To rein in the soaring costs for cancer treatment insurance, the Ministry of Health (MOH) had announced last August that it will allow insurance to only cover effective as well as cost effective drugs and treatments on a newly created Cancer Drug List.
AIA Singapore and Singapore Management University (SMU) yesterday signed a Memorandum of Understanding to launch the first work-study elective for Actuarial Science students at the School of Economics.
Everest Insurance, the insurance division of Everest Re Group, yesterday announced that it has officially entered the Asian market after receiving approval from the Monetary Authority of Singapore to operate in Singapore.
The great resignation has disrupted Singapore residents' plans to retire, with one in five residents indicating that they intend to push back their retirement by six years, from 58 years to 64 years.
Registration for the Singapore International Reinsurance Conference (SIRC) opens today (Monday 20 June) from 8am SGT on the 18th SIRC website at https://www.sirc.com.sg.
The operating performance of United Overseas Insurance (UOI) is very strong, as evidenced by the insurer's five-year average combined ratio of 44.7% and operating ratio of 12.6% (2017-2021), notes AM Best.
A survey by Milieu Insight on 'Financial Independent, Retire Early' (FIRE) finds out how common the FIRE movement is among Southeast Asians.
Kyobo Life Insurance said yesterday that its $500m 5.9% sustainability subordinated capital securities would be listed on the Singapore Exchange's (SGX) bond market today.
People from the sandwich generation - those who had competing demands and financial responsibilities for both younger and older generations - have an increasing desire to be prepared for financial independence in retirement.
A pool of a hundred InsurTechs are registered in the Singapore FinTech Association, yet the country's regulators are concerned about the insurance industry's low participation in sandboxes and grants available to innovate new products. "Despite providing an open sandbox to allow people to experiment with insurance for tech companies on the market, we still see a very low take-up on the insurance side," said MAS chief FinTech officer Sopnendu Mohanty speaking at InsureTech Connect Asia. He said the insurance industry still faces many challenges that could be addressed with more InsurTech development.