Singapore's life insurance industry recorded a total of S$1.21 billion (US$868 million) in weighted new business premiums for 1Q2022, a slight 2% dip compared to 1Q2021, according to The Life Insurance Association, Singapore (LIA).
Samsung Life Insurance Co, the country's top life insurer, has reported a 72.9% plunge in its first-quarter net profit due to losses from its variable life insurance business amid recent stock market volatility.
Howden Insurance Brokers in Singapore, part of the international insurance broking group Howden, has acquired the business and assets of AEGIS Insurance Agencies, as it presses on with its strategy to expand Howden Asia's range of specialties.
Prudential Singapore and NTUC Income have joined hands to help Singaporeans prepare financially for their later years and long-term care needs.
Five of the country's largest listed insurers saw their investment books impacted by stock losses in the first quarter this year due to strict Covid-19 lockdowns to curb the Omicron wave.
Insurance companies say that there is no impact on insurance business following the imposition of value added tax (VAT) on services provided by insurance agents, direct brokerages and reinsurance brokerages that took effect on 1 April 2022.
The initial public offering (IPO) of the country's largest life insurance company Life Insurance Corporation of India (LIC) has subscribed 1.79 times at the end of May 8, the fifth day of bidding.
Ping An Insurance (Group) Company of China recently announced the launch of its ChinaBond Ping An Life Insurance ESG Integration Strategy Credit Bond Index.
Allianz Life Insurance Malaysia Bhd (Allianz Life) posted a 35-fold jump in new insurance businesses set up with estate planning concept in 2021, compared with new businesses achieved in 2020.
At its recent 26th annual general meeting (AGM), the Financial Services Managers Association (FSMA) announced newly elected members of its Management Committee for 2022/2023.