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Personal Accident and Health Insurance in Singapore, Key Trends and Opportunities to 2018

Published By :

Timetric

Published Date : Jan 2015

Category :

Health Insurance

No. of Pages : 245 Pages

Synopsis

The report provides in-depth market analysis, information and insights into the Singaporean personal accident and health insurance segment, including:

  • The Singaporean personal accident and health insurance segment’s growth prospects by insurance category
  • Key trends and drivers for the personal accident and health insurance segment
  • The various distribution channels in the Singaporean personal accident and health insurance segment
  • The detailed competitive landscape in the personal accident and health insurance segment in Singapore
  • Detailed regulatory policies of the Singaporean insurance industry
  • Analysis of various consumer segments in Singaporean personal accident and health insurance
  • Key developments in the Singaporean personal accident and health insurance segment
  • New products launched by Singaporean personal accident and health insurers

Executive summary

Singapore’s personal accident and health insurance segment accounted for 11.7% of the industry’s gross written premium in 2013, with a value of SGD3.6 billion (US$2.8 billion). Fueled by economic expansion, a rapidly growing older population, a rise in outbound travelers, and favorable legislation, the segment posted a compound annual growth rate (CAGR) of 14.8% during the review period (2009–2013). These factors – coupled with the nationalization of the medical insurance scheme – are projected to support the segment’s growth over the forecast period (2013–2018). The segment’s gross written premium is expected to increase from SGD3.6 billion (US$2.8 billion) in 2013 to SGD6.1 billion (US$4.8 billion) in 2018, at a forecast-period CAGR of 11.3%.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Singapore:

  • It provides historical values for the Singaporean personal accident and health insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key categories in the Singaporean personal accident and health insurance segment, along with market forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
  • It analyses the various distribution channels for personal accident and health insurance products in Singapore.
  • It profiles the top personal accident and health insurance companies in Singapore and outlines the key regulations affecting them.

Reasons to buy

  • Make strategic business decisions using in-depth historic and forecast market data related to Singaporean personal accident and health insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Singaporean personal accident and health insurance segment.
  • Assess the competitive dynamics in the personal accident and health insurance segment.
  • Identify the growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Singaporean insurance industry and their impact on companies and the industry's future.

Key highlights

  • Fueled by economic expansion, a rapidly growing older population, a rise in outbound travelers, and favorable legislation, the segment posted a compound annual growth rate (CAGR) of 14.8% during the review period.
  • In March 2013, the government amended its existing Medishield healthcare system, and renamed it: MediShield Life. The system aims to provide healthcare facilities to all Singaporeans, with wider coverage and life cover. 
  • Singapore also enacted a number of mandatory laws relating to workers’ protection. 
  • In order to strengthen the standards of risk management among insurers, the Monetary Authority of Singapore (MAS) issued a notice to develop Enterprise Risk Management (ERM) in 2013. 
  • Increasing levels of government healthcare expenditure, coupled with Singapore’s aging population, are likely to drive demand for health insurance over the forecast period.

1 Key Facts and Events

2 Executive Summary

3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology

4 Singaporean Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009–2018

5 Personal accident and health segment Outlook
5.1 Consumer Segmentation
5.2 Key Drivers
5.3 Key Trends
5.4 Challenges
5.5 Personal Accident and Health Insurance Growth Prospects by Category
5.5.1 Personal accident insurance
5.5.2 Travel insurance
5.5.3 Health insurance
5.5.4 Non-life health insurance
5.5.5 Life health insurance

6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 E-Commerce
6.5 Brokers
6.6 Other Channels

7 Governance, Risk and Compliance
7.1 Legislation Overview and Historical Evolution
7.2 Legislation and Market Practice by Type of Insurance
7.2.1 Life insurance
7.2.2 Property insurance
7.2.3 Motor insurance
7.2.4 Liability insurance
7.2.5 Marine, aviation and transit insurance
7.2.6 Personal accident and health insurance
7.3 Compulsory Insurance
7.3.1 Motor vehicle third-party liability insurance
7.3.2 Workmen’s compensation insurance
7.3.3 Government health insurance
7.4 Supervision and Control
7.4.1 International Association of Insurance Supervisors (IAIS)
7.4.2 Monetary Authority of Singapore (MAS)
7.5 Non-Admitted Insurance Regulations
7.5.1 Overview
7.5.2 Intermediaries
7.5.3 Market practices
7.5.4 Fines and penalties
7.6 Company Registration and Operations
7.6.1 Types of insurance organization
7.6.2 Establishing a local company
7.6.3 Foreign ownership
7.6.4 Types of license
7.6.5 Capital requirements
7.6.6 Solvency margins
7.6.7 Reserve requirements
7.6.8 Investment regulations
7.6.9 Statutory return requirements
7.6.10 Fee structure
7.7 Taxation
7.7.1 Insurance premium or policy taxation
7.7.2 Withholding taxes on premium paid overseas
7.7.3 Corporate tax
7.7.4 VAT
7.7.5 Captives
7.8 Legal System
7.8.1 Introduction
7.8.2 Access to court
7.8.3 Alternative dispute resolution (ADR)

