Singapore Insurance Report Q2 2012
Now Available: Singapore Insurance Report Q2 2012
02.06.2012 07:02:51 - Fast Market Research recommends "Singapore Insurance Report Q2 2012" from Business Monitor International, now available
(live-PR.com) - Key Insights And Key Risks
In world terms, Singapore ranks as a medium-sized market for (re)insurance that, in spite of being well developed by most metrics, will likely to grow quite rapidly through the forecast period. There are essentially three components to the sector. The first is a mature domestic non-life business - the Singapore insurance funds - in which premiums
are growing at single digit rates. The second is a rapidly developing offshore non-life (re)insurance business. The non-life (re)insurers who are operating in/through Singapore are significant beneficiaries of the overall economic growth of South East Asia. The third is the dynamic life insurance segment, which has much in common with its counterpart in Hong Kong.
------------------------------------------------------------
Full Report Details at
- www.fastmr.com/prod/385031_singapore_insurance_r ..
------------------------------------------------------------
In both city-states, life insurance premiums continue to grow strongly thanks to 'demand-related' and 'supply-related' factors. High income levels, high savings rates, widespread understanding of the benefits of life insurance and low interest rates from bank deposits ensure that households' demand for life insurance products continues to flourish. The importance of both Hong Kong and Singapore as regional business centres also underpins demand for group life products. Supply comes mainly from the local subsidiaries of world-class multi-national insurance companies. In both cases, the leading player is the subsidiary of a leading local commercial bank - HSBC Insurance in the case of Hong Kong and OCBC's Great Eastern in the case of Singapore. However, although both HSBC Insurance and Great Eastern would rank as extremely substantial life insurers in any market, they do not exercise crushing domination of their respective life segments. There remains the opportunity for other life companies to develop businesses through the introduction of innovative new products and/or focused distribution strategies.
The life insurance companies that have commented on their results in 2011 have indicated that there have been a number of growth drivers. Bancassurance is expanding very rapidly. Many of the insurers are enlarging their agency forces - or taking steps to boost agent productivity. Some of the players are introducing innovative new products. Group life products have been becoming more popular. Three months ago, we noted that the main challenge appeared to be volatility in global financial markets - a factor over which the life insurance companies have little control. Since then, though, stock markets have generally performed well as investors' appetite for risk has returned.
The development of the non-life segment will depend partially on consumer confidence and partially on the desire of corporate planners at multinational companies to move operations to Singapore, in order to take advantage of the excellent business environment. Global reinsurers already dominate the offshore insurance funds of the non-life segment.
Partial Table of Contents:
Executive Summary
- Table: Total Premiums, 2008-2016
- Key Insights And Key Risks
SWOT Analysis
- Singapore Insurance Industry SWOT
- Singapore Political SWOT
- Singapore Economic SWOT
- Singapore Business Environment SWOT
Life Sector
- Asia Pacific Life Sector Overview
- Table: Asia Pacific Life Premiums, 2008-2016 (US$mn)
- Singapore Life Sector Update
- Table: Distribution Of Individual Business In Force, Q111
- Life Industry Forecast Scenario
- Table: Total Life Premiums, 2008-2016
- Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics, 2008-2016
Non-Life Sector
- Asia Pacific Non-Life Sector Overview
- Table: Asia Pacific Non-Life Premiums, 2008-2016
- Singapore Non-Life Sector Update
- Table: Principal Non-Life Lines, Gross Written Premiums, Q111
- Non-Life Industry Forecast Scenario
- Table: Total Non-Life Premiums, 2008-2016
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Singapore Economic Activity, 2011-2016
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Healthcare
- Healthcare Insurance
- Epidemiology
- Table: Insurance Key Drivers, Disability-Adjusted Life Years, 2008-2016
- Motor
- Table: Insurance Key Drivers, Vehicle Sales, 2008-2016
- Islamic Finance
Insurance Risk/Reward Ratings
- Table: Singapore's Insurance Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
Competitive Landscape
- Competitive Landscape Analysis
- Major Players In Singapore's Insurance Sector
- Table: Largest Life Companies, 2010
- Table: Largest Non-Life Companies By Gross Written Premiums, 2010
- Table: Largest Reinsurance Companies By Gross Written Premiums, 2010
- Table: Offshore Insurance Funds, 2010
Company Profiles
- Local Company Profiles
- Great Eastern
- NTUC Income
- Regional Company Profiles
- Ageas
- AEGON
- AIA Group Limited
- Allianz
- Aviva
- AXA
- BNP Paribas Cardif
- Chartis
- HSBC Insurance
- ING Group
- Liberty Mutual
- Manulife
- MetLife ALICO
- Prudential Financial
- Prudential plc
- QBE
-
Full Table of Contents is available at:
-- www.fastmr.com/catalog/product.aspx?productid=38 ..
