Fast Market Research announces the availability of the new Business Monitor International report, "Singapore Insurance Report Q1 2016", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 11/12/2015 -- Singapore ' s Central Provident Fund (CPF) is a key institution that promotes organised savings in a country with a high savings rate. In other countries, the retirement income solutions that are delivered by the CPF might come from the life insurance sector. However, life insurance premiums and density should continue to rise - from already high levels - thanks to official initiatives to promote the segment and innovation by the insurers themselves. The ageing of the population also augurs well for the likely development of health insurance, both through the forecast period and beyond. The general growth of the ASEAN economies, and the boost to trade through the regional Free Trade Area, provide opportunities for non-life (re)insurers in offshore non-life insurance.
Get More Details on this Report and a Full Table of Contents at Singapore Insurance Report Q1 2016
The excellent business environment of Singapore means that the city state must be considered as a globally significant insurance centre. The insurance sector has three separate segments. The least important of these is the local market for non-life insurance. Competitive conditions vary from sub-sector to sub-sector, but all are characterised by product innovation and/or competition on the basis of service. Health insurance is growing rapidly, thanks mainly to the ageing of the population of the city state. The second part of the market is a substantial, and fairly rapidly growing, offshore insurance element of the non-life segment. Both direct insurers and reinsurers book property and other covers for risks in the ASEAN countries through their operations in Singapore. The third element is the dynamic life insurance segment, which complements the Central Provident Fund - the key social security institution.
The Singapore Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Singapore Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Singaporean insurance industry.
-Benchmark BMI's independent insurance industry forecasts for Singapore to test other views - a key input for successful budgeting and strategic business planning in Singapore's insurance market.
-Target business opportunities and risks in Singapore through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
-Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
BMI Industry View
Summary of BMI?s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series (2005-2014) and forecasts to end-2019 for key industry indicators, supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:
-Life/non-life Premiums: Total premium growth (USDmn), premium growth (% y-o-y), penetration (% of GDP), density (USD per capita) for Life and Non-Life sectors, claims reinsurance, and assets and liabilities.
-Non-life subsectors: Data on gross written premiums for all major Non-Life segments (motor, transport, property, personal accident, health, general liability and credit financial).
BMI?s Insurance Risk Reward Index
BMI?s Risk Reward Indices provide investors (Life and Non-Life) looking for opportunities in the region with a clear country-comparative assessment of a market?s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide an indices of highest to lowest appeal to investors, with each position explained.
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