8 Competitive Landscape and Strategic Insights
8.1 Overview
8.2 Leading Companies in the Singaporean Personal accident and health segment
8.3 Comparison of the Top Five Insurers
8.3.1 Gross written premium
8.3.2 Gross claims
8.3.3 Incurred loss
8.4 Leading Personal accident and health Insurers – New Product Launches
8.5 Leading Personal Accident and Health Insurers – Key Developments
8.6 AIA Singapore Private Ltd – Company Overview
8.6.1 AIA Singapore Private Ltd – key facts
8.6.2 AIA Singapore Private Ltd – key financials
8.7 NTUC Income Insurance Co-Operative Ltd – Company Overview
8.7.1 NTUC Income Insurance Co-Operative Ltd – key facts
8.7.2 NTUC Income Insurance Co-Operative Ltd – key financials
8.8 Great Eastern Life Assurance Co. Ltd, – Company Overview
8.8.1 Great Eastern Life Assurance Co. Ltd – key facts
8.8.2 Great Eastern Life Assurance Co. Ltd – key financials
8.9 Prudential Assurance Company Singapore (Pte) Ltd – Company Overview
8.9.1 Prudential Assurance Company Singapore (Pte) Ltd – key facts
8.9.2 Prudential Assurance Company Singapore (Pte) Ltd – key financials
8.10 Aviva Ltd – Company Overview
8.10.1 Aviva Ltd – key facts
8.10.2 Aviva Ltd – key financials
8.11 AIG Asia Pacific Insurance Pte Ltd – Company Overview
8.11.1 AIG Asia Pacific Insurance Pte Ltd – key facts
8.11.2 AIG Asia Pacific Insurance Pte Ltd – key financials
8.12 Tokio Marine Life Insurance Singapore Ltd – Company Overview
8.12.1 Tokio Marine Life Insurance Singapore Ltd – key facts
8.12.2 Tokio Marine Life Insurance Singapore Ltd – key financials
8.13 MSIG Insurance (Singapore) Pte Ltd – Company Overview
8.13.1 MSIG Insurance (Singapore) Pte Ltd – key facts
8.13.2 MSIG Insurance (Singapore) Pte Ltd – key financials
8.14 Axa Insurance Singapore Private Ltd – Company Overview
8.14.1 Axa Insurance Singapore Private Ltd – key facts
8.14.2 Axa Insurance Singapore Private Ltd – key financials
8.15 ACE Insurance Ltd – Company Overview
8.15.1 ACE Insurance Ltd – key facts
8.15.2 ACE Insurance Ltd – key financials

9 Appendix –1
9.1 Market Capitalization Trend – Singapore Exchange Ltd (SGX), Singapore
9.2 Economic Performance
9.2.1 GDP at constant prices (US$)
9.2.2 GDP per capita at constant prices (US$)
9.2.3 GDP at current prices (US$)
9.2.4 GDP by key sector
9.2.5 Agriculture, hunting, forestry and fishing net output at current prices (US$)
9.2.6 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
9.2.7 Manufacturing net output at current prices (US$)
9.2.8 Manufacturing net output at current prices as a percentage of GDP
9.2.9 Mining, manufacturing and utilities at current prices (US$)
9.2.10 Mining, manufacturing and utilities at current prices, as percentage of GDP
9.2.11 Construction net output at current prices (US$)
9.2.12 Construction net output at current prices as a percentage of GDP
9.2.13 Inflation rate
9.2.14 Exports as a percentage of GDP
9.2.15 Imports as a percentage of GDP
9.2.16 Merchandise exports growth
9.2.17 Merchandise imports growth
9.2.18 Annual average exchange rate SGD–US$
9.3 Infrastructure
9.3.1 Commercial vehicle exports – total value
9.3.2 Commercial vehicle imports – total value
9.3.3 Automotive exports – total value
9.3.4 Automotive imports – total value
9.3.5 Total internet subscribers
9.4 Labor Force
9.4.1 Labor force
9.4.2 Unemployment rate
9.5 Demographics
9.5.1 Household consumption expenditure (US$)
9.5.2 Total population
9.5.3 Age distribution of the total population
9.5.4 Life expectancy

