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Life Insurance in Singapore

  • January 2016
  • -
  • MarketLine
  • -
  • 35 pages

Introduction

Life Insurance in Singapore industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2011-15, and forecast to 2020). 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.

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 2014 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 is expected to generate total gross written premiums of $15.7bn in 2015, representing a compound annual growth rate (CAGR) of 8.8% between 2011 and 2015.

- The life insurance segment is expected to be the market's most lucrative in 2015, with total gross written premiums of $15.3bn, equivalent to 97.6% of the market's overall value.

- Growth in this market recently has largely been driven by an abundance of new product launches and an increase in the uptake of savings-orientated products through bancassurance.

Features

- 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

- Macroeconomic indicators provide insight into general trends within the Singapore economy

Key Questions Answered

- What was the size of the Singapore life insurance market by value in 2015?

- What will be the size of the Singapore life insurance market in 2020?

- 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?

Table Of Contents

Life Insurance in Singapore
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 8
Market value 8
Market Segmentation 9
Category segmentation 9
Geography segmentation 10
Market share 11
Market Outlook 12
Market value forecast 12
Five Forces Analysis 13
Summary 13
Buyer power 14
Supplier power 15
New entrants 16
Threat of substitutes 17
Degree of rivalry 18
Leading Companies 19
AIA Group Limited 19
Great Eastern Holdings Limited 22
NTUC Income Insurance Co-Operative Limited 25
Prudential Financial, Inc. 26
Macroeconomic Indicators 30
Country Data 30
Methodology 32
Industry associations 33
Related MarketLine research 33
Appendix 34
About MarketLine 34

List of Tables
Table 1: Singapore life insurance market value: $ billion, 2011-15(e)
Table 2: Singapore life insurance market category segmentation: $ billion, 2015(e)
Table 3: Singapore life insurance market geography segmentation: $ billion, 2015(e)
Table 4: Singapore life insurance market share: % share, by value, 2015(e)
Table 5: Singapore life insurance market value forecast: $ billion, 2015-20
Table 6: AIA Group Limited: key facts
Table 7: AIA Group Limited: key financials ($)
Table 8: AIA Group Limited: key financial ratios
Table 9: Great Eastern Holdings Limited: key facts
Table 10: Great Eastern Holdings Limited: key financials ($)
Table 11: Great Eastern Holdings Limited: key financials (Si$)
Table 12: Great Eastern Holdings Limited: key financial ratios
Table 13: NTUC Income Insurance Co-Operative Limited: key facts
Table 14: Prudential Financial, Inc.: key facts
Table 15: Prudential Financial, Inc.: key financials ($)
Table 16: Prudential Financial, Inc.: key financial ratios
Table 17: Singapore size of population (million), 2011-15
Table 18: Singapore gdp (constant 2005 prices, $ billion), 2011-15
Table 19: Singapore gdp (current prices, $ billion), 2011-15
Table 20: Singapore inflation, 2011-15
Table 21: Singapore consumer price index (absolute), 2011-15
Table 22: Singapore exchange rate, 2011-15

List of Figures
Figure 1: Singapore life insurance market value: $ billion, 2011-15(e)
Figure 2: Singapore life insurance market category segmentation: % share, by value, 2015(e)
Figure 3: Singapore life insurance market geography segmentation: % share, by value, 2015(e)
Figure 4: Singapore life insurance market share: % share, by value, 2015(e)
Figure 5: Singapore life insurance market value forecast: $ billion, 2015-20
Figure 6: Forces driving competition in the life insurance market in Singapore, 2015
Figure 7: Drivers of buyer power in the life insurance market in Singapore, 2015
Figure 8: Drivers of supplier power in the life insurance market in Singapore, 2015
Figure 9: Factors influencing the likelihood of new entrants in the life insurance market in Singapore, 2015
Figure 10: Factors influencing the threat of substitutes in the life insurance market in Singapore, 2015
Figure 11: Drivers of degree of rivalry in the life insurance market in Singapore, 2015
Figure 12: AIA Group Limited: revenues and profitability
Figure 13: AIA Group Limited: assets and liabilities
Figure 14: Great Eastern Holdings Limited: revenues and profitability
Figure 15: Great Eastern Holdings Limited: assets and liabilities
Figure 16: Prudential Financial, Inc.: revenues and profitability
Figure 17: Prudential Financial, Inc.: assets and liabilities

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