Industry Performance

The Life Insurance Association, Singapore (LIA Singapore) today announced industry results for the period January to September 2017 (YTD 3Q2017), with an 18 per cent increase in total weighted new business premiums1 amounting to S$2,747.7 million for the first three quarters of the year.

There was a strong 14 per cent increase in sum assured for new business compared to the corresponding period in 2016, totalling S$...

-- Published 08 November 2017 --

The Life Insurance Association Singapore (LIA Singapore) today announced that the industry continues on a momentum of strong growth from the first quarter, having achieved a total of S$1,682.0 million in weighted new business premiums1  for the first half of 2017. Accordingly, the industry recorded a significant 10 per cent increase in sum assured for new business compared to the corresponding period in 2016, totalling S$55.9 billion. This is...

-- Published 07 August 2017 --
Positive growth in single premium and annual premium business due to new products and distribution channels

Singapore’s life insurance industry started the year strongly with a total of S$811.0 million in weighted new business premiums1 for the period January to March (1Q2017), a 19 per cent increase compared to 1Q2016. The industry continued to contribute to Singapore’s economy which expanded by two per cent in 2016, beating initial forecasts2. Results for 1Q2017 were announced by the Life Insurance Association Singapore (LIA Singapore) today....

-- Published 08 May 2017 --
Life insurance industry drives efforts to combat factors contributing to medical claims escalation

The Life Insurance Association Singapore (LIA Singapore) today announced industry results for the period January to December 2016 (YTD 4Q2016).
 
Total weighted new business premiums1 for YTD 4Q2016 saw healthy growth of a 10 per cent increase compared to the same period in 2015, with increased interest in non-participating products.

Compared to the national Gross Domestic Product (GDP) for 2016 of 1.8...

-- Published 14 February 2017 --
Approximately 10,000 more Singapore residents get additional health insurance coverage mostly through Integrated Shield Plans and riders

The Life Insurance Association Singapore (LIA Singapore) today announced industry results for the period January to September 2016 (YTD 3Q2016).
 
Overall, the life insurance industry in Singapore continues to report steady progress with an eight percent increase in total weighted new business premiums1 for YTD 3Q2016 compared to the same period in 2015. Total weighted new business premiums amounted to S$2,331 million for the first three...

-- Published 08 November 2016 --
Increased take-up in single premium non-linked products over linked products as individuals seek stability amid increased volatility in the investment market

The Life Insurance Association Singapore (LIA Singapore) today announced industry results for the period January to June 2016 (1H2016). Overall, the life industry achieved a total of $1,522.6 million in weighted new business premiums1 for the first half of 2016, a 13 per cent increase over the same period in 2015.

The preference for non-linked premium products over linked products remained consistent across the first...

-- Published 10 August 2016 --

The Life Insurance Association Singapore (LIA Singapore) today announced industry results for the period January to March 2016 (1Q2016). Overall, the life industry achieved a total of $682.1 million in weighted new business premiums1 for the first quarter of 2016, a five per cent increase compared to the first quarter of 2015.

Compared to the same period in 2015, the industry also recorded:
a) a five per...

-- Published 10 May 2016 --
Protection cover increased by S$12.6 billion, up 14 per cent in 2015

The Life Insurance Association Singapore (LIA Singapore) today announced industry results for the period January to December 2015 (YTD 4Q2015).

Overall, the industry achieved a total of almost $3 billion in weighted new business premiums1 for the year ended 31 December 2015.

Weighted annual premium sales saw a seven per cent increase to S$2 billion when compared to 2014.
...

-- Published 10 February 2016 --

The Life Insurance Association, Singapore (LIA Singapore) today announced industry results for the period January to September 2015 (YTD 3Q2015) with a total of S$2.166 billion achieved in weighted1 new business premiums, recording a seven per cent increase over the same period in 2014.

There was a significant 21 per cent increase in the uptake of annual premium products in 3Q2015 compared to the corresponding period...

-- Published 05 November 2015 --
Increased uptake of Investment-Linked Products seen

The Life Insurance Association, Singapore (LIA Singapore) today announced industry results for the period January to June 2015 (1H2015) with a total of S$1,352.7 million achieved in weighted1 new business premiums, recording a three per cent increase over the same period in 2014.

The industry achieved a three per cent growth to S$964.9 million of weighted annual premium products, and a two per cent growth to S$...

-- Published 06 August 2015 --