10 Appendix – 2
10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric’s Services
10.5 Disclaimer

List of Table

Table 1: Singaporean Personal Accident and Health Insurance – Key Facts, 2013
Table 2: Insurance Industry Definitions
Table 3: Singaporean Insurance – Gross Written Premium by Segment (SGD Billion), 2009–2013
Table 4: Singaporean Insurance – Gross Written Premium by Segment (US$ Billion), 2009–2013
Table 5: Singaporean Insurance – Gross Written Premium by Segment (SGD Billion), 2013–2018
Table 6: Singaporean Insurance – Gross Written Premium by Segment (US$ Billion), 2013–2018
Table 7: Singaporean Insurance – Segmentation, Gross Written Premium (Percentage Share), 2009–2018
Table 8: Singaporean Insurance – Direct Written Premium by Segment (SGD Billion), 2009–2013
Table 9: Singaporean Insurance – Direct Written Premium by Segment (US$ Billion), 2009–2013
Table 10: Singaporean Insurance – Direct Written Premium by Segment (SGD Billion), 2013–2018
Table 11: Singaporean Insurance – Direct Written Premium by Segment (US$ Billion), 2013–2018
Table 12: Singaporean Insurance – Segmentation, Direct Written Premium (Percentage Share), 2009–2018
Table 13: Singaporean Personal Accident and Health Insurance – Gross Written Premium by Category (SGD Billion), 2009–2013
Table 14: Singaporean Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Billion), 2009–2013
Table 15: Singaporean Personal Accident and Health Insurance – Gross Written Premium by Category (SGD Billion), 2013–2018
Table 16: Singaporean Personal Accident and Health Insurance – Gross Written Premium by Category (US$ Billion), 2013–2018
Table 17: Singaporean Personal Accident and Health Insurance – Direct Written Premium by Category (SGD Billion), 2009–2013
Table 18: Singaporean Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Billion), 2009–2013
Table 19: Singaporean Personal Accident and Health Insurance – Direct Written Premium by Category (SGD Billion), 2013–2018
Table 20: Singaporean Personal Accident and Health Insurance – Direct Written Premium by Category (US$ Billion), 2013–2018
Table 21: Singaporean Personal Accident and Health Insurance – Earned Premium (SGD Billion), 2009–2013
Table 22: Singaporean Personal Accident and Health Insurance – Earned Premium (SGD Billion), 2013–2018
Table 23: Singaporean Personal Accident and Health Insurance – Paid Claims by Category (SGD Million), 2009–2013
Table 24: Singaporean Personal Accident and Health Insurance – Paid Claims by Category (US$ Million), 2009–2013
Table 25: Singaporean Personal Accident and Health Insurance – Paid Claims by Category (SGD Million), 2013–2018
Table 26: Singaporean Personal Accident and Health Insurance – Paid Claims by Category (US$ Million), 2013–2018
Table 27: Singaporean Personal Accident and Health Insurance – Incurred Loss by Category (SGD Million), 2009–2013
Table 28: Singaporean Personal Accident and Health Insurance – Incurred Loss by Category (US$ Million), 2009–2013
Table 29: Singaporean Personal Accident and Health Insurance – Incurred Loss by Category (SGD Million), 2013–2018
Table 30: Singaporean Personal Accident and Health Insurance – Incurred Loss by Category (US$ Million), 2013–2018
Table 31: Singaporean Personal Accident and Health Insurance – Retentions by Category (SGD Million), 2009–2013
Table 32: Singaporean Personal Accident and Health Insurance – Retentions by Category (US$ Million), 2009–2013
Table 33: Singaporean Personal Accident and Health Insurance – Retentions by Category (SGD Million), 2013–2018
Table 34: Singaporean Personal Accident and Health Insurance – Retentions by Category (US$ Million), 2013–2018
Table 35: Singaporean Personal Accident and Health Insurance – Loss Ratio (%), 2009–2013
Table 36: Singaporean Personal Accident and Health Insurance – Loss Ratio (%), 2013–2018
Table 37: Singaporean Personal Accident and Health Insurance – Commission and Expenses (SGD Million), 2009–2013
Table 38: Singaporean Personal Accident and Health Insurance – Commission and Expenses (SGD Million), 2013–2018
Table 39: Singaporean Personal Accident and Health Insurance – Combined Ratio (%), 2009–2013
Table 40: Singaporean Personal Accident and Health Insurance – Combined Ratio (%), 2013–2018
Table 41: Singaporean Personal Accident and Health Insurance – Frauds and Crimes (SGD Million), 2009–2013
Table 42: Singaporean Personal Accident and Health Insurance – Frauds and Crimes (SGD Million), 2013–2018
Table 43: Singaporean Personal Accident and Health Insurance – Total Assets (SGD Billion), 2009–2013
Table 44: Singaporean Personal Accident and Health Insurance – Total Assets (SGD Billion), 2013–2018
Table 45: Singaporean Personal Accident and Health Insurance – Total Investment Income (SGD Billion), 2009–2013
Table 46: Singaporean Personal Accident and Health Insurance – Total Investment Income (SGD Million), 2013–2018
Table 47: Singaporean Personal Accident and Health Insurance – Retentions (SGD Billion), 2009–2013
