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Q2 new business in S'pore life insurance up 20%

LIA chief says significant growth in non-linked products comes on the back of a shrinking single-premium linked business caused by market uncertainties

Published Wed, Aug 10, 2016 · 09:50 PM

Singapore

SINGAPORE'S life insurance industry grew in the second quarter on the back of an overall increase in uptake of non-linked products, which include endowment, whole life and universal life policies and Integrated Shield Plans (IPs) and IP riders.

For the three months as at the end of June, total weighted new business sales rose 20 per cent year-on-year to S$844.9 million.

Weighted new business sales o…

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