Singapore Business Review's Insurance Rankings sees slow growth amongst top 50
Singapore Business Review|Issue 102
The top 50 insurers saw 5.1% growth in 2021.
Singapore Business Review's Insurance Rankings sees slow growth amongst top 50

Singapore's top 50 insurers included in the Singapore Business Review's Insurance Rankings grew by 5.1% in 2021, tapering off from the double-digit growth observed in the previous rankings. This is because in 2021, according to the Ministry of Trade and Industry, life insurers suffered a decrease of 23.5% in their net income brought by lower investment income.

The Singapore Business Review Insurance Rankings is the annual list of the top 50 insurers in Singapore by assets. The data is derived from the Monetary Authority of Singapore's annual statistics with the most recent rankings using data from 2021 and comparing them from a year before.

The annual review of the insurance sector saw 20 life insurers, 24 general insurers, four life reinsurers, and two general reinsurers in the top 50 list.

Great Eastern retained its first place, with a 4.35% increase in assets. AIA also maintained its rank at second place with a 1.72% increase in assets.

Prudential, NTUC Income, and Manulife all retained their third, fourth, and fifth spots, respectively, with Manulife experiencing the greatest asset growth amongst the three at 18.51%. NTUC Income however decreased by 2.32% despite maintaining its fourth rank. Prudential's assets increased by 7.84% compared to a year before.

Amongst all the general insurers, NTUC Income's general insurance business has the highest assets in the rankings at number 13.

This year also saw the return of Singlife to the top 50 at rank 14 and a newcomer, EQ Insurance, at rank 50.

Meeting consumer demands

Bu hikaye Singapore Business Review dergisinin Issue 102 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Singapore Business Review dergisinin Issue 102 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

SINGAPORE BUSINESS REVIEW DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
How TikTok powers cross-border shopping for Singapore retailers
Singapore Business Review

How TikTok powers cross-border shopping for Singapore retailers

The yellow basket feature allows viewers to purchase items directly during livestreams.

time-read
3 dak  |
Issue No. 109
Income Insurance seeks to fill billion-dollar financing gap in climate transition
Singapore Business Review

Income Insurance seeks to fill billion-dollar financing gap in climate transition

The region skimmed its carbon intensity by 2.8%, far below the 17.2% needed.

time-read
3 dak  |
Issue No. 109
SIDS fights misconceptions in interior design with accreditation, education
Singapore Business Review

SIDS fights misconceptions in interior design with accreditation, education

The organisation is setting up a digital platform to speed up accreditation from 6 to 2 months.

time-read
3 dak  |
Issue No. 109
IHH's proton therapy takes aim at tumours with precision and low risk
Singapore Business Review

IHH's proton therapy takes aim at tumours with precision and low risk

Leaving surrounding organs at risk during cancer treatment might become a thing of the past.

time-read
2 dak  |
Issue No. 109
SingPost pivots from mail to logistics as e-commerce demand drives growth
Singapore Business Review

SingPost pivots from mail to logistics as e-commerce demand drives growth

It is banking on e-commerce to drive its logistics unit, which accounts for 69% of revenue.

time-read
3 dak  |
Issue No. 109
Singapore needs SEA neighbours to power renewable energy transition
Singapore Business Review

Singapore needs SEA neighbours to power renewable energy transition

Experts favour Malaysia and Indonesia as renewable energy import sources.

time-read
2 dak  |
Issue No. 109
Singapore's architecture blueprint spurs push to tackle brain drain in other sectors
Singapore Business Review

Singapore's architecture blueprint spurs push to tackle brain drain in other sectors

Paying the country's architects just right will hopefully stop the brain drain.

time-read
3 dak  |
Issue No. 109
Millionaires eye a piece of Singapore's rich colonial era
Singapore Business Review

Millionaires eye a piece of Singapore's rich colonial era

The country's remaining 6,500 shophouses are in high demand amongst the ultra-rich.

time-read
3 dak  |
Issue No. 109
HDB resale portal unlikely to cut out property agents
Singapore Business Review

HDB resale portal unlikely to cut out property agents

The portal enables sellers to list their units themselves.

time-read
3 dak  |
Issue No. 109
Factory and retail spaces shine as housing heads for worst market slump in 16 years
Singapore Business Review

Factory and retail spaces shine as housing heads for worst market slump in 16 years

Its manufacturing and tourism rebound will spur demand for industrial and high-street shops.

time-read
4 dak  |
Issue No. 109