Table 48: Singaporean Personal Accident and Health Insurance – Retentions (SGD Billion), 2013–2018
Table 49: Singaporean Personal Accident Insurance – Number of Policies Sold (Thousand), 2009–2013
Table 50: Singaporean Personal Accident Insurance – Number of Policies Sold (Thousand), 2013–2018
Table 51: Singaporean Personal Accident Insurance – Gross Written Premium (SGD Million), 2009–2013
Table 52: Singaporean Personal Accident Insurance – Gross Written Premium (SGD Million), 2013–2018
Table 53: Singaporean Personal Accident Insurance – Loss Ratio (%), 2009–2013
Table 54: Singaporean Personal Accident Insurance – Loss Ratio (%), 2013–2018
Table 55: Singaporean Travel Insurance – Number of Policies Sold (Thousand), 2009–2013
Table 56: Singaporean Travel Insurance – Number of Policies Sold (Thousand), 2013–2018
Table 57: Singaporean Travel Insurance – Gross Written Premium (SGD Million), 2009–2013
Table 58: Singaporean Travel Insurance – Gross Written Premium (SGD Million), 2013–2018
Table 59: Singaporean Travel Insurance – Loss Ratio (%), 2009–2013
Table 60: Singaporean Travel Insurance – Loss Ratio (%), 2013–2018
Table 61: Singaporean Health Insurance – Gross Written Premium by Sub-Category (SGD Million), 2009–2013
Table 62: Singaporean Health Insurance – Gross Written Premium by Sub-Category (US$ Million), 2009–2013
Table 63: Singaporean Health Insurance – Gross Written Premium by Sub-Category (SGD Million), 2013–2018
Table 64: Singaporean Health Insurance – Gross Written Premium by Sub-Category (US$ Million), 2013–2018
Table 65: Singaporean Non-Life Health Insurance – Number of Policies Sold (Thousand), 2009–2013
Table 66: Singaporean Non-Life Health Insurance – Number of Policies Sold (Thousand), 2013–2018
Table 67: Singaporean Non-Life Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Table 68: Singaporean Non-Life Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Table 69: Singaporean Non-Life Health Insurance – Direct Written Premium (SGD Million), 2009–2013
Table 70: Singaporean Non-Life Health Insurance – Direct Written Premium (SGD Million), 2013–2018
Table 71: Singaporean Non-Life Health Insurance – Loss Ratio (%), 2009–2013
Table 72: Singaporean Non-Life Health Insurance – Loss Ratio (%), 2013–2018
Table 73: Singaporean Non-Life Health Insurance – Retentions (SGD Million), 2009–2013
Table 74: Singaporean Non-Life Health Insurance – Retentions (SGD Million), 2013–2018
Table 75: Singaporean Life Health Insurance – Number of Policies Sold (Thousand), 2009–2013
Table 76: Singaporean Life Health Insurance – Number of Policies Sold (Thousand), 2013–2018
Table 77: Singaporean Life Health Insurance – Gross Written Premium (SGD Billion), 2009–2013
Table 78: Singaporean Life Health Insurance – Gross Written Premium (SGD Billion), 2013–2018
Table 79: Singaporean Life Health Insurance – Direct Written Premium (SGD Billion), 2009–2013
Table 80: Singaporean Life Health Insurance – Direct Written Premium (SGD Billion), 2013–2018
Table 81: Singaporean Life Health Insurance – Loss Ratio (%), 2009–2013
Table 82: Singaporean Life Health Insurance – Loss Ratio (%), 2013–2018
Table 83: Singaporean Life Health Insurance – Retentions (SGD Billion), 2009–2013
Table 84: Singaporean Life Health Insurance – Retentions (SGD Billion), 2013–2018
Table 85: Singaporean Personal Accident and Health Insurance – Direct Marketing Commission Paid (SGD Million), 2009–2013
Table 86: Singaporean Personal Accident and Health Insurance – Direct Marketing Commission Paid (SGD Million), 2013–2018
Table 87: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Table 88: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Table 89: Singaporean Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2009–2013
Table 90: Singaporean Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2013–2018
Table 91: Singaporean Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2009–2013
Table 92: Singaporean Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2013–2018
Table 93: Singaporean Personal Accident and Health Insurance – Bancassurance Commission Paid (SGD Million), 2009–2013
Table 94: Singaporean Personal Accident and Health Insurance – Bancassurance Commission Paid (SGD Million), 2013–2018
Table 95: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Table 96: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Table 97: Singaporean Personal Accident and Health Insurance – Policies Sold Through Bancassurance (Thousand), 2009–2013
Table 98: Singaporean Personal Accident and Health Insurance – Policies Sold Through Bancassurance (Thousand), 2013–2018
Table 99: Singaporean Personal Accident and Health Insurance – Number of Bancassurance Distributors, 2009–2013
Table 100: Singaporean Personal Accident and Health Insurance – Number of Bancassurance Distributors, 2013–2018
Table 101: Singaporean Personal Accident and Health Insurance – Commission Paid to Agencies (SGD Million), 2009–2013
Table 102: Singaporean Personal Accident and Health Insurance – Commission Paid to Agencies (SGD Million), 2013–2018
