Wealth Management and Insurance

Asset Management

Singapore is well recognized as one of the premier asset management centres in Asia.

Located at the heart of Asia, Singapore offers global investors unparalleled access to the Asia Pacific markets – one of the world’s fastest-growing regions. Besides having a strategic geographical location, its excellent business infrastructure, global connectivity and trade linkages enable investors to access the Asian market within 7 hours of flight time.

Today, there is a broad and diverse community of asset managers in Singapore.  Besides global and locally-owned asset managers in the traditional space, there is a growing community of alternative players, including hedge fund, private equity and real estate managers. 

Find out more about the asset management industry in Singapore from our annual asset management survey.

Private Banking

Singapore has developed itself as an established private banking centre globally and in Asia. High net worth individuals choose Singapore for a number of reasons. Apart from sound fundamentals such as economic and political stability, reputation for high standards of regulation and supervision, and a robust legal and judicial framework , the breadth and depth of players here offers ready access to global and regional financial markets.

In April 2011, a Private Banking Code of Conduct for the industry was launched. The Code was the result of an industry-led effort, aimed at enhancing the competency of private banking professionals and fostering high market conduct standards. The Code and further details can be found on the Association of Banks in Singapore’s website.  

 

Insurance

Within Asia, Singapore has established itself as an important insurance hub. Besides the locally-owned players, a large number of major international insurers and reinsurers are based in Singapore. Together, they provide a full range of insurance services to meet the needs of the domestic market. Numerous reinsurers and captive insurers also use Singapore as a base to write risks from the region. Offshore insurance business has become a major driver of industry growth, accounting for more than half of the total general insurance business written

Today, Singapore is home to a rich mix of direct insurers, reinsurers and captive insurers. A strong network of insurance intermediaries and ancillary service providers has also emerged. Many of the world’s leading names in insurance broking, captive management and risk management are present here.

Find out more about the regulatory regime and licenses for the insurance industry in Singapore at our Regulations section

Last Modified on 26/11/2016