Singapore Insurance Report - Business Monitor International - Industry Reports

Singapore Insurance Report

Singapore Insurance Report - Business Monitor International - Industry Reports
Singapore Insurance Report
Published Sep 03, 2016
55 pages — Published Sep 03, 2016
Price US$ 1,295.00  |  Buy this Report Now

About This Report

  
Abstract:

In Q---, we have not changed our projections for life premiums. Premiums should grow steadily through the forecast period thanks to innovation (in terms of product development and distribution) by the insurance companies - in a country where life insurance plays a central role in the organised savings landscape. ...In Q---, we have not changed our projections for life premiums. Premiums should grow steadily through the forecast period thanks to innovation (in terms of product development and distribution) by the insurance companies - in a country where life insurance plays a central role in the organised savings landscape. Nevertheless, the market remains very competitive. ...Official promotion and higher prices is boosting motor vehicle insurance. Property insurance and some other domestic sub-sectors are being constrained by downwards pressure on prices.

...As one would expect in a city-state with one of the world s highest standards of living, life expectancy is already extremely high in Singapore - at (well) over -- years for both men and women. For now, we think that life expectancy is at a natural ceiling - and is unlikely to rise further through the forecast period. ...This is expected to grow from just over ---,--- in ---- to ---,--- at the end of the forecast period. The rise in the number of older people (including those who are not quite --) is central to our expectation that health insurance will be the fastest growing domestic sub-sector of the non-life segment. Ageing demographics may have implications for the life insurers: in particular, it encourages them to incentivise healthy living, as regional titan AIA is doing with its AIA Vitality product. ...Ageing demographics may have implications for the life insurers: in particular, it encourages them to incentivise healthy living, as regional titan AIA is doing with its AIA Vitality product. Otherwise, the impact of demographics is relatively limited in Singapore: the function of the life insurance segment is to compliment the Central Provident Fund (CPF) system - through the provision of savings (and protection) solutions to customers who are predominantly still of working age and group life products.

...In terms of penetration (premiums as a percentage of GDP), Singapore s life segment is mature. The growth in premiums will be driven by the ongoing, and steady, expansion of the economy. ...

  
Source:
Document ID
1750-5747
Country
Industry
Format:
PDF Adobe Acrobat
Buy Now

Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

About the Author


Cite this Report

  
MLA:
Business Monitor International - Industry Reports. "Singapore Insurance Report" Sep 03, 2016. Alacra Store. Dec 08, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Singapore-Insurance-Report-2026-83>
  
APA:
Business Monitor International - Industry Reports. (2016). Singapore Insurance Report Sep 03, 2016. New York, NY: Alacra Store. Retrieved Dec 08, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Singapore-Insurance-Report-2026-83>
  
US$ 1,295.00
$  £  
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Market Research from one place.