FINANCIAL SERVICES | Staff Reporter, Singapore

Finance & Insurance sector expands by 6.3% in Q4

Increase in fund management segment pushes the growth.

Finance & insurance sector registered a 6.3% year-on-year (yoy) growth in the fourth quarter of 2017.

The Ministry of Trade and Industry noted the increase was a result of robust growth in the fund management segment, as well as continued expansion in the financial intermediation and insurance segments.

For the whole year 2017, finance & insurance sector grew by 4.8% which greatly contributed to the 2.8% growth in the services producing industries.

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