Life insurance business growth remains flat in 2014

Singapore

GROWTH in Singapore's life insurance business stayed flat at S$2.79 billion for the full year as at end-December 2014, compared with the whole of 2013.

This was mainly due to a higher premium base in 2013 - attributable to the re-pricing of Integrated Shield Plans (IPs) and higher policy maturity that year. Insurers typically get policyholders whose policies have matured to re-invest that money, which leads to more rollover of business and a higher premium base.