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, 2011-2015 (1)

Year Population
2011 4,740,737
2012 5,353,494
2013 5,460,302
2014 5,567,301
2015 5,674,472

(1) Estimated.

Source: U.S. Central Intelligence Agency.

 

 

Gross Domestic Product, 2011-2015 (1)

(U.S. $ billions)

Year GDP
2011 $292.4
2012 314.5
2013 339.0
2014 445.2
2015 471.9

(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, 2015

(U.S. $ millions)

  Direct premiums written
Nonlife premiums (1) $11,746
Life premiums $16,258
Total premiums $28,004
Percent of total world premiums 0.61%

(1) Includes accident and health insurance.

Source: Swiss Re, sigma, No. 3/2016.

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Leading Nonlife Insurance Companies, 2014

 

  Gross written premiums
Company SGD USD Mn
AIG Asia  468.5 369.8
AXA Singapore  415.7 328.1
MSIG  331.3 261.5
First Capital  289.9 228.8
NTUC Income  283.1 223.5
QBE  158.8 125.4
Liberty Insurance  158.8 125.3
Tokio Marine Insurance  144.4 114.0
ACE Insurance  134.9 106.4
Tenet Sompo  110.0 86.9

Source: Axco Insurance Information Services.

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Leading Life Insurance Companies, 2014

 

  Gross written premiums
Company SGD USD Mn
AIA Singapore  5,000.3 3,946.4
Prudential  4,643.8 3,665.1
Great Eastern Life  3,934.9 3,105.5
NTUC Income  2,239.8 1,767.7
Aviva Ltd  1,791.4 1,413.8
Tokio Marine Life  1,202.0 948.7
OAC  1,020.8 805.6
Manulife  834.6 658.7
HSBC Insurance  832.2 656.8
AXA Life Singapore  456.3 360.1

Source: Axco Insurance Information Services.

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