Insurance
SG insurers see growth in new business premiums and asset holdings
SG insurers see growth in new business premiums and asset holdings
However, higher interest rates could constrain new business growth and increase policy redemptions.
Singaporeans rely on CPF as primary source for healthcare future financing: report
Gen X and Baby Boomers were found to rely on CPF the most.
MAS updates rules on life insurance product launches
The changes aim to ensure adequate regulatory oversight.
Singapore’s life insurance slated for $43b premiums in 2029
Due to the ageing population, health awareness, and consumer spending.
S’pore’s NTU develops AI model for affordable farmer insurance
It could improve policyholders’ wealth by nearly 5% whilst being 37% cheaper.
FIDReC reports 45% YoY rise in claims for FY2024
64% of the completed claims were filed against banks, finance companies, and credit bureaus.
Prudential launches AI lab in Singapore
Employees have submitted over 100 AI use cases since its soft launch in August.
Allianz-Income merger in limbo as parties weigh new rules
A CEO said there is no guarantee that any transaction will take place.
ICCSC launches plan to boost insurance trust in Singapore
Trust indicator scores for general insurers were between 73 and 76.
SG justifies blocking $2b capital withdrawal in Income-Allianz deal
This proposed extraction does not align with the representations made to MCCY.
CPFIS funds' annual returns rise to 14.71% in Q3
Its quarterly average return, however, fell to 2.54% from 3.11% in Q2.
Gov’t expands MediShield Life healthcare coverage, raises premium subsidies
The government will expand coverage for mental health and outpatient services and provide premium top-ups.
SG life sector’s weighted new business premiums surge 24% YoY in 9M 2024
Q3 2024’s weighted new business premiums grew by 18.2% YoY.
SeaMoney and MSIG Singapore launch new travel insurance for SG-based travellers
The insurance also covers group travel.
AIA Singapore, Whitecoat expand partnership to address healthcare affordability
Medical costs in Singapore are set to rise nearly 10.7% in 2024.
Only 56% of S’pore graduates see insurance as appealing career choice
Seven in 10 said there was limited career growth in the industry.
Singapore blocks Income-Allianz deal due to social concerns
Government cites public interest and social mission concerns.
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