Table 103: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Billion), 2009–2013
Table 104: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Billion), 2013–2018
Table 105: Singaporean Personal Accident and Health Insurance – Policies Sold Through Agencies (Thousand), 2009–2013
Table 106: Singaporean Personal Accident and Health Insurance – Policies Sold Through Agencies (Thousand), 2013–2018
Table 107: Singaporean Personal Accident and Health Insurance – Number of Agencies, 2009–2013
Table 108: Singaporean Personal Accident and Health Insurance – Number of Agencies, 2013–2018
Table 109: Singaporean Personal Accident and Health Insurance – E-Commerce Commission Paid (SGD Million), 2009–2013
Table 110: Singaporean Personal Accident and Health Insurance – E-Commerce Commission Paid (SGD Million), 2013–2018
Table 111: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Table 112: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Table 113: Singaporean Personal Accident and Health Insurance – Policies Sold Through E-Commerce (Thousand), 2009–2013
Table 114: Singaporean Personal Accident and Health Insurance – Policies Sold Through E-Commerce (Thousand), 2013–2018
Table 115: Singaporean Personal Accident and Health Insurance – Number of E-Commerce Distributors, 2009–2013
Table 116: Singaporean Personal Accident and Health Insurance – Number of E-Commerce Distributors, 2013–2018
Table 117: Singaporean Personal Accident and Health Insurance – Commission Paid to Brokers (SGD Million), 2009–2013
Table 118: Singaporean Personal Accident and Health Insurance – Commission Paid to Brokers (SGD Million), 2013–2018
Table 119: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Table 120: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Table 121: Singaporean Personal Accident and Health Insurance – Policies Sold Through Brokers (Thousand), 2009–2013
Table 122: Singaporean Personal Accident and Health Insurance – Policies Sold Through Brokers (Thousand), 2013–2018
Table 123: Singaporean Personal Accident and Health Insurance – Number of Brokers, 2009–2013
Table 124: Singaporean Personal Accident and Health Insurance – Number of Brokers, 2013–2018
Table 125: Singaporean Personal Accident and Health Insurance – Commission Paid to Other Channels (SGD Million), 2009–2013
Table 126: Singaporean Personal Accident and Health Insurance – Commission Paid to Other Channels (SGD Million), 2013–2018
Table 127: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Table 128: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Table 129: Singaporean Personal Accident and Health Insurance – Policies Sold Through Other Channels (Thousand), 2009–2013
Table 130: Singaporean Personal Accident and Health Insurance – Policies Sold Through Other Channels (Thousand), 2013–2018
Table 131: Singaporean Personal Accident and Health Insurance – Number of Distributors in Other Channels, 2009–2013
Table 132: Singaporean Personal Accident and Health Insurance – Number of Distributors in Other Channels, 2013–2018
Table 133: Singapore – Life Insurance Regulatory Framework
Table 134: Singapore – Property Insurance Regulatory Framework
Table 135: Singapore – Motor Insurance Regulatory Framework
Table 136: Singapore – No-Claims Discounts on Motor Insurance Policies
Table 137: Singapore – Liability Insurance Regulatory Framework
Table 138: Singapore – Minimum Capital Requirements
Table 139: Singapore – Corporate Tax Rates for the Financial Year 2014
Table 140: Number of Insurance Providers in Singapore, 2009–2013
Table 141: Shares of Key Insurers in the Singaporean Personal Accident and Health Segment (%), 2013
Table 142: AIA Singapore Private Ltd, Key Facts
Table 143: AIA Singapore Private Ltd, Key Financials (SGD Million), 2012 and 2013
Table 144: NTUC Income Insurance Co-Operative Ltd, Key Facts
Table 145: NTUC Income Insurance Co-Operative Ltd, Key Financials (SGD Million), 2009–2013
Table 146: Great Eastern Life Assurance Co. Ltd, Key Facts
Table 147: Great Eastern Life Assurance Co. Ltd, Key Financials (SGD Million), 2009–2013
Table 148: Prudential Assurance Company Singapore (Pte) Ltd, Key Facts
Table 149: Prudential Assurance Company Singapore (Pte) Ltd, Key Financials (SGD Million), 2011– 2013
Table 150: Aviva Ltd, Key Facts
Table 151: Aviva Ltd, Key Financials (SGD Million), 2010–2013
Table 152: AIG Asia Pacific Insurance Pte. Ltd, Key Facts
Table 153: AIG Asia Pacific Insurance Pte Ltd, Key Financials (SGD Million), 2011–2013
Table 154: Tokio Marine Life Insurance Singapore Ltd, Key Facts
Table 155: Tokio Marine Life Insurance Singapore Ltd, Key Financials (SGD Million), 2009–2013
Table 156: MSIG Insurance (Singapore) Pte Ltd, Key Facts
Table 157: MSIG Insurance (Singapore) Pte Ltd, Key Financials (SGD Million), 2009–2013
Table 158: Axa Insurance Singapore Private Ltd, Key Facts
Table 159: Axa Insurance Singapore Private Ltd, Key Financials (SGD Million), 2009–2013
Table 160: ACE Insurance Ltd, Key Facts
Table 161: ACE Insurance Ltd, Key Financials (SGD Million), 2009–2013