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=101 ..
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.
In world terms, Singapore ranks as a medium-sized market for (re)insurance that, in spite of being well developed by most metrics, will likely to grow quite rapidly through the forecast period. There are essentially three components to the sector. The first is a mature domestic non-life business - the Singapore insurance funds - in which premiums
|
|
------------------------------------------------------------
Full Report Details at
- www.fastmr.com/prod/385031_singapore_insurance_r ..
------------------------------------------------------------
In both city-states, life insurance premiums continue to grow strongly thanks to 'demand-related' and 'supply-related' factors. High income levels, high savings rates, widespread understanding of the benefits of life insurance and low interest rates from bank deposits ensure that households' demand for life insurance products continues to flourish. The importance of both Hong Kong and Singapore as regional business centres also underpins demand for group life products. Supply comes mainly from the local subsidiaries of world-class multi-national insurance companies. In both cases, the leading player is the subsidiary of a leading local commercial bank - HSBC Insurance in the case of Hong Kong and OCBC's Great Eastern in the case of Singapore. However, although both HSBC Insurance and Great Eastern would rank as extremely substantial life insurers in any market, they do not exercise crushing domination of their respective life segments. There remains the opportunity for other life companies to develop businesses through the introduction of innovative new products and/or focused distribution strategies.
The life insurance companies that have commented on their results in 2011 have indicated that there have been a number of growth drivers. Bancassurance is expanding very rapidly. Many of the insurers are enlarging their agency forces - or taking steps to boost agent productivity. Some of the players are introducing innovative new products. Group life products have been becoming more popular. Three months ago, we noted that the main challenge appeared to be volatility in global financial markets - a factor over which the life insurance companies have little control. Since then, though, stock markets have generally performed well as investors' appetite for risk has returned.
The development of the non-life segment will depend partially on consumer confidence and partially on the desire of corporate planners at multinational companies to move operations to Singapore, in order to take advantage of the excellent business environment. Global reinsurers already dominate the offshore insurance funds of the non-life segment.
Partial Table of Contents:
Executive Summary
- Table: Total Premiums, 2008-2016
- Key Insights And Key Risks
SWOT Analysis
- Singapore Insurance Industry SWOT
- Singapore Political SWOT
- Singapore Economic SWOT
- Singapore Business Environment SWOT
Life Sector
- Asia Pacific Life Sector Overview
- Table: Asia Pacific Life Premiums, 2008-2016 (US$mn)
- Singapore Life Sector Update
- Table: Distribution Of Individual Business In Force, Q111
- Life Industry Forecast Scenario
- Table: Total Life Premiums, 2008-2016
- Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics, 2008-2016
Non-Life Sector
- Asia Pacific Non-Life Sector Overview
- Table: Asia Pacific Non-Life Premiums, 2008-2016
- Singapore Non-Life Sector Update
- Table: Principal Non-Life Lines, Gross Written Premiums, Q111
- Non-Life Industry Forecast Scenario
- Table: Total Non-Life Premiums, 2008-2016
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Singapore Economic Activity, 2011-2016
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Healthcare
- Healthcare Insurance
- Epidemiology
- Table: Insurance Key Drivers, Disability-Adjusted Life Years, 2008-2016
- Motor
- Table: Insurance Key Drivers, Vehicle Sales, 2008-2016
- Islamic Finance
Insurance Risk/Reward Ratings
- Table: Singapore's Insurance Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
Competitive Landscape
- Competitive Landscape Analysis
- Major Players In Singapore's Insurance Sector
- Table: Largest Life Companies, 2010
- Table: Largest Non-Life Companies By Gross Written Premiums, 2010
- Table: Largest Reinsurance Companies By Gross Written Premiums, 2010
- Table: Offshore Insurance Funds, 2010
Company Profiles
- Local Company Profiles
- Great Eastern
- NTUC Income
- Regional Company Profiles
- Ageas
- AEGON
- AIA Group Limited
- Allianz
- Aviva
- AXA
- BNP Paribas Cardif
- Chartis
- HSBC Insurance
- ING Group
- Liberty Mutual
- Manulife
- MetLife ALICO
- Prudential Financial
- Prudential plc
- QBE
-
Full Table of Contents is available at:
-- www.fastmr.com/catalog/product.aspx?productid=38 ..
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=101 ..
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.
| Author: |
