Insurance in Singapore
Published: November 2012 · Publisher: MarketLine
Insurance in Singapore industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016).
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Introduction
Insurance in Singapore industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Singapore insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
Highlights
*The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2011 average exchange rates.
*The Singaporean insurance market had total gross written premiums of $19.5 billion in 2011, representing a compound annual growth rate (CAGR) of 3.6% between 2007 and 2011.
*The life insurance segment was the market's most lucrative in 211, with total gross written premiums of $11.3 billion, equivalent to 57.9% of the market's overall value.
*The performance of the market is forecast to accelerate, with an anticipated CAGR of 6.9% for the five-year period 2011 - 2016, which is expected to drive the market to a value of $27.2 billion by the end of 2016.
Features
Save time carrying out entry-level research by identifying the size, growth, and leading players in the insurance market in Singapore
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Singapore
Leading company profiles reveal details of key insurance market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the Singapore insurance market with five year forecasts
Macroeconomic indicators provide insight into general trends within the Singapore economy
Key Questions Answered
What was the size of the Singapore insurance market by value in 2011?
What will be the size of the Singapore insurance market in 2016?
What factors are affecting the strength of competition in the Singapore insurance market?
How has the market performed over the last five years?
Insurance in Singapore industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Singapore insurance market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
Highlights
*The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2011 average exchange rates.
*The Singaporean insurance market had total gross written premiums of $19.5 billion in 2011, representing a compound annual growth rate (CAGR) of 3.6% between 2007 and 2011.
*The life insurance segment was the market's most lucrative in 211, with total gross written premiums of $11.3 billion, equivalent to 57.9% of the market's overall value.
*The performance of the market is forecast to accelerate, with an anticipated CAGR of 6.9% for the five-year period 2011 - 2016, which is expected to drive the market to a value of $27.2 billion by the end of 2016.
Features
Save time carrying out entry-level research by identifying the size, growth, and leading players in the insurance market in Singapore
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Singapore
Leading company profiles reveal details of key insurance market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the Singapore insurance market with five year forecasts
Macroeconomic indicators provide insight into general trends within the Singapore economy
Key Questions Answered
What was the size of the Singapore insurance market by value in 2011?
What will be the size of the Singapore insurance market in 2016?
What factors are affecting the strength of competition in the Singapore insurance market?
How has the market performed over the last five years?
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TABLE OF CONTENTS
Executive Summary 2
Market value 2
Market value forecast 2
Category segmentation 2
Geography segmentation 2
Market rivalry 2
Market Overview 7
Market definition 7
Market analysis 7
Market Data 8
Market value 8
Market Segmentation 9
Category segmentation 9
Geography segmentation 10
Market Outlook 11
Market value forecast 11
Five Forces Analysis 12
Summary 12
Buyer power 13
Supplier power 14
New entrants 15
Threat of substitutes 16
Degree of rivalry 17
Leading Companies 18
AIA Group 18
Great Eastern Holdings Limited 19
NTUC Income Insurance Co-Operative Limited 22
Prudential plc 25
Macroeconomic Indicators 28
Country Data 28
Appendix 30
Methodology 30
Industry associations 31
Related research 31
LIST OF TABLES
Table 1: Singapore insurance market value: $ billion, 2007–11 8
Table 2: Singapore insurance market category segmentation: $ billion, 2011 9
Table 3: Singapore insurance market geography segmentation: $ billion, 2011 10
Table 4: Singapore insurance market value forecast: $ billion, 2011–16 11
Table 5: AIA Group: key facts 18
Table 6: Great Eastern Holdings Limited: key facts 19
Table 7: Great Eastern Holdings Limited: key financials ($) 20
Table 8: Great Eastern Holdings Limited: key financials (Si$) 20
Table 9: Great Eastern Holdings Limited: key financial ratios 20
Table 10: NTUC Income Insurance Co-Operative Limited: key facts 22
Table 11: NTUC Income Insurance Co-Operative Limited: key financials ($) 22
Table 12: NTUC Income Insurance Co-Operative Limited: key financials (Si$) 23
Table 13: NTUC Income Insurance Co-Operative Limited: key financial ratios 23
Table 14: Prudential plc: key facts 25
Table 15: Prudential plc: key financials ($) 26
Table 16: Prudential plc: key financials (L) 26
