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Insurance in Singapore

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Details

Insurance in Singapore

Summary

Insurance in Singapore industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2013-17, and forecast to 2022). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Essential resource for top-line data and analysis covering the Singapore insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Key Highlights

- The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes.

- The Singaporean insurance market had total gross written premiums of USD 33.8bn in 2017, representing a compound annual growth rate (CAGR) of 11.4% between 2013 and 2017.

- The life segment was the market's most lucrative in 2017, with total gross written premiums of USD 21.5bn, equivalent to 63.7% of the market's overall value.

- Positive macroeconomic conditions have assisted the growth of the life insurance market in Singapore. The annualized change in the real income of Singaporeans between 2012 and 2017 was 2.9% per annum. The moderate growth in income will boost disposable income and make it easier for Singaporeans to invest in financial products such as insurance. The country also has a high penetration rate at 8.2% of GDP in 2017, according to Swiss Re.

Scope

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Singapore

- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Singapore

- Leading company profiles reveal details of key insurance market players' global operations and financial performance

- Add weight to presentations and pitches by understanding the future growth prospects of the Singapore insurance market with five year forecasts

Reasons to buy

- What was the size of the Singapore insurance market by value in 2017?

- What will be the size of the Singapore insurance market in 2022?

- What factors are affecting the strength of competition in the Singapore insurance market?

- How has the market performed over the last five years?

- Who are the top competitiors in Singapore's insurance market?

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Table Of Content

Scope

Table of Contents

Executive Summary 2

Market value 2

Market value forecast 2

Category segmentation 2

Geography segmentation 2

Market share 2

Market rivalry 2

Market Overview 7

Market definition 7

Market analysis 7

Market Data 9

Market value 9

Market Segmentation 10

Category segmentation 10

Geography segmentation 11

Market share 12

Market Outlook 13

Market value forecast 13

Five Forces Analysis 14

Summary 14

Buyer power 15

Supplier power 17

New entrants 19

Threat of substitutes 21

Degree of rivalry 22

Leading Companies 24

AIA Singapore Pvt Ltd 24

Great Eastern Holdings Limited 25

Manulife Financial Corporation 28

Prudential Plc 32

Macroeconomic Indicators 36

Country data 36

Methodology 38

Industry associations 39

Related MarketLine research 39

Appendix 40

About MarketLine 40


List Of Figure

List of Tables

Table 1: Singapore insurance market value: USD billion, 2013-17

Table 2: Singapore insurance market category segmentation: USD billion, 2017

Table 3: Singapore insurance market geography segmentation: USD billion, 2017

Table 4: Singapore insurance market share: % share, by value, 2017

Table 5: Singapore insurance market value forecast: USD billion, 2017-22

Table 6: AIA Singapore Pvt Ltd: key facts

Table 7: Great Eastern Holdings Limited: key facts

Table 8: Great Eastern Holdings Limited: key financials (USD )

Table 9: Great Eastern Holdings Limited: key financials (SiUSD )

Table 10: Great Eastern Holdings Limited: key financial ratios

Table 11: Manulife Financial Corporation: key facts

Table 12: Manulife Financial Corporation: key financials (USD )

Table 13: Manulife Financial Corporation: key financials (CUSD )

Table 14: Manulife Financial Corporation: key financial ratios

Table 15: Prudential Plc: key facts

Table 16: Prudential Plc: key financials (USD )

Table 17: Prudential Plc: key financials (GBP)

Table 18: Prudential Plc: key financial ratios

Table 19: Singapore size of population (million), 2013-17

Table 20: Singapore gdp (constant 2005 prices, USD billion), 2013-17

Table 21: Singapore gdp (current prices, USD billion), 2013-17

Table 22: Singapore inflation, 2013-17

Table 23: Singapore consumer price index (absolute), 2013-17

Table 24: Singapore exchange rate, 2013-17


List Of Table

List of Figures

Figure 1: Singapore insurance market value: USD billion, 2013-17

Figure 2: Singapore insurance market category segmentation: % share, by value, 2017

Figure 3: Singapore insurance market geography segmentation: % share, by value, 2017

Figure 4: Singapore insurance market share: % share, by value, 2017

Figure 5: Singapore insurance market value forecast: USD billion, 2017-22

Figure 6: Forces driving competition in the insurance market in Singapore, 2017

Figure 7: Drivers of buyer power in the insurance market in Singapore, 2017

Figure 8: Drivers of supplier power in the insurance market in Singapore, 2017

Figure 9: Factors influencing the likelihood of new entrants in the insurance market in Singapore, 2017

Figure 10: Factors influencing the threat of substitutes in the insurance market in Singapore, 2017

Figure 11: Drivers of degree of rivalry in the insurance market in Singapore, 2017

Figure 12: Great Eastern Holdings Limited: revenues & profitability

Figure 13: Great Eastern Holdings Limited: assets & liabilities

Figure 14: Manulife Financial Corporation: revenues & profitability

Figure 15: Manulife Financial Corporation: assets & liabilities

Figure 16: Prudential Plc: revenues & profitability

Figure 17: Prudential Plc: assets & liabilities

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Products and Companies

Products

Financial Services, Insurance, MarketLine, Singapore


Companies

AIA Singapore Pvt Ltd

Great Eastern Holdings Limited

Manulife Financial Corporation

Prudential Plc