List of Chart

Figure 1: Singaporean Insurance – Gross Written Premium by Segment (SGD Billion), 2009–2018
Figure 2: Singaporean Insurance – Dynamics by Segment, Gross Written Premium (2009–2018)
Figure 3: Singaporean Insurance – Direct Written Premium by Segment (SGD Billion), 2009–2018
Figure 4: Singaporean Insurance – Dynamics by Segment, Direct Written premium (2009–2018)
Figure 5: Singaporean Gross Written Premium and Health Expenditure Statistics, 2009−2013
Figure 6: Singaporean Population Distribution by Gender and Age Group, 2013
Figure 7: Singaporean Personal Accident and Health Insurance – Gross Written Premium by Category (SGD Billion), 2009–2018
Figure 8: Singaporean Personal Accident and Health Insurance – Gross Written Premium by Category (Percentage Share), 2013 and 2018
Figure 9: Singaporean Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2009–2018
Figure 10: Singaporean Personal Accident and Health Insurance – Direct Written Premium by Category (SGD Billion), 2009–2018
Figure 11: Singaporean Personal Accident and Health Insurance – Direct Written Premium by Category (Percentage Share), 2013 and 2018
Figure 12: Singaporean Personal Accident and Health Insurance – Gross Written Premium Dynamics by Category, 2009–2018
Figure 13: Singaporean Personal Accident and Health Insurance – Earned Premium (SGD Billion), 2009–2013
Figure 14: Singaporean Personal Accident and Health Insurance – Earned Premium (SGD Billion), 2013–2018
Figure 15: Singaporean Personal Accident and Health Insurance – Paid Claims by Category (SGD Million), 2009–2018
Figure 16: Singaporean Personal Accident and Health Insurance – Incurred Loss by Category (SGD Million), 2009–2018
Figure 17: Singaporean Personal Accident and Health Insurance – Retentions by Category (SGD Million), 2009–2018
Figure 18: Singaporean Personal Accident and Health Insurance – Loss Ratio (%), 2009–2013
Figure 19: Singaporean Personal Accident and Health Insurance – Loss Ratio (%), 2013–2018
Figure 20: Singaporean Personal Accident and Health Insurance – Commission and Expenses (SGD Million), 2009–2013
Figure 21: Singaporean Personal Accident and Health Insurance – Commission and Expenses (SGD Million), 2013–2018
Figure 22: Singaporean Personal Accident and Health Insurance – Combined Ratio (%), 2009–2013
Figure 23: Singaporean Personal Accident and Health Insurance – Combined Ratio (%), 2013–2018
Figure 24: Singaporean Personal Accident and Health Insurance – Frauds and Crimes (SGD Million), 2009–2013
Figure 25: Singaporean Personal Accident and Health Insurance – Frauds and Crimes (SGD Million), 2013–2018
Figure 26: Singaporean Personal Accident and Health Insurance – Total Assets (SGD Billion), 2009–2013
Figure 27: Singaporean Personal Accident and Health Insurance – Total Assets (SGD Billion), 2013–2018
Figure 28: Singaporean Personal Accident and Health Insurance – Total Investment Income (SGD Billion), 2009–2013
Figure 29: Singaporean Personal Accident and Health Insurance – Total Investment Income (SGD Million), 2013–2018
Figure 30: Singaporean Personal Accident and Health Insurance – Retentions (SGD Billion), 2009–2013
Figure 31: Singaporean Personal Accident and Health Insurance – Retentions (SGD Billion), 2013–2018
Figure 32: Singaporean Personal Accident and Health Insurance – Investment Portfolio (SGD Billion), 2009–2013
Figure 33: Singaporean Personal Accident and Health Insurance – Investment Portfolio (Percentage Share), 2009 and 2013
Figure 34: Singaporean Personal Accident and Health Insurance Penetration (%), 2009–2013
Figure 35: Singaporean Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2009–2013
Figure 36: Singaporean Personal Accident and Health Insurance – Number of Policies Sold (Thousand), 2013–2018
Figure 37: Singaporean Personal Accident and Health Insurance – Premium Per Capita (SGD), 2009–2013
Figure 38: Singaporean Personal Accident Insurance – Number of Policies Sold (Thousand), 2009–2013
Figure 39: Singaporean Personal Accident Insurance – Number of Policies Sold (Thousand), 2013–2018
Figure 40: Singaporean Personal Accident Insurance – Gross Written Premium (SGD Million), 2009–2013
Figure 41: Singaporean Personal Accident Insurance – Gross Written Premium (SGD Million), 2013–2018
Figure 42: Singaporean Personal Accident Insurance – Loss Ratio (%), 2009–2013
Figure 43: Singaporean Personal Accident Insurance – Loss Ratio (%), 2013–2018
Figure 44: Singaporean Travel Insurance – Number of Policies Sold (Thousand), 2009–2013
Figure 45: Singaporean Travel Insurance – Number of Policies Sold (Thousand), 2013–2018
Figure 46: Singaporean Travel Insurance – Gross Written Premium (SGD Million), 2009–2013
Figure 47: Singaporean Travel Insurance – Gross Written Premium (SGD Million), 2013–2018
Figure 48: Singaporean Travel Insurance – Loss Ratio (%), 2009–2013
Figure 49: Singaporean Travel Insurance – Loss Ratio (%), 2013–2018
Figure 50: Singaporean Health Insurance – Gross Written Premium by Sub-Category (SGD Million), 2009–2018
