Chart of the day: New business premiums of life and health drops 8.2% YoY in June
New business premiums totalled $63.4b in June this year.
This chart from the Life Insurance Association of Singapore shows that new business premiums in the life and health insurance industry dropped by 8.2% to $63.4b in June compared to a year ago.
42.7% of the life and health industry’s new business premiums came from tied representatives. 29.5% came from financial advisors (FA) representatives, 18.8% came from banks, 5.7% came from online direct channels whilst 3.3% from products sold without intermediaries.
Last year, new business premiums reached for life and health insurance totaled $69b.
According to LIA, the life insurance industry contracted by 1.9% in the first half of 2022.
Workplace 3.0: Transforming work environments to support innovation and meaningful work
The race to gender equity for Asia’s startups
How Many Apps Does It Take to Change a Workplace?
In an era of zero-sum thinking, business leaders must unlock a mutually beneficial future