Life Insurance in Singapore
September 2018
38
About the Report
About the Report
Life Insurance in Singapore
Summary
Life 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 life insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
Key Highlights
The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans. All currency conversions have been calculated using constant 2017 annual average exchange rates. The insurance market depends on a variety of economic and non-economic factors and future performance is difficult to predict. The forecast given in this report is not based on a complex economic model, but is intended as a rough guide to the direction in which the market is likely to move.
The Singaporean life insurance market had total gross written premiums of USD 21.5bn in 2017, representing a compound annual growth rate (CAGR) of 15.3% between 2013 and 2017.
The life insurance segment was the market's most lucrative in 2017, with total gross written premiums of USD 19.2bn, equivalent to 89.2% 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 made it easier for Singaporeans to invest in financial products such as insurance.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Singapore
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Singapore
- Leading company profiles reveal details of key life insurance market players' global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Singapore life insurance market with five year forecasts
Reasons to buy
- What was the size of the Singapore life insurance market by value in 2017?
- What will be the size of the Singapore life insurance market in 2022?
- What factors are affecting the strength of competition in the Singapore life insurance market?
- How has the market performed over the last five years?
- Who are the top competitiors in Singapore's life insurance market?
Products
Companies
AIA Singapore Pvt Ltd
Great Eastern Holdings Limited
Manulife Financial Corporation
Prudential Plc
Table of Contents
Table of Contents
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 16
Supplier power 17
New entrants 18
Threat of substitutes 19
Degree of rivalry 20
Leading Companies 21
AIA Singapore Pvt Ltd 21
Great Eastern Holdings Limited 22
Manulife Financial Corporation 25
Prudential Plc 29
Macroeconomic Indicators 33
Country data 33
Methodology 35
Industry associations 36
Related MarketLine research 36
Appendix 37
About MarketLine 37
List of Figure
List of Figures
Figure 1: Singapore life insurance market value: USD billion, 2013-17
Figure 2: Singapore life insurance market category segmentation: % share, by value, 2017
Figure 3: Singapore life insurance market geography segmentation: % share, by value, 2017
Figure 4: Singapore life insurance market share: % share, by value, 2017
Figure 5: Singapore life insurance market value forecast: USD billion, 2017-22
Figure 6: Forces driving competition in the life insurance market in Singapore, 2017
Figure 7: Drivers of buyer power in the life insurance market in Singapore, 2017
Figure 8: Drivers of supplier power in the life insurance market in Singapore, 2017
Figure 9: Factors influencing the likelihood of new entrants in the life insurance market in Singapore, 2017
Figure 10: Factors influencing the threat of substitutes in the life insurance market in Singapore, 2017
Figure 11: Drivers of degree of rivalry in the life 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
List of Table
List of Tables
Table 1: Singapore life insurance market value: USD billion, 2013-17
Table 2: Singapore life insurance market category segmentation: USD billion, 2017
Table 3: Singapore life insurance market geography segmentation: USD billion, 2017
Table 4: Singapore life insurance market share: % share, by value, 2017
Table 5: Singapore life 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
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