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Singapore's life insurance sector sees slower growth in Q2

Published on Aug 5, 2014 12:26 PM
 
The life insurance sector reported slightly slower second-quarter growth, due to a higher base last year. -- PHOTO: ST FILE

SINGAPORE - The life insurance sector reported slightly slower second-quarter growth, due to a higher base last year.

Weighted new business premiums - a key industry performance gauge - came in at $660.3 million for the three months to June 30, a fall of 10 per cent over the same period last year.

Single premium product sales rose 16 per cent per cent to $210.2 million in the same period.

Annual premium products for the quarter fell 19 per cent over last year to $450.1 million, said the Life Insurance Association (LIA) on Tuesday.

 
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