Wednesday, Jun 3, 2015Wednesday, Jun 3, 2015

Singapore's life insurance sector reports robust sales

Published on May 6, 2014 2:38 PM

Healthy sales of both single and annual premium products in the first quarter gave Singapore's life insurance sector a good start to the year.

The Life Insurance Association (LIA) said the weighted new business premiums came in at $698.7 million for the three months to Mar 31, an increase of 24 per cent compared with the same period a year ago.

Sales of annual premium products for the quarter rose 24 per cent over last year to $530.5 million.

Single premium product sales rose 27 per cent in the same period to $168.2 million, where 15 per cent comprised CPF-funded sales.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!