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Singapore life insurance sector weakens in Q3

Weighted new business premiums for the three months ended September down 6% at S$705.4m; decline due to 18% fall in weighted annual premiums

Singapore

SINGAPORE's life insurance industry weakened in the third quarter this year, as weighted new business premiums for the three months ended September fell 6 per cent to S$705.4 million from a year ago. The decline was attributable to an 18 per cent fall in weighted annual premiums to S$446.2 million compared with the same period last year, even as weighted single premiums rose.

Weighted single premiums - policies where consumers pay only a one-time premium - had climbed 24 per cent to S$259.2...

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