Industry Performance

Business up by 31% for the first nine months of 2007; industry’s assets surpass $100 billion for first time

The life insurance industry put in a sterling performance in the first nine months of 2007, sustained by a robust economy and a buoyant stock market. On a weighted basis*, new business premiums amounted to $1.18 billon, representing a strong 31 per cent increase over the corresponding period in 2006.

The industry benefited from strong sales in both single premium and regular premium businesses. The third quarter saw single premium sales soar to $1.99 billion, with regular premium...

-- Published 06 November 2007 --

The life insurance industry performed well during the first half of 2007, recording a total of $767 million of new business premiums* on a weighted basis. This figure represents a strong 33 per cent increase over the corresponding period in 2006, reported the Life Insurance Association (LIA) of Singapore.

This outcome was a result of healthy sales from both the single premium and the regular premium business, particularly for the second quarter of 2007. In the second...

-- Published 07 August 2007 --
Regular and single premium sales boost performance

Total weighted new business premiums* in the first three months of 2007 reached $332 million, recording a healthy 23 per cent increase over the corresponding quarter in 2006.

This growth was largely due to regular premium sales which reached $160 million - registering an improvement of 27 per cent over the figures achieved in the corresponding quarter in 2006.

The performance was further boosted by continued strong single premium sales. Single premium sales reached $1,790...

-- Published 08 May 2007 --
Quality of advice to consumers continues to improve

The life insurance industry’s total weighted new business premiums* reached $1,278 million in 2006, recording a robust 20 per cent growth over the previous year. This does not include premiums from the two privatized CPF schemes – Medishield Plus and Dependants Protection Scheme (DPS) – which, when taken into account, would amount to $1,309 million.

Excluding Medishield Plus and DPS

The growth was principally due to an increase...

-- Published 09 February 2007 --

In the first nine months of 2006, total new business premiums (weighted*) recorded a 5 per cent growth to reach $932 million, up from $889 million achieved during the corresponding period last year.

On a quarter to quarter basis, the third quarter’s results improved by 4 per cent, compared to the last quarter.

The growth was principally due to a continued increase in single premium sales for the first nine months of 2006. In absolute terms, single premium business recorded $4,...

-- Published 10 November 2006 --

The life insurance industry recorded a 31 per cent growth for the first half of 2006. Total weighted new business premiums were $608 million, up from $465 million achieved in the corresponding period in 2005. On a quarter to quarter basis, the second quarter’s results (on weighted basis) improved by 4 per cent, compared to the first quarter of 2006.

The healthy growth was principally due to strong single premium sales during the first six months of 2006. In absolute terms, single...

-- Published 07 August 2006 --

Total weighted new business premiums* in the first three months of 2006 were $299 million, 38 per cent higher than recorded in the corresponding quarter in 2005.

This growth is due to single premium sales which reached $1,734 million – the highest figure recorded for any quarter since the third quarter of 2004. Figures for the quarter have been boosted by the inclusion of premiums due to bonus sum assured declared by the Central Provident Fund Board under the privatized Dependants’...

-- Published 04 May 2006 --

Total weighted new business premiums* registered a significant increase of 19 percent to S$1,284 million in 2005 from S$1,076 million achieved in 2004.

Sales of single premium business reached S$1,635.2 million in Q4 of 2005 -19 percent more than in the corresponding figure for Q4 of 2004. The CPF sector accounted for 58 percent ($955 million) of single premium sales.

Over the same period regular premium sales amounted S$208.5 million, registering a remarkable increase of 43...

-- Published 02 February 2006 --
Industry buoyed by growth in single and regular premium businesses

Total weighted new business premiums* registered a significant increase of 68 per cent to S$424 million in the third quarter of 2005, compared with the previous quarter. It also compared favourably with the corresponding quarter in 2004, marking a 39 per cent growth.

Measured in terms of total business premiums, sales of single premium business recorded a 49 per cent increase over the corresponding figure for the second quarter of 2005. Regular premium sales were 77 per cent higher...

-- Published 15 November 2005 --
Industry buoyed by growth in single and regular premium businesses

Total weighted new business premiums* registered an increase of 17 per cent to S$252 million in the second quarter of 2005 compared with the previous quarter and 11 per cent growth compared to Q2 2004. This was principally due to a strong growth in sales of single premium business which recorded a 29 per cent increase over the corresponding figure for the first quarter of 2005. The overall growth in production was further boosted by buoyant sales of regular premium business. Regular premium...

-- Published 04 August 2005 --