New Report Available: Singapore Insurance Report Q4 2015

Singapore's Central Provident Fund (CPF) is a key institution that promotes organised savings in a country with a high savings rate. In other countries, the retirement income solutions that are delivered by the CPF might come from the life insurance sector. However, life insurance premiums and density should continue to rise - from already high levels - thanks to official initiatives to promote the segment and innovation by the insurers themselves. The ageing of the population also augurs well for the likely development of health insurance, both through the forecast period and beyond. The general growth of the ASEAN economies, and the boost to trade through the regional Free Trade Area, provide opportunities for non-life (re)insurers in offshore non-life insurance.

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The excellent business environment of Singapore means that the city state must be considered as a globally significant insurance centre. The insurance sector has three separate segments. The least important of these is the local market for non-life insurance. Competitive conditions vary from sub-sector to sub-sector, but all are characterised by product innovation and/or competition on the basis of service. Health insurance is growing rapidly, thanks mainly to the ageing of the population of the city state. The second part of the market is a substantial, and fairly rapidly growing, offshore insurance element of the non-life segment. Both direct insurers and reinsurers book property and other covers for risks in the ASEAN countries through their operations in Singapore. The third element is the dynamic life insurance segment, which complements the Central Provident Fund - the key social security institution.

The Singapore Insurance Report has been researched at source and features BMI Research'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.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for Singapore to test other views - a key input for successful budgeting and strategic business planning in Singapore's insurance market.
* Target business opportunities and risks in Singapore through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
* Exploit latest competitive intelligence

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