Singapore Life Insurance Co: BF: Individual: Sums Insured data was reported at 913,896.700 SGD mn in Sep 2018. This records an increase from the previous number of 893,837.200 SGD mn for Jun 2018. Singapore Life Insurance Co: BF: Individual: Sums Insured data is updated quarterly, averaging 261,101.150 SGD mn from Dec 1990 (Median) to Sep 2018, with 112 observations. The data reached an all-time high of 913,896.700 SGD mn in Sep 2018 and a record low of 46,228.400 SGD mn in Mar 1991. Singapore Life Insurance Co: BF: Individual: Sums Insured data remains active status in CEIC and is reported by Monetary Authority of Singapore. The data is categorized under Global Database’s Singapore – Table SG.Z013: Life Insurance Statistics.

In 2021, the value of all life insurance premiums in Singapore were approximately ***** billion Singapore dollars. The total amount insured in Singapore through policies in force was about **** trillion Singapore dollars.

In 2022, insurance penetration reached *** percent in Singapore. Life insurance accounted for the largest share with a penetration rate of *** percent, while non-life insurance had a penetration rate of *** percent.

Singapore Life Insurance: Expenditure: Claims on Death, Disability & Maturity data was reported at 9,389.200 SGD mn in 2016. This records an increase from the previous number of 8,870.500 SGD mn for 2015. Singapore Life Insurance: Expenditure: Claims on Death, Disability & Maturity data is updated yearly, averaging 3,706.300 SGD mn from Dec 1994 (Median) to 2016, with 23 observations. The data reached an all-time high of 10,193.700 SGD mn in 2014 and a record low of 434.500 SGD mn in 1994. Singapore Life Insurance: Expenditure: Claims on Death, Disability & Maturity data remains active status in CEIC and is reported by Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.Z013: Life Insurance Statistics.

Singapore Life Insurance Co: BF: Individual: Single Premiums data was reported at 18,165.100 SGD mn in Sep 2018. This records an increase from the previous number of 17,802.400 SGD mn for Jun 2018. Singapore Life Insurance Co: BF: Individual: Single Premiums data is updated quarterly, averaging 5,557.450 SGD mn from Dec 1990 (Median) to Sep 2018, with 112 observations. The data reached an all-time high of 18,165.100 SGD mn in Sep 2018 and a record low of 1,108.700 SGD mn in Mar 1991. Singapore Life Insurance Co: BF: Individual: Single Premiums data remains active status in CEIC and is reported by Monetary Authority of Singapore. The data is categorized under Global Database’s Singapore – Table SG.Z013: Life Insurance Statistics.

In 2022, there were approximately 16 million life insurance policies in force in Singapore. In that year, the total amount insured amounted to about 1.78 trillion Singapore dollars.

Life insurance premium volume to GDP (%) in Singapore was reported at 8.072 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Life insurance premium volume to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Graph and download economic data for Non-Life Insurance Premium Volume to GDP for Singapore (DDDI10SGA156NWDB) from 1992 to 2020 about premium, Singapore, life, insurance, and GDP.

Singapore Life Insurance Funds: Miscellaneous (Including Outstanding Premiums) data was reported at 855.100 SGD mn in 2016. This records a decrease from the previous number of 1,106.200 SGD mn for 2015. Singapore Life Insurance Funds: Miscellaneous (Including Outstanding Premiums) data is updated yearly, averaging 1,285.100 SGD mn from Dec 1994 (Median) to 2016, with 23 observations. The data reached an all-time high of 3,637.600 SGD mn in 2008 and a record low of 313.300 SGD mn in 1994. Singapore Life Insurance Funds: Miscellaneous (Including Outstanding Premiums) data remains active status in CEIC and is reported by Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.Z013: Life Insurance Statistics.

In 2020, Great Eastern Life was the leading life insurance company in Singapore by gross written premiums, with a market share of **** percent. The following leading companies in terms of gross written premiums were Prudential Assurance and AIA Singapore.

This statistic presents the leading life insurance companies in Singapore in 2014, by gross premiums written. AIA Singapore led the ranking in 2014, with gross premiums written amounting to approximately **** billion U.S. dollars.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_ad861cfc83aa1f4ce6be45d31290dba8/view

In 2023, Singapore's gross premium value by health insurance companies amounted to *** million Singapore dollars. This represents an increase compared to the previous year, and a steady rise since 2017.

Singapore Life Insurance Co: New Business: Group Policies: Number of Lives Insured data was reported at 306,581.000 Unit in Sep 2018. This records an increase from the previous number of 248,220.000 Unit for Jun 2018. Singapore Life Insurance Co: New Business: Group Policies: Number of Lives Insured data is updated quarterly, averaging 184,651.500 Unit from Dec 1990 (Median) to Sep 2018, with 112 observations. The data reached an all-time high of 1,916,087.000 Unit in Dec 2008 and a record low of 34,266.000 Unit in Sep 1993. Singapore Life Insurance Co: New Business: Group Policies: Number of Lives Insured data remains active status in CEIC and is reported by Monetary Authority of Singapore. The data is categorized under Global Database’s Singapore – Table SG.Z013: Life Insurance Statistics.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_88ecfee25dff217289d1e588eb8c2649/view

In 2023, the gross written premium value of motor insurance in Singapore amounted to about **** billion Singapore dollars. This value ranked first among the different types of insurance. Health insurance followed in second place with a gross written premium value of **** billion Singapore dollars. Motor insurance in Singapore   For motor vehicle owners in Singapore, it is mandatory to purchase insurance with a licensed insurer to cover death or injury to any person while driving the vehicle. In addition, comprehensive policies can be purchased to cover damage to the vehicle or personal injury. In Singapore, about 39 thousand motor vehicles were sold in 2023. The total motor vehicle population reached about *** thousand units during the same year. Life insurance in Singapore The life insurance penetration rate stood at *** percent in Singapore, with life premiums amounting to **** billion Singapore dollars in 2023. The domestic market leaders are Great Eastern Life, Prudential Assurance, AIA Singapore, ManuLife, and NTUC Income Insurance. Compared to the previous year, the number of enforced new life insurance policies increased significantly. Additionally, health insurance companies recorded the highest underwriting profit among life insurance companies.

The Asia-Pacific Life And Annuity Insurance Market report segments the industry into Insurance Type (Annuity Insurance, Life Insurance), Distribution Channel (Direct, Banks, Agents, Online, Other Distribution Channels) and Geography (China, India, Singapore, Australia, Rest Asia-Pacific). Get five years of historical data alongside five-year market forecasts.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_75d4534cdd518326f7355b2f951fb346/view

Non-life insurance premium volume to GDP (%) in Singapore was reported at 0.75404 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Nonlife insurance premium volume to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Singapore Life Insurance Co: New Business: Number of Policies data was reported at 323,513.000 Unit in Sep 2018. This records an increase from the previous number of 322,083.000 Unit for Jun 2018. Singapore Life Insurance Co: New Business: Number of Policies data is updated quarterly, averaging 201,586.000 Unit from Dec 1990 (Median) to Sep 2018, with 112 observations. The data reached an all-time high of 1,848,541.000 Unit in Sep 2005 and a record low of 48,404.000 Unit in Mar 1991. Singapore Life Insurance Co: New Business: Number of Policies data remains active status in CEIC and is reported by Monetary Authority of Singapore. The data is categorized under Global Database’s Singapore – Table SG.Z013: Life Insurance Statistics.