Presence of Foreign Insurers Uplifting Singapore Reinsurance Sector: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Ken research announced its recent publication on “Reinsurance in Singapore, Key Trends and Opportunities to 2020” .The report provides a comprehensive analysis on the reinsurance market of Singapore. It delineates about the competitive landscape in the country, gives a thorough overview of the Singaporean economy and demographic. It further provides detailed analysis of natural hazards and their impact on the Singaporean insurance industry. The strength of this economy lies in its stable political and sound economic system. The nation is known for its excellent business environment and banking sector. Singapore has emerged as a high income country that is major trading regional and global hub for financial and trading services. Thus, this nation has become one of the very few nation ,which has current account surplus, ample foreign reserves and very low public external debt. However, on the other hand Singapore is highly dependent on exports, has a quite volatile. Singapore has the most open insurance sector in the world and is fully open to foreign insurers. The MAS (monetary authority of Singapore) regulate the insurance market. This industry is currently in its boom phase as the investment and returns have been growing leaps and bounds. The introduction of FAIR ( Financial Advisory Industry Review) which has brought more transparency in production and sales . The MAS has also recommended direct purchasing of the insurance product to combat rising operating cost and help to attract and retain talent. This move has drawn some flak from people citing that the nation is not ready for such a thing as yet but many insurance companies has supported this thought. The insurers are licensed and governed under the Insurance Act (Cap. 142) (“IA”).Insurers can carry their business in Singapore as licensed insurers or foreign insurers. Licensed insurers can carry on direct life and/or general business, life and/or general reinsurance business or captive insurance. Foreign insurers operate in Singapore under a foreign insurer scheme established under Part IIA of the act There are two foreign insurer designs- The Lloyd’s Scheme and the Lloyd’s Asia Scheme. Singapore is known as the reinsurance hub. Among the top 25 reinsurance companies in the world, 16 have their regional hub Singapore . with the increase in the natural catastrophes around the Asia- pacific region and Oceania, are forcing the insurance companies to share their revenues with the reinsurance companies. This has emerged as one the major reasons for the increase in the business in the reinsurance companies situated in Singapore. The multinational companies rule this market. Authorized reinsurers and Approved Marine, Aviation and Transit (“MAT”) insurers do not need to have a physical presence in Singapore. Such reinsurers can carry on the business of providing the reinsurance of liabilities under insurance policies in Singapore. They further may be authorised as general reinsurers and/or life reinsurers. MAT insurers do not write insurance business, other than the collection or receipt of premiums in relation to MAT insurance business. Topics Covered in the Report Global insurance industry research Singapore Insurance Sector Singapore Life Insurance Market Singapore Non Life Insurance Market Singapore Re- Insurance Industry Future Singapore Reinsurance Industry Trends Singapore reinsurance Sector Regulations Singapore reinsurance gross Written Premium Global Reinsurance Industry Singapore Reinsurance Sector Reinsurance Market Research Singapore Singapore Reinsurance Sector Major players Singapore Reinsurance Industry size Singapore Reinsurance Industry growth Singapore Reinsurance Industry future Singapore Reinsurance Industry analysis For more coverage click on the link below https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/reinsurance-singapore/74586-93.html Related links https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/non-life-insurance-singapore/74584-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/personal-accident-health-insurance-singapore/74585-93.html https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/life-insurance-singapore/80113-93.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 www.kenresearch.com Tags: Global insurance industry research, Global Reinsurance Industry, Reinsurance Market Research Singapore, Singapore Insurance Sector, Singapore Life Insurance Market, Singapore Non Life Insurance Market, Singapore Re-Insurance Industry Future, Singapore reinsurance gross Written Premium, Singapore Reinsurance Industry analysis, Singapore Reinsurance Industry future, Singapore Reinsurance Industry growth, Singapore Reinsurance Industry Report, Singapore Reinsurance Industry size, Singapore Reinsurance Industry Trends, Singapore Reinsurance Sector, Singapore Reinsurance Sector Major players, Singapore reinsurance Sector Regulations