"Singapore Insurance Report Q1 2015" Published

From: Fast Market Research, Inc.
Published: Mon Dec 29 2014

The most recent results from the leading players in Singapore's life and non-life insurance segments confirm that gross written premiums have been, and will continue to grow at high single-digit rates through our 2015-2018 forecast period. The country's insurance sector is expansive, dynamic and well-developed. Notably within the non-life segment, significant opportunities will arise from changes in the country's demographic structure. More specifically, an ageing population and consequently growing healthcare expenditures are expected to boost rapid growth within the insurance sector in the foreseeable future.

Singapore has a very well developed insurance sector, both in the life and non life segments, and is also expected to experience considerable future growth in written premiums at high single-digit rates; these are strong developments by most metrics. We believe a number of key factors will make a significant contribution to the ongoing growth of the country's insurance sector in the years to come.

Full Report Details at
- http://www.fastmr.com/prod/938451_singapore_insurance_report_q1_2015.aspx?afid=301

First and foremost, Singapore has a strong economy which is expected to continue to strengthen in the foreseeable future; moreover, the country has low levels of unemployment, as well as growing disposable income, which bring forth increasing demand for life and non-life products in the coming years. Furthermore, the dynamism of the country's life insurance segment, which has much in common with its counterpart in Hong Kong, should for a large - though not the predominant part - drive the growth of the overall insurance sector. Life insurance premiums continue to grow strongly due to 'demand-related' and 'supply-related' factors. As such, high income levels, substantial savings rates, widespread understanding of the benefits of life insurance, as well as low interest rates from bank deposits, ensure that the demand for life insurance products will persist to flourish in the future.

In addition, with the substantial portion of offshore insurance...

The Singapore Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Singapore Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Singaporean insurance industry.

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For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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