The nine key life insurers in Singapore have healthy capital buffers to withstand sudden shocks and observers expect them to remain well capitalised in the months ahead.
Based on publicly available data, almost all nine hit a capital adequacy ratio (CAR) of at least 150 per cent, higher than the typical level of 100 per cent.
The nine insurers are AIA Singapore, Etiqa Insurance, Great Eastern Life, HSBC Life Singapore, Manulife Singapore, Income Insurance, Prudential Singapore, Singlife and Tokio Marine Life Insurance Singapore.
The stipulated minimum CAR requirement of 100 per cent is a way to ensure an insurer has enough capital buffer to withstand shocks.
Mr Danny Fischer, who is head of solutions for the Asia-Pacific at Mitsubishi UFJ Financial Group, said the CAR of Singapore life insurers remains strong and that it continues to be the case on a forward-looking basis.
"The sector is well capitalised and boards and management will continue to focus on strong capital solvency levels," he said.
A look at the insurers' returns showed that Tokio Marine Life's CAR fell from 244 per cent in 2019 to 102 per cent in 2023.
This story is from the November 05, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 05, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Japan's True Blue Tradition
Call it an antidote to fast fashion. Japanese jeans hand-dyed with natural indigo and weaved on a clackety vintage loom, then sold at a premium to global denim connoisseurs.
6 easy dishes to pack for lunch
Nutritionists and food content creators suggest these healthy and convenient recipes
Don't cross Culinary Class Wars star Anh Sung-jae of three-Michelin-starred Mosu
On an early episode of Netflix's hit reality cooking show Culinary Class Wars (2024), chef Anh Sung-jae stood in a warehouse filled with makeshift cooking stations and considered the plate in front of him: a rainbow palette of handmade pastas, purees and delicately cooked seafood. On top was a smattering of flower petals.
Emerald Hill to make Netflix debut
Emerald Hill looks set to be the must-watch local blockbuster series of 2025.
Refreshed museums in SG60 arts
A timely slate of refreshed spaces and new programmes at Singapore's arts and cultural institutions will be launched in 2025, wooing audiences with a different Singapore story as the nation gears up to mark 60 years of independence.
Going casual to woo fickle diners
Serious artwork on the wall. Bespoke crockery on cloth-covered tables. A fine wine list. Eye-watering menu prices. Just don't call it a fine-dining restaurant.
Smartwatches Make Healthcare Smarter
From tracking heart rate to steps taken to sleep quality, smartwatches and fitness trackers can generate biometric data about the people using them.
Quality, not quantity, rules the superhero game
In 2025, the big studios are rolling up their sleeves to tackle a disease plaguing the box office – superhero fatigue.
Big-name musicals to hit the stage
Soothing melodies and soaring high notes are set to fill the air, as the coming year brings along a host of musicals to the Lion City.
Celebrating design with SG60, new hotels and theme parks
Architecture and urban design take centre stage in 2025, with marquee events such as a year-long celebration of Singapore's 60th year of independence (SG60) and launches of Sentosa attractions to enhance the destination's \"islander allure\".