Figure 51: Singaporean Health Insurance – Gross Written Premium Dynamics by Sub-Category, 2009–2018
Figure 52: Singaporean Non-Life Health Insurance – Number of Policies Sold (Thousand), 2009–2013
Figure 53: Singaporean Non-Life Health Insurance – Number of Policies Sold (Thousand), 2013–2018
Figure 54: Singaporean Non-Life Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Figure 55: Singaporean Non-Life Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Figure 56: Singaporean Non-Life Health Insurance – Direct Written Premium (SGD Million), 2009–2013
Figure 57: Singaporean Non-Life Health Insurance – Direct Written Premium (SGD Million), 2013–2018
Figure 58: Singaporean Non-Life Health Insurance – Loss Ratio (%), 2009–2013
Figure 59: Singaporean Non-Life Health Insurance – Loss Ratio (%), 2013–2018
Figure 60: Singaporean Non-Life Health Insurance – Retentions (SGD Million), 2009–2013
Figure 61: Singaporean Non-Life Health Insurance – Retentions (SGD Million), 2013–2018
Figure 62: Singaporean Life Health Insurance – Number of Policies Sold (Thousand), 2009–2013
Figure 63: Singaporean Life Health Insurance – Number of Policies Sold (Thousand), 2013–2018
Figure 64: Singaporean Life Health Insurance – Gross Written Premium (SGD Billion), 2009–2013
Figure 65: Singaporean Life Health Insurance – Gross Written Premium (SGD Billion), 2013–2018
Figure 66: Singaporean Life Health Insurance – Direct Written Premium (SGD Billion), 2009–2013
Figure 67: Singaporean Life Health Insurance – Direct Written Premium (SGD Billion), 2013–2018
Figure 68: Singaporean Life Health Insurance – Loss Ratio (%), 2009–2013
Figure 69: Singaporean Life Health Insurance – Loss Ratio (%), 2013–2018
Figure 70: Singaporean Life Health Insurance – Retentions (SGD Billion), 2009–2013
Figure 71: Singaporean Life Health Insurance – Retentions (SGD Billion), 2013–2018
Figure 72: Singaporean Personal Accident and Health Insurance – Gross Written Premium by Distribution Channel (Percentage Share), 2013 and 2018
Figure 73: Singaporean Personal Accident and Health Insurance – Direct Marketing Commission Paid (SGD Million), 2009–2013
Figure 74: Singaporean Personal Accident and Health Insurance – Direct Marketing Commission Paid (SGD Million), 2013–2018
Figure 75: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Figure 76: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Figure 77: Singaporean Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2009–2013
Figure 78: Singaporean Personal Accident and Health Insurance – Policies Sold Through Direct Marketing (Thousand), 2013–2018
Figure 79: Singaporean Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2009–2013
Figure 80: Singaporean Personal Accident and Health Insurance – Number of Direct Marketing Distributors, 2013–2018
Figure 81: Singaporean Personal Accident and Health Insurance – Bancassurance Commission Paid (SGD Million), 2009–2013
Figure 82: Singaporean Personal Accident and Health Insurance – Bancassurance Commission Paid (SGD Million), 2013–2018
Figure 83: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Figure 84: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Figure 85: Singaporean Personal Accident and Health Insurance – Policies Sold Through Bancassurance (Thousand), 2009–2013
Figure 86: Singaporean Personal Accident and Health Insurance – Policies Sold Through Bancassurance (Thousand), 2013–2018
Figure 87: Singaporean Personal Accident and Health Insurance – Number of Bancassurance Distributors, 2009–2013
Figure 88: Singaporean Personal Accident and Health Insurance – Number of Bancassurance Distributors, 2013–2018
Figure 89: Singaporean Personal Accident and Health Insurance – Commission Paid to Agencies (SGD Million), 2009–2013
Figure 90: Singaporean Personal Accident and Health Insurance – Commission Paid to Agencies (SGD Million), 2013–2018
Figure 91: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Billion), 2009–2013
Figure 92: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Billion), 2013–2018
Figure 93: Singaporean Personal Accident and Health Insurance – Policies Sold Through Agencies (Thousand), 2009–2013
Figure 94: Singaporean Personal Accident and Health Insurance – Policies Sold Through Agencies (Thousand), 2013–2018
Figure 95: Singaporean Personal Accident and Health Insurance – Number of Agencies, 2009–2013
Figure 96: Singaporean Personal Accident and Health Insurance – Number of Agencies, 2013–2018
Figure 97: Singaporean Personal Accident and Health Insurance – E-Commerce Commission Paid (SGD Million), 2009–2013
Figure 98: Singaporean Personal Accident and Health Insurance – E-Commerce Commission Paid (SGD Million), 2013–2018
Figure 99: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Figure 100: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Figure 101: Singaporean Personal Accident and Health Insurance – Policies Sold Through E-Commerce (Thousand), 2009–2013
Figure 102: Singaporean Personal Accident and Health Insurance – Policies Sold Through E-Commerce (Thousand), 2013–2018
