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.
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