Industry Performance

Total sum assured for new business increased by S$5.8 billion, up seven per cent in 2014

The Life Insurance Association Singapore (LIA Singapore) today announced industry results for the period January to December 2014 with a robust seven per cent increase in the overall sum assured for new business, totalling S$88.7 billion compared to 2013.

Overall, the industry achieved a total of S$2,788.8 million in weighted new business premiums1  for the year ended 31 December 2014. In 2014, there was a...

-- Published 06 February 2015 --

The Life Insurance Association Singapore (LIA Singapore) today announced industry results for the period January to September 2014 with a significant 23 per cent increase in sales of single premium products, totaling S$640.9 million in weighted1 new business premiums, and of which 14 per cent were CPF-funded policies. This is largely due to increased uptake in participating (“par”) and non-par products during the period under review.

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-- Published 06 November 2014 --

The Life Insurance Association Singapore (LIA Singapore) today announced the industry results for the period January to June 2014 (1H2014) with a total of S$1,315.7 million achieved in weighted1 new business premiums, a one per cent increase over the same period in 2013.

The increase can be attributed to a robust 20 per cent growth to S$378.4 million of weighted single premium products, of which 15 per cent comprised...

-- Published 05 August 2014 --
Overall sales shoot up by 24 per cent

The life industry got off to a good start for 2014, achieving a total of $698.7 million in weighted* new business premiums for the first quarter of 2014.  This represents a 24 per cent growth over the same period in 2013.

The robust performance was due to growth in sales of both single and annual premium products.  Weighted single premium sales galloped 27 per cent to reach $168.2 million for the period under review....

-- Published 06 May 2014 --
Annual premium business remains as pillar of sustained growth

The life insurance industry posted strong results for 2013, hitting $2.8 billion in weighted* new business premiums, a gain of 28 per cent over the previous year’s record.

Sales of annual premium products were particularly strong, totaling $2.1 billion for 2013, up by a sizeable 31 per cent over the same period in 2012.

Sales of single premium products also increased by 20 per cent to reach $...

-- Published 12 February 2014 --
Annual premium business is pillar of sustained growth

The life insurance sector posted strong results for the first nine months of 2013, hitting $2 billion in weighted* new business premiums, a 27 per cent increase over the same period in the previous year.  The growth was driven by healthy sales across all product lines.

Sales of annual premium products were particularly strong, totaling $1.5 billion for the first three quarters of 2013, up by a sizeable 31 per cent over the same period in 2012. ...

-- Published 07 November 2013 --
New health insurance premiums more than double

The life insurance sector posted strong results for the first half of 2013, hitting $1,298 million in weighted* new business premiums, a 24 per cent increase over the same period in the previous year. The growth was driven by healthy sales across all product lines.

Sales of regular premium products were particularly strong, totaling $983.8 million for the first half of 2013, up by a sizeable 31 per cent over the same period in...

-- Published 12 August 2013 --
Regular premium products show positive growth

The life industry achieved a total of $561.8 million in weighted* new business premiums for the first quarter of 2013, a nine per cent increase over the same period in the previous year.

Sales of regular premium products fared well, totaling $428.9 million for the first quarter of 2013, up by a sizeable 19 per cent over the same period in 2012. 

Sales for single premium products however...

-- Published 13 May 2013 --
Four straight quarters of gain in 2012 boost performance by 8 per cent

Four back-to-back quarters of growth has strengthened the life insurance industry last year. Insurers received a total of $2,176.0 million in weighted* new business premiums to conclude the year with an eight per cent increase from the previous year.

The overall performance was driven by quarter-on-quarter growth in the sale of regular premium products, which reached a total $1,589.8 million, up 18 per cent over the same period...

-- Published 06 February 2013 --
Regular premium sales sustain growth momentum

The industry achieved a total of $1,608.1 million in weighted* new business premiums for the first nine months of 2012, representing a 10 per cent improvement over the corresponding period in 2011.

The overall performance was driven by the positive quarter-to-quarter growth in the sales of regular premium products. The first three quarters hit $1,160.8 million, registering a 20 per cent growth over the same period last year....

-- Published 06 November 2012 --