Figure 103: Singaporean Personal Accident and Health Insurance – Number of E-Commerce Distributors, 2009–2013
Figure 104: Singaporean Personal Accident and Health Insurance – Number of E-Commerce Distributors, 2013–2018
Figure 105: Singaporean Personal Accident and Health Insurance – Commission Paid to Brokers (SGD Million), 2009–2013
Figure 106: Singaporean Personal Accident and Health Insurance – Commission Paid to Brokers (SGD Million), 2013–2018
Figure 107: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Figure 108: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Figure 109: Singaporean Personal Accident and Health Insurance – Policies Sold Through Brokers (Thousand), 2009–2013
Figure 110: Singaporean Personal Accident and Health Insurance – Policies Sold Through Brokers (Thousand), 2013–2018
Figure 111: Singaporean Personal Accident and Health Insurance – Number of Brokers, 2009–2013
Figure 112: Singaporean Personal Accident and Health Insurance – Number of Brokers, 2013–2018
Figure 113: Singaporean Personal Accident and Health Insurance – Commission Paid to Other Channels (SGD Million), 2009–2013
Figure 114: Singaporean Personal Accident and Health Insurance – Commission Paid to Other Channels (SGD Million), 2013–2018
Figure 115: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2009–2013
Figure 116: Singaporean Personal Accident and Health Insurance – Gross Written Premium (SGD Million), 2013–2018
Figure 117: Singaporean Personal Accident and Health Insurance – Policies Sold Through Other Channels (Thousand), 2009–2013
Figure 118: Singaporean Personal Accident and Health Insurance – Policies Sold Through Other Channels (Thousand), 2013–2018
Figure 119: Singaporean Personal Accident and Health Insurance – Number of Distributors in Other Channels, 2009–2013
Figure 120: Singaporean Personal Accident and Health Insurance – Number of Distributors in Other Channels, 2013–2018
Figure 121: Singapore – The Insurance Regulatory Framework
Figure 122: Singapore – Insurance Supervision and Control at Various Levels
Figure 123: Singapore – Insurance Regulatory Frameworks For Company Registration and Operation
Figure 124: Shares of Key Insurers in the Singaporean Personal Accident and Health Segment (%), 2013
Figure 125: Gross Written Premium – Top Five Singaporean Personal Accident and Health Insurers, (SGD Million), 2013
Figure 126: Gross Claims – Top Five Singaporean Personal Accident and Health Insurers, (SGD Million), 2013
Figure 127: Incurred Loss – Top Five Singaporean Personal Accident and Health Insurers, (SGD Million), 2013
Figure 128: Singaporean Stock Exchange Market Capitalization (US$ Billion), 2008–2012
Figure 129: Singaporean GDP at Constant Prices (US$ Billion), 2009–2013
Figure 130: Singaporean GDP Per Capita at Constant Prices (US$), 2009–2013
Figure 131: Singaporean GDP at Current Prices (US$ Billion), 2009–2013
Figure 132: Singaporean GDP by Key Sector (%) 2008 and 2012
Figure 133: Singaporean Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices (US$ Million), 2008–2012
Figure 134: Singaporean Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices as a Percentage of GDP (%), 2008–2012
Figure 135: Singaporean Manufacturing Net Output at Current Prices (US$ Billion), 2008–2012
Figure 136: Singaporean Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2008–2012
Figure 137: Singaporean Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2008–2012
Figure 138: Singaporean Mining, Manufacturing and Utilities Net Output at Current Prices as a percentage of GDP (%), 2008–2012
Figure 139: Singaporean Construction Net Output at Current Prices (US$ Billion), 2008–2012
Figure 140: Singaporean Construction Output at Current Prices as a Percentage of GDP (%), 2008–2012
Figure 141: Singaporean Inflation Rate (%), 2009–2013
Figure 142: Singaporean Exports as a Percentage of GDP (%), 2008–2012
Figure 143: Singaporean Imports as a Percentage of GDP (%), 2008–2012
Figure 144: Singaporean Merchandise Exports Growth (%), 2009–2012
Figure 145: Singaporean Merchandise Imports Growth (%), 2009–2012
Figure 146: Singaporean Annual Average Exchange Rate US$–SGD, 2009–2013
Figure 147: Singaporean Commercial Vehicles Exports – Total Value (US$ Million), 2009–2013
Figure 148: Singaporean Commercial Vehicles Imports – Total Value (US$ Million), 2009–2013
Figure 149: Singaporean Automotive Exports – Total Value (US$ Million), 2009–2013
Figure 150: Singaporean Automotive Imports – Total Value (US$ Billion), 2009–2013
Figure 151: Singaporean Internet Subscriptions (Millions), 2009–2013
Figure 152: Singaporean Size of Labor Force (Million), 2008–2012
Figure 153: Singaporean Unemployment Rate (%), 2009–2013
Figure 154: Singaporean Household Consumption Expenditure (US$ Billion), 2009–2013
Figure 155: Singaporean Total Population (Million), 2009–2013
Figure 156: Singaporean Population Distribution by Age (%), 2009–2013
Figure 157: Singaporean Life Expectancy (Number of Years), 2009–2013

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