Insurance

As an international financial centre, Singapore offers an attractive proposition for firms looking to access markets around the world.

As a key insurance marketplace in the Asian time zone, Singapore serves as a base for insurance and reinsurance firms to write regional and international risks. In line with the growth of Asian markets, and rising awareness and increasing sophistication of risk management systems, the industry has also matured in terms of its product offerings across various sectors.

General Insurance - Growing Specialised Capabilities

Singapore is home to a sizeable number of international general insurance groups. Apart from traditional
property and casualty coverage, Singapore has seen increased capacity over the last decade in the underwriting of specialised risks. Such demand rides on the back of positive economic growth in Asia as well as increasing sophistication of risk management practices

Life Insurance - Leveraging on Rising Asian Affluence

Singapore’s life insurance market is well-developed, with a combination of international and home-grown insurers serving the local and expatriate population. In line with growing affluence in Asia Pacific, Singapore has also seen interest from life insurers catering to the high net worth and mass affluent segments

Reinsurance - Beyond Singapore’s Shores


A major Asian reinsurance entre, Singapore plays host to top global reinsurance groups, many of whom service Asia Pacific markets from their offices here. For many reinsurers, Singapore serves as a base for international and regional risks

Captive Insurance - Asia’s Leading Captive Insurance Domicile

As part of the increasing depth and breadth of risk management offerings here, Singapore is currently the
leading captive domicile in the Asia-Pacific region. Several top global professional captive managers have
established operations in Singapore to service this sector.

Insurance Intermediaries - Facilitators of Market Growth

There are more than 60 direct insurance and reinsurance brokers based in Singapore, who play a critical
role in intermediating insurance business for the region. Beyond the intermediating role, the brokers also provide sophisticated risk advisory services.

Highlights

Find out more about the different types of insurance Industry institutions and their different focus.

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Last Modified on 26/11/2016