Life Insurance - Fraud and Crimes (SGD Billion), 2013-2018
Figure 29: Singaporean Life Insurance - Total Assets (SGD Billion), 2009-2013
Figure 30: Singaporean Life Insurance - Total Assets (SGD Billion), 2013-2018
Figure 31: Singaporean Life Insurance - Total Investment Income (SGD Billion), 2009-2013
Figure 32: Singaporean Life Insurance - Total Investment Income (SGD Billion), 2013-2018
Figure 33: Singaporean Life Insurance - Retentions (SGD Billion), 2009-2013
Figure 34: Singaporean Life Insurance - Retentions (SGD Billion), 2013-2018
Figure 35: Singaporean Life Insurance - Investment Portfolio (SGD Billion), 2009-2013
Figure 36: Singaporean Life Insurance - Investment Portfolio, 2009 and 2013
Figure 37: Singaporean Life Insurance - Penetration (%), 2009-2013
Figure 38: Singaporean Life Insurance - Density (Number of Policies Per Capita), 2009-2013
Figure 39: Singaporean Life Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 40: Singaporean Life Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 41: Singaporean Life Insurance - Number of New Policies Sold (Thousand), 2009-2013
Figure 42: Singaporean Life Insurance - Number of New Policies Sold (Thousand), 2013-2018
Figure 43: Singaporean Life Insurance - Premium Per Capita (SGD), 2009-2013
Figure 44: Singaporean Individual Life Insurance - Gross Written Premium by Category (SGD Billion), 2009-2018
Figure 45: Singaporean Individual Life Insurance - Gross Written Premium by Category (% Share), 2013 and 2018
Figure 46: Singaporean Individual Life Insurance - Dynamics by Category, 2009-2018
Figure 47: Singaporean Individual Life Insurance - Direct Written Premium by Category (SGD Billion), 2009-2018
Figure 48: Singaporean Individual Life Insurance - Direct Written Premium by Category (% Share), 2013 and 2018
Figure 49: Singaporean Individual Life Insurance - Dynamics by Category, 2009-2018
Figure 50: Singaporean Individual Life Insurance - Policies by Category (Thousand), 2009-2018
Figure 51: Singaporean Individual Life Insurance - Policies by Category (% Share), 2013 and 2018
Figure 52: Singaporean Individual Life Insurance - Dynamics by Category, 2009-2018
Figure 53: Singaporean Individual Whole Life Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 54: Singaporean Individual Whole Life Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 55: Singaporean Individual Whole Life Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 56: Singaporean Individual Whole Life Insurance - Gross Written Premium (SGD Billion), 2013-2018
Figure 57: Singaporean Individual General Annuity Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 58: Singaporean Individual General Annuity Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 59: Singaporean Individual General Annuity Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 60: Singaporean Individual General Annuity Insurance - Gross Written Premium (SGD Million), 2013-2018
Figure 61: Singaporean Individual Endowment Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 62: Singaporean Individual Endowment Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 63: Singaporean Individual Endowment Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 64: Singaporean Individual Endowment Insurance - Gross Written Premium (SGD Billion), 2013-2018
Figure 65: Singaporean Individual Term Life Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 66: Singaporean Individual Term Life Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 67: Singaporean Individual Term Life Insurance - Gross Written Premium (SGD Million), 2009-2013
Figure 68: Singaporean Individual Term Life Insurance - Gross Written Premium (SGD Million), 2013-2018
Figure 69: Singaporean Other Individual Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 70: Singaporean Other Individual Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 71: Singaporean Other Individual Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 72: Singaporean Other Individual Insurance - Gross Written Premium (SGD Billion), 2013-2018
Figure 73: Singaporean Group Life Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 74: Singaporean Group Life Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 75: Singaporean Group Life Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 76: Singaporean Group Life Insurance - Gross Written Premium (SGD Billion), 2013-2018
Figure 77: Singaporean Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 78: Singaporean Individual Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 79: Singaporean Individual Single-Premium Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 80: Singaporean Individual Single-Premium Insurance - Gross Written Premium (SGD Billion), 2013-2018
Figure 81: Singaporean Individual Single-Premium Insurance - Direct Written Premium (SGD Billion), 2009-2013
Figure 82: Singaporean Individual Single-Premium Insurance - Direct Written Premium (SGD Billion), 2013-2018
Figure 83: Singaporean Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 84: Singaporean Individual Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 85: Singaporean Individual Non-Single-Premium Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 86: Singaporean Individual Non-Single-Premium Insurance - Gross Written Premium (SGD Billion), 2013-2018
Figure 87: Singaporean Individual Non-Single-Premium Insurance - Direct Written Premium (SGD Billion), 2009-2013
Figure 88: Singaporean Individual Non-Single-Premium Insurance - Direct Written Premium (SGD Billion), 2013-2018
Figure 89: Singaporean Group Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 90: Singaporean Group Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 91: Singaporean Group Single-Premium Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 92: Singaporean Group Single-Premium Insurance - Gross Written Premium (SGD Billion), 2013-2018
Figure 93: Singaporean Group Single-Premium Insurance - Direct Written Premium (SGD Billion), 2009-2013
Figure 94: Singaporean Group Single-Premium Insurance - Direct Written Premium (SGD Billion), 2013-2018
Figure 95: Singaporean Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2009-2013
Figure 96: Singaporean Group Non-Single-Premium Insurance - Number of Active Policies (Thousand), 2013-2018
Figure 97: Singaporean Group Non-Single-Premium Insurance - Gross Written Premium (SGD Billion), 2009-2013
Figure 98: Singaporean Group Non-Single-Premium Insurance - Gross Written Premium (SGD Billion), 2013-2018
Figure 99: Singaporean Group Non-Single-Premium Insurance - Direct Written Premium (SGD Billion), 2009-2013
Figure 100: Singaporean Group Non-Single-Premium Insurance - Direct Written Premium (SGD Billion), 2013-2018
Figure 101: Singaporean Linked Insurance Business - Number of Active Policies (Thousand
