Life Insurance in Singapore industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The market is segmented into Life Insurance and Pension/Annuity.
- The Singaporean life insurance market had total gross written premiums of $35.3 billion in 2022, representing a compound annual growth rate (CAGR) of 10.5% between 2017 and 2022.
- The life insurance segment accounted for the market's largest proportion in 2022, with total gross written premiums of $30.1 billion, equivalent to 85.1% of the market's overall value.
- Life insurance coverage in the Singapore population is relatively high. According to in-house research, in 2022, life insurance penetration (ratio of premiums to GDP) in Singapore was 11%.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Singapore
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Singapore
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Singapore life insurance market with five year forecasts
Reasons to Buy
- What was the size of the Singapore life insurance market by value in 2022?
- What will be the size of the Singapore life insurance market in 2027?
- What factors are affecting the strength of competition in the Singapore life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Singapore's life insurance market?
Table of Contents
1 Executive Summary
2 Market Overview
3 Market Data
4 Market Segmentation
5 Market Outlook
6 Five Forces Analysis
7 Competitive Landscape
8 Company Profiles
9 Macroeconomic Indicators
10 Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AIA Group Ltd
- Manulife (Singapore) Pte Ltd
- Prudential Plc
- The Great Eastern Life Assurance Company Ltd
