Market Report, "Singapore Insurance Report Q4 2010", published

Oct. 10, 2010 - PRLog -- In this report, we have been able to include both final data for 2009, and to amend projections for the current year in order to take into account of H110 results released by major cross-border insurers in the Asia-Pacific region. Total insurance premiums in Singapore (including offshore risks) in 2009 amounted to SGD25,687mn. This included non-life premiums of SGD7,436mn and life premiums of SGD18,251mn. In 2014, the corresponding figures are projected to be SGD29,182mn, SGD9,381mn and SGD19,802mn. In terms of the key drivers that underpin our forecasts, we are looking for non-life penetration to rise from 3.08% in 2009 to 3.10% in 2014, and for life density to rise from US$2,569 to US$2,800. BMI's proprietary Insurance Business Environment Rating for Singapore stands at 74.6.

As in previous quarters, we have ranked major players in each of the two main insurance segments as they are seen by the organisation providing the data (which, in practice, is usually the regulator or the trade association). In Singapore the three largest non-life companies, in terms of gross written premiums, were American Home, NTUC Income and AXA Singapore, whose market shares were 13.8%, 10.3% and 7.7% respectively. In the life segment, leaders were AIA, Great Eastern Life and NTUC Income. Over time, we hope to derive insights from observing how market shares change. We emphasise though that a decline in share of gross written premiums is not automatically a negative indictor and indeed is often the result of a corporate decision to focus on more profitable business lines.

In this report, we also provide a breakdown of the insurance sector by line - again, from the point of view of the regulator or the trade association. In Singapore the largest non-life lines were motor, fire and work injury compensation. Over time, we should be able to use this information to bring greater sophistication to our forecasting process.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/87293_singapore_insurance_repo...

Report Table of Contents:

Executive Summary
- Table: Overview Of Singapore's Insurance Sector
- Key Insights On Singapore's Insurance Sector
SWOT Analysis
- Singapore Insurance Industry SWOT
- Singapore Political SWOT
- Singapore Economic SWOT
- Singapore Business Environment SWOT
MetLife's Acquisition Of ALICO
- Table: ALICO At A Glance
- Table: ALICO's Pre-Tax Profits By Segment And Region Contribution, Year To November 30 2009 (%)
- Table: ALICO - A Market Leader In Japan
- Table: MetLife's Acquisition Of ALICO
- Table: MetLife And ALICO Combined
Asia Pacific Overview
- Table: Asia Pacific Non-Life Markets At A Glance, 2008-2010
- Table: Asia Pacific Life Markets At A Glance, 2008-2010
Projections And Forecasts
- Table: Insurance Premiums, 2007-2014
- Projections And Drivers Of Growth
- Table: Growth Drivers, 2007-2014
Country Update
- Macroeconomic Outlook
- Table: Singapore - Economic Activity, 2007-2014
- Domestic Politics
- Long-Term Political Outlook
Insurance Business Environment Rating
- Table: Singapore - Insurance Business Environment Indicators
- Table: Asia Pacific Insurance Business Environment Ratings
Regional Context
- Table: Non-Life Premiums In A Regional Context, 2009
- Table: Life Premiums In A Regional Context, 2009
Major Players In Singapore's Insurance Sector
- Table: Non-Life Segment Premiums - Direct Insurers, H109 (SGDmn)
- Table: Life Premiums, H109 (SGD mn)
- Table: Singapore's Life Insurance Funds By Gross Written Premiums, 2008 (SGDmn)
- Table: Singapore's Non-Life Insurance Funds - Gross Written Premiums, 2008 (SGDmn)
Analysis Of Regional Competitive Conditions
Local Company Profiles
- Great Eastern
- NTUC Income
- TM Asia Life Malaysia
Regional Company Profiles
- AEGON
- Allianz
- Aviva
- AXA
- Cardif
- Fortis
- Generali
- Groupama
- HDI-Gerling
- HSBC Insurance
- ING Group
- Liberty Mutual
- Manulife
- MetLife
- Prudential Financial
- Prudential Plc
- QBE
- RSA
- Sun Life Financial
- The Principal
- Zurich Financial Services
Country Snapshot: Singapore Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2000-2030
- Section 2: Education And Healthcare
- Table: Education, 2000-2004
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
BMI Methodology
- Insurance Business Environment Ratings
- Table: Insurance Business Environment Indicators And Rationale
- Table: Weighting Of Indicators

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.