Industry Performance

Sustained growth bolsters performance by 22 per cent

The life insurance industry ended 2011 with a respectable growth of 22 per cent over the previous year. Four consecutive quarters of gains enabled the life insurance industry to achieve $2,007.4 million of weighted* new business premiums for the year 2011, up from $1,651.3 million.

During the fourth quarter itself, the overall growth of new business slowed down slightly.  While annual premium products (plans with...

-- Published 13 February 2012 --
Growth tempered by cautious market sentiment

Following a 38 per cent growth in sales for the first half of this year compared to the same period in 2010, the life insurance sector saw new business increasing at a more moderate pace, registering 18 per cent in the third quarter of 2011 compared to the corresponding period last year.  During the period under review, the industry registered a total of $523 million in weighted* new business premiums.

The performance was...

-- Published 08 November 2011 --
Sales in bancassurance drives growth

Following positive sales in the first quarter of this year, the life insurance sector saw growth momentum continue into its second quarter. The industry registered a total of $941.5 million in weighted* new business premiums for the first half of 2011, representing a significant 38 per cent improvement over the corresponding period in 2010.

The strong performance was driven by growth of bancassurance of 100 per cent year-on-...

-- Published 04 August 2011 --
45 per cent growth spurred by robust sales across all products

Straight from closing the previous year on a high note, the life insurance industry continued the uptrend in similar fashion into the first quarter of 2011.  It recorded a total of $460.0 million in weighted* new business premiums, which represented an impressive 45 per cent increase over the corresponding quarter in 2010.
 
The strong performance was boosted by robust sales across all products. Weighted regular premiums sales reached $294.0...

-- Published 05 May 2011 --
Four straight quarters in 2010 boost performance by 16 per cent

With a strong fourth quarter showing, the life insurance industry ended the year on a high note, recording a robust 16 per cent growth over the previous year. The four consecutive quarters of positive gains enabled the life insurance industry to pull in a total of $1,651.3 million of weighted* new business premiums for the year of 2010, up from $1,427 million.  
 
The performance was boosted by strong annual premium sales, which reached...

-- Published 09 February 2011 --
Consecutive quarter-on-quarter increases augur well for 2010

The life insurance industry pulled in a strong performance in the first nine months of 2010, sustained by robust economic and market conditions. Sales were 17 per cent higher compared to the same period last year. Total weighted* new business premiums registered at $1,125.6 million, up from $963 million.

Mr Tan Hak Leh, President of the Life Insurance Association of Singapore (LIA), noted that this was the third...

-- Published 04 November 2010 --
LIA is optimistic momentum will continue for the rest of the year

The life insurance industry experienced a 28 per cent sales boost in the first half of 2010 with total weighted* new business premiums at $671 million, up from $524 million in the corresponding period in 2009.

Backed by strong economic conditions and positive market sentiments, sales were robust for all products.  Regular premiums sales reached $518 million, registering a 26 per cent growth over the figures achieved for...

-- Published 05 August 2010 --
Across the board sales boost performance

The life insurance industry started the year on a high note. The first quarter recorded a total of $315 million in weighted* new business premiums, representing an impressive 43 per cent increase over the corresponding quarter in 2009.

The strong performance was boosted by robust sales across all products. Regular premiums sales reached $244 million, registering a 40 per cent growth over the figures achieved for the same period in 2009. Single premium sales soared to $1.01 billion in...

-- Published 06 May 2010 --
Singapore life insurance industry poised for further recovery

The upturn in business continued into the fourth quarter, making it three consecutive quarters of positive gains. The life insurance industry achieved $449 million of total weighted* new business premiums during the fourth quarter of 2009, representing a 6 per cent increase over the preceding quarter.

Annual premium sales made a strong contribution of $303 million, up by 10 per cent compared to the previous quarter of $274 million. Single premium sales fell slightly...

-- Published 12 February 2010 --

 Continuing the upturn in business from the last quarter, the life insurance industry achieved $426 million of total weighted* new business premiums during the third quarter of 2009, representing a 40 per cent increase over the preceding quarter (Q2 2009) and an increase of 94 per cent over Q1 2009.

The positive showing was due to single premium sales earned in the third quarter of 2009 amounting to $1.85 billion.

Mr Darren Thomson, President of the Life...

-- Published 12 November 2009 --