Life Insurance in Singapore, Key Trends and Opportunities to 2017 - New Market Research Report
Unlike other South Asian countries, and the non-life insurance segment, the Singaporean life insurance segment generates business largely from the domestic market, although business is generated from Australia, China, Hong Kong, India, New Zealand and Japan. Consequently, the country's sustained economic development, rapidly growing older population, rising life expectancy and increased high net worth individual (HNWI) business contributed to the segment's growth during the review period (2008-2012); the written premium of the life insurance segment grew a CAGR of 2.3%.
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