Non-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
- Non-life insurance is typically defined as any insurance not determined to be life insurance. It includes automobile and homeowners' policies and provides payments depending on the loss from a particular financial event.
- The Singaporean non-life insurance market had total gross written premiums of $3.8 billion in 2022, representing a compound annual growth rate (CAGR) of 5.6% between 2017 and 2022.
- The motor segment accounted for the market's largest proportion in 2022, with total gross written premiums of $0.8 billion, equivalent to 20.6% of the market's overall value.
- In 2022, the Singaporean non-life insurance market witnessed an annual growth of 10.1% due to the expansion of the distribution network. According to the Monetary Authority of Singapore (MAS), the broker network across the country reached 148 in 2023 as compared to 70 in 2013.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Singapore
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Singapore
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Singapore non-life insurance market with five year forecasts
Reasons to Buy
- What was the size of the Singapore non-life insurance market by value in 2022?
- What will be the size of the Singapore non-life insurance market in 2027?
- What factors are affecting the strength of competition in the Singapore non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Singapore's non-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:
- AIG Asia Pacific Insurance Pte. Ltd.
- AXA SA
- NTUC Income Insurance Co-operative Limited
- MS First Capital Insurance Ltd
