Singapore

The country profile below provides information on population, gross domestic product, insurance premiums and leading insurers.

Insurance Association

General Insurance Association of Singapore
Web: www.gia.org.sg

 

POPULATION, 2011-2014 (1)

Year Population
2011 4,740,737
2012 5,353,494
2013 5,460,302
2014 5,567,301

(1) Estimated.

Source: U.S. Central Intelligence Agency.

 

 

GROSS DOMESTIC PRODUCT, 2010-2014 (1)

(U.S. $ billions)

Year GDP
2010 $235.7
2011 292.4
2012 314.5
2013 339.0
2014 445.2

(1) Based on Purchasing Power Parity calculations, which take into account the relative cost of living and inflation rates of countries. GDP estimate for July for each year shown.

Source: U.S. Central Intelligence Agency.

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LIFE AND NONLIFE INSURANCE PREMIUMS, 2014

(U.S. $ millions)

  Direct premiums written
Nonlife premiums (1) $11,458
Life premiums 15,543
Total premiums $27,000
Percent of total world premiums 0.57%

(1) Includes accident and health insurance.

Source: Swiss Re, sigma, No. 4/2015.

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LEADING NONLIFE INSURANCE COMPANIES, 2013

  Gross written premiums
Company SGD USD Mn
AIG Asia 462.7 369.8
AXA Singapore 417.6 333.7
MSIG 326.0 260.5
NTUC Income 299.5 239.4
First Capital 290.2 231.9
QBE 152.6 122.0
Liberty Insurance 152.5 121.9
Tokio Marine Insurance 142.2 113.6
ACE Insurance 115.3 92.2
OAC 100.5 80.3

Source: Axco Insurance Information Services.

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LEADING LIFE INSURANCE COMPANIES, 2013

  Gross written premiums
Company SGD USD Mn
Prudential 4,399.0 3,515.6
AIA Singapore 4,035.4 3,225.0
Great Eastern Life 3,982.9 3,183.0
NTUC Income 2,392.2 1,911.8
Aviva Ltd 1,105.4 883.4
MANULIFE 1,080.3 863.3
OAC 857.1 685.0
Tokio Marine Life 831.5 664.5
HSBC Insurance 702.3 561.3
AXA Life Singapore 368.6 294.6

Source: Axco Insurance Information Services.

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