Table 17: Prudential plc: key financial ratios 26
Table 18: Singapore size of population (million), 2007–11 28
Table 19: Singapore gdp (constant 2000 prices, $ billion), 2007–11 28
Table 20: Singapore gdp (current prices, $ billion), 2007–11 28
Table 21: Singapore inflation, 2007–11 29
Table 22: Singapore consumer price index (absolute), 2007–11 29
Table 23: Singapore exchange rate, 2007–11 29
LIST OF FIGURES
Figure 1: Singapore insurance market value: $ billion, 2007–11 8
Figure 2: Singapore insurance market category segmentation: % share, by value, 2011 9
Figure 3: Singapore insurance market geography segmentation: % share, by value, 2011 10
Figure 4: Singapore insurance market value forecast: $ billion, 2011–16 11
Figure 5: Forces driving competition in the insurance market in Singapore, 2011 12
Figure 6: Drivers of buyer power in the insurance market in Singapore, 2011 13
Figure 7: Drivers of supplier power in the insurance market in Singapore, 2011 14
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Singapore, 2011 15
Figure 9: Factors influencing the threat of substitutes in the insurance market in Singapore, 2011 16
Figure 10: Drivers of degree of rivalry in the insurance market in Singapore, 2011 17
Figure 11: Great Eastern Holdings Limited: revenues & profitability 21
Figure 12: Great Eastern Holdings Limited: assets & liabilities 21
Figure 13: NTUC Income Insurance Co-Operative Limited: revenues & profitability 23
Figure 14: NTUC Income Insurance Co-Operative Limited: assets & liabilities 24
Figure 15: Prudential plc: revenues & profitability 27
Figure 16: Prudential plc: assets & liabilities 27
Executive Summary 2
Market value 2
Market value forecast 2
Category segmentation 2
Geography segmentation 2
Market rivalry 2
Market Overview 7
Market definition 7
Market analysis 7
Market Data 8
Market value 8
Market Segmentation 9
Category segmentation 9
Geography segmentation 10
Market Outlook 11
Market value forecast 11
Five Forces Analysis 12
Summary 12
Buyer power 13
Supplier power 14
New entrants 15
Threat of substitutes 16
Degree of rivalry 17
Leading Companies 18
AIA Group 18
Great Eastern Holdings Limited 19
NTUC Income Insurance Co-Operative Limited 22
Prudential plc 25
Macroeconomic Indicators 28
Country Data 28
Appendix 30
Methodology 30
Industry associations 31
Related research 31
LIST OF TABLES
Table 1: Singapore insurance market value: $ billion, 2007–11 8
Table 2: Singapore insurance market category segmentation: $ billion, 2011 9
Table 3: Singapore insurance market geography segmentation: $ billion, 2011 10
Table 4: Singapore insurance market value forecast: $ billion, 2011–16 11
Table 5: AIA Group: key facts 18
Table 6: Great Eastern Holdings Limited: key facts 19
Table 7: Great Eastern Holdings Limited: key financials ($) 20
Table 8: Great Eastern Holdings Limited: key financials (Si$) 20
Table 9: Great Eastern Holdings Limited: key financial ratios 20
Table 10: NTUC Income Insurance Co-Operative Limited: key facts 22
Table 11: NTUC Income Insurance Co-Operative Limited: key financials ($) 22
Table 12: NTUC Income Insurance Co-Operative Limited: key financials (Si$) 23
Table 13: NTUC Income Insurance Co-Operative Limited: key financial ratios 23
Table 14: Prudential plc: key facts 25
Table 15: Prudential plc: key financials ($) 26
Table 16: Prudential plc: key financials (L) 26
Table 17: Prudential plc: key financial ratios 26
Table 18: Singapore size of population (million), 2007–11 28
Table 19: Singapore gdp (constant 2000 prices, $ billion), 2007–11 28
Table 20: Singapore gdp (current prices, $ billion), 2007–11 28
Table 21: Singapore inflation, 2007–11 29
Table 22: Singapore consumer price index (absolute), 2007–11 29
Table 23: Singapore exchange rate, 2007–11 29
LIST OF FIGURES
Figure 1: Singapore insurance market value: $ billion, 2007–11 8
Figure 2: Singapore insurance market category segmentation: % share, by value, 2011 9
Figure 3: Singapore insurance market geography segmentation: % share, by value, 2011 10
Figure 4: Singapore insurance market value forecast: $ billion, 2011–16 11
Figure 5: Forces driving competition in the insurance market in Singapore, 2011 12
Figure 6: Drivers of buyer power in the insurance market in Singapore, 2011 13
Figure 7: Drivers of supplier power in the insurance market in Singapore, 2011 14
Figure 8: Factors influencing the likelihood of new entrants in the insurance market in Singapore, 2011 15
Figure 9: Factors influencing the threat of substitutes in the insurance market in Singapore, 2011 16
Figure 10: Drivers of degree of rivalry in the insurance market in Singapore, 2011 17
Figure 11: Great Eastern Holdings Limited: revenues & profitability 21
Figure 12: Great Eastern Holdings Limited: assets & liabilities 21
Figure 13: NTUC Income Insurance Co-Operative Limited: revenues & profitability 23
Figure 14: NTUC Income Insurance Co-Operative Limited: assets & liabilities 24
Figure 15: Prudential plc: revenues & profitability 27
Figure 16: Prudential plc: assets & liabilities 27
Copyright © FriedlNet. You may share using our tools Please don't cut content from FriedlNet and redistribute by email or post to the web.