Magazine

Read the latest edition of AIR and MEIR as an Interactive e-book

Jun 2021

Market Profile


Singapore

Learning to live with a pandemic

Singapore’s general insurance sector has remained stable over the last year, despite the pandemic’s impact. But effects of COVID-19 on different lines of business are as varied as the challenges it has created.
 

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Keeping up with the demands of a mature market

The pandemic brought with it a heightened awareness of health and financial protection needs, and life insurers responded with a slew of new products to meet those demands, delivered through digital channels that have been in development for years.
 

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Reinsurance still in an advantageous position

Singapore does not have much to offer by way of local reinsurance business, but it does have business-friendly reinsurance infrastructure that makes it a prominent reinsurance hub in the region.
 

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A practitioner's view of Singapore InsurTech

The combination of ambitious insurance talent, availability of venture funding and a supportive regulator has catapulted Singapore into the Southeast Asia InsurTech hub and one of the most vibrant centres globally.
 

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Recent developments in Singapore-domiciled CAT bonds

In 2018, the Monetary Authority of Singapore made significant efforts to promote the republic as a domicile for these transactions, with the first being completed in early 2019.
 

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Insuring Singapore's infrastructure projects

Insurance is a critical enabler for infrastructure projects that depend on debt or capital investment from any private source. Recent experience in the engineering and construction insurance markets provide important lessons for project owners, lenders and brokers.
 

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