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High-net-worth market in Asia to grow by double digits: Insurers
The Straits Times|October 09, 2024
Report notes more first-generation entrepreneurs entering millionaire bracket
- Claire Huang Senior Business Correspondent
Asia's high-net worth (HNW) market will hit double-digit growth in the next two to five years, according to the estimates of insurers and brokers in Singapore and Hong Kong.

The firms told reinsurer Swiss Re that the growth will be higher than before the Covid-19 pandemic, with most of them expecting Asia's HNW market to expand by 10 per cent to 20 per cent.

Their optimism stems from the belief that emerging Asia is set to outperform other regions.

In 2023, economic growth in emerging Asia was more than 6 per cent. Swiss Re expects this to be just under 6 per cent in each of the next two years.

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High-net-worth market in Asia to grow by double digits: Insurers
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