New life insurance sales in Singapore drop 13% in H1
Weaker showing due to strict social-distancing measures enforced during the 'circuit-breaker' and Phase One periods: Life Insurance Association, Singapore
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THE Covid-19 pandemic and the ongoing recession took a toll on insurance sales in Singapore in the first six months this year.
Singapore's life insurance industry saw new business, in terms of total weighted premiums, decline 13 per cent to S$1.66 billion from January to June, compared to S$1.91 billion in the year